Estimate Short Term Rental Income

[Kenneth Hartog]

I am thinking of buying a place in Palm Springs to use a short term rental house. What is the best way to estimate the potential revenue I would receive annually for that house?

Thank You

[Jon Crosby]

Hi @Kenneth Hartog, feel free to use this STR cash flow spreadsheet if you would some help with your revenue/expenses estimates as well.

As @Julie McCoy and @Grayson Graham you definitely be sure of the local permitting laws first and foremost (start here), then you can use AirDNA (or others) or even just research on Airbnb/VRBO to get some ADR's and Occupancy rate numbers started.  

https://www.dropbox.com/s/iveuyp53dj3prpb/Vacation...

Best of luck on your search!