Need Advice for STR in Pismo Beach

[Lisa H.]

I have never invested in STRs.  I could use any and all advice:

1. How does one acquire the necessary information in determining average monthly income?

2. The properties I am interested in seems to run like a timeshare (its not). How do you determine what type of ownership it is?

3. What if I can't get insured? Still a good income property?  Seems like ocean property won't be insured anyways.

4. Although I have vacationed many times and love the area, any information on Pismo would be great--from a business perspective.

Any other advice, tips or tricks are welcomed!!!!

[Andrew Steffens]

Hi Lisa - I am far from an expert on CA, but on the income I personally have a premium AirDNA subscription and start there.  I get their auto generated number and match up against the comps provided with the paid subscription.  After that I check it using the "Enemy method" and see what properties are doing currently on Airbnb/Vrbo sites.

Hope that helps!