Any seasoned pro BRRRnB Tips?

Question

My partner and I are interested in the BRRRnB method, but wanted to reach out to see if there are any tips we should be aware of before diving in?

We use airdna.co for our data, wholesale our deals, and have a well-known contractor + interior designer on our team. Is there anything else that we could use to dive into the data?  Thanks in advance!

John Underwood · Answer

Don't rely to heavily on Airdna data.

Manually look up some properties to check occupancy and rates on Vrbo and Airbnb.

Matthew Crivelli · Answer

If you think the rehab is going to cost 20k plan on it costing 30k.

Luke Carl · Answer

@Matthew Powell do the rehab in the slow season

Joe Splitrock · Answer

Or $40K next month with the cost of materials skyrocketing, haha. On top of skyrocketing prices, there has been material shortages, so it may require settling for what is in stock or risk a delay in completion.

Paul Sandhu · Answer

Airdna is spot on in my market.  I dug a little deeper and realized that 100% of its data came from just my STR properties, no others.  So if I charge $1 or $1000 a night, Airdna results would reflect that.

Daniel Denning · Answer

@Matthew Powell What market are you looking in? I agree AirDNA isn’t great if you’re just using the free version. With that said, I have found success in providing a more modern property on Airbnb when surrounded by older properties. Happy to chat about that experience if you’re interested!

Robert Tinker · Answer

Especially with building materials rising so fast every day

Jonathan Stone · Answer

@Matthew Powell as with any investment rehab realize you won’t be living there. Even more so maybe since you need to appeal to a wide variety of potential guests. I’m sure your ID will know that but you want warm and comfortable not just ‘my’ style.

Any seasoned pro BRRRnB Tips?

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