New to STR market analysis

[Katy Katz]

Just getting started and looking to use AirDNA to analyze what market I want to start with. Any thoughts? Also is access to AirDNA included in my Pro Subscription? I thought I saw that somewhere 

[Collin Hays]

AirDNA isn't a useful tool; its numbers are usually wildly off.  To accurately gauge an area:

Go to VRBO for that area, and look at various homes, amenities, prices, and calendars.  Of course, the calendar is only useful for the current time - reservations within the next 30 days.  But start keeping track of that.  Next month, the next month, and so on, for one year.

I would never invest in an area where I couldn't study over a 12-month period. Because I have nearly 20 years in the Smokies, I have the luxury of knowing that market first hand.  But if I wanted to invest in say Palm Springs, I would need to spend a year really studying it.  

It is a whole lot easier not investing in something poor, than investing in something poor and trying to extract yourself from it later.