STR Analysis for Dummies
Hi all,
Newbie here. Thinking of purchasing an STR condo. It's a bit convoluted because I can use both, the property management company (51%! cost but house keeping/check-in included) or I could bring in the business myself through VRBO/Airbnb/Booking.com. For that I would have to pay a $55/check-in cleaning fee and $42/check-in fee (possibly by-passable). Planning on financing 20% HELOC and 80% Loan. I prepared a spreadsheet with an assumptions tab but there are so many variables, my head is spinning. It's a mountain resort with things to do year-round with April/October/November being slow. Listings for similar properties is about $90/night. Assuming a 30% vacancy to be safe. HELP! Am I too pessimistic? I will try to attach my spreadsheet if I can figure out how. TIA!