Looking for Cash flow - wondering the expenses on STR

[David Hare]

My wife and I are close to retirement. We have some money that we're looking to put into RE (about $450-500k) that we can use and rent out the rest of the time. One to be near one of our kids (in Acworth) in the Red Top mountain area, and second one in Norris Lake area for like an annual gathering with the whole family. I've found some possible places and like the numbers I'm seeing but not sure of breakdown. I used the airdna calculator but don't see a detailed number breakdown. I assume that would be in pro membership. I have listened to a variety of BP podcasts and watch the youtube channel with relevant info and that has been great. I believe a while back I heard that there was a calculator or estimator for all the numbers to consider. Where could I find that?

[Jeremy Horton]

I'm going to be honest here - if you're looking for a calculator to tell you what your expenses are then you likely don't know enough about what you're doing...

You need to come up with a list of all your STR expenses (this includes the cleaning fee since you are the one paying the cleaners!)

Then use pricelabs, airDNA, realtors/owners in the area (look up short term shop - they are experts in that field) to estimate your revenue

Now you can calc your profit since you have your revenue & expenses 

There's tons of different calculators out there...please don't be one of the ones that depends on a random calculator that can be put together in 10 mins to tell you whether or not to make YOUR investment (relying on someone else's calculator would be a BAD idea!). Make a spreadsheet and do your own due diligence based on YOUR SPECIFIC property