I just recently started getting into the real estate business and wanted to know if there are any websites or ways to find out certain cities hot spots for people on vacation. In other words I want to know in what location people are booking their vacation stays using apps like airbb, etc. the most so that I can invest in properties in those little hotspots and rent them out. Thank you for any help!!!
Investor · Denver, CO · Member since 2016 · 533 posts · 433 votes
7y
Hi @Franklin Tirrell. That is one of the "holy grail's" of this business (the other is pricing). You can look to sites like Airdna.co or a few others, but for the most part it's "point, click and do you analysis". You'll want to also make sure you're in an area where there are adequate resources for cleaning, maintenance, etc....
Best of luck in your search and let us know if you find the Grail!
Investor · Denver, CO · Member since 2016 · 533 posts · 433 votes
7y
Hi @Franklin Tirrell. That is one of the "holy grail's" of this business (the other is pricing). You can look to sites like Airdna.co or a few others, but for the most part it's "point, click and do you analysis". You'll want to also make sure you're in an area where there are adequate resources for cleaning, maintenance, etc....
Best of luck in your search and let us know if you find the Grail!
Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
7y
@Franklin Tirrell the holy grail can also be places people go to work short term skilled jobs. Construction, turnarounds, government work, things like that. I rent exclusively to contractors. Those scary looking guys with neck tats that work on the large upright rigid structures of steel at a petrochemical refinery.
Real Estate Agent · Orlando, FL · Member since 2015 · 13 posts · 7 votes
7y
@Franklin Tirrell, I would look into articles discussing top destinations in the U.S.A. and look into those that have made some kind of mainstream list for several years. There are also many articles specifically for Airbnb that you may find trends in. (Miami, Orlando, fit your description)
Rental Property Investor · Panama City Beach, FL · Member since 2017 · 44 posts · 44 votes
7y
@Franklin Tirrell Panama City Beach has been in the top 3 in the country for several years and last year was #1 according to VRBO. I own 3 there and all cash flow nicely.
Specialist · FL · Member since 2017 · 139 posts · 88 votes
7y
@Franklin Tirrell Beach or Ski areas are best for vacation rentals. Preference to the beach as more people tend to travel where the warm weather is vs snow. Once you select your preferred locations the next step is to review the city laws to verify vacation rentals is legal in those areas.
Philadelphia PA · Member since 2019 · 21 posts · 8 votes
7y
@Franklin Tirrell great topic! I'm too trying to determine if a deal is worth investing in the Orlando FL area. Does anyone know any statistics of ROI for planned vacation developments?