We're looking at testing the water on vacation rentals in Florida - and am wondering how reliable is the data from Mashvisor - is it worth the subscription fee? We're working with a broker but i hate to put all my trust in one source/opinion. Thoughts?
I would recommend doing your own homework and analysis within the OTA's. Create a spreadsheet and find your local competitors, then compare their rates to what you would like to obtain. Doing so will produce as close, if not a better idea of how successful you can be. Then run your cash on cash and financial statements to see if this plays out the way you want it to. I would also take a look at @Jon Crosby 's very cool app Click2Flip for a high level view. It's a lot of numbers to crunch but will be worth it in the end. You can also use this data to maintain your rates and compare your YOY performance.
Let us know how else we can help.
I had the full paid account with Mashvisor for a couple of months, hoping it had good long-term rental info as well, which it didn't. I found the short-term rental info to be pretty solid in the markets I was looking at, I liked what I saw, but just wasn't interested in short-term. Cancelled Mashvisor shortly thereafter, and shared my feedback with Nathan Miller through a few email exchanges. It's a cool idea and a decent system, and I'm not aware of anything comparable on that level.
Great question thanks for asking it! I too have been considering subscribing to determine the best out of state short term rental markets.
@Vance Kibler I have the paid subscription but have yet to get any real value out of it. If you're looking at data specifically from Airbnb, AirDNA is the best followed by Everbooked. If someone has success using Mashvisor I would love to hear how they use it, I'm probably held up by user error :(
I hate to say that i agree with Tyler. I just ended my paid subscription because it didn't really help me that much. I bought two properties last year that I turned into airbnbs and it put it in a 50-60% occupancy rate and I only had 15 vacant days the entire year!
This is really good input - thanks everyone. We're currently looking at New Smyrna Beach area. Prefer to land on a multi (duplex or tri) - just haven't seen it yet.
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