Short term rental consultation?

Question

I am interested in converting my current residence (which I am currently househacking) into a short term or mid term rental before buying a second property. It is a 4 bedroom 2.5 bath. When I check AirDNA, the projected revenue numbers appear to work well but I am a bit skeptical about the occupancy rate it projects. Would love any general advice, and would also be happy to do a paid consulting call with any experienced STR investors, who could look at my property on Zillow and and AirDNA and help me assess if this is viable.

Brooklyn McCarty · Answer

I would get on Airbnb and VRBO and use the enemy method! Check out other listings and what they are charging, how do their calendars look, etc

also check out the permitting

Rick Albert · Answer

The people I know who have been very successful with 98% occupancy rates watch it like a hawk and change the prices daily. For example, if they have an opening Tuesday-Thursday, they would drop the rate considerably to fill it. Something is better than nothing.

January Johnson · Answer

Enemy method dot com in case you're not familiar!

Michael Albaum · Answer

Could you "test" the market and rent your place for a week or a weekend while you take a trip?

You could also put your property online and see how many booking inquiries you get. You'll of course need to get pics taken and straighten up the house, but it's 100% worth the effort in my opinion to know with a high degree of certainty.

That's what we did with our last primary and it gave us a TON of confidence to pull the trigger.

Sarah Kensinger · Answer

You shouldn't need to pay for a property analysis! If you're interested, I may be able to connect you with some companies in the Atlanta area.

Michael Baum · Answer

Hey @Johnny Torres, so Atlanta has some restrictions on STRs depending on the area. Have you checked to make sure you can STR your property?

Just because there are some STRs near you doesn't mean they are legal.

Also, just post the info on the house. No need to pay to get some help. That is what we do here!

Aubrey Brendle · Answer

Hey Johnny! My team and I specialize in short term rentals here in Western NC and I would love to connect with you. I am always looking to grow my network of people doing what I love to do so feel free to reach out to me anytime. We have a number of contacts with various property management companies that would be happy to help with revenue estimates and the like and we also own a number of rentals ourselves.  Looking forward to talking with you soon!

Dave Stokley · Answer

Ruben Kanya is an expert on the Atlanta market and offers consultations: https://calendly.com/rubenkany...

Short term rental consultation?

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