It is hard to figure out vacancy rates on Airbnb because of their design. I've heard people have mixed reviews on the data on Airdna or similar research apps. So I am thinking it comes down to just getting in touch with some Airbnb pros locally to take advice from.
I am not so concerned at this point about the details of how to run an Airbnb, that will come later. I am concerned mostly with "will X location be profitable and have low vacancy" because I am looking for a single family home in a low crime area of Indy for me to live in and house hack through Airbnb.
Maybe we can discuss specifics for a bit on here as well. How would a renovated bungalow do in "West Indianapolis". Area has no crime according to Trulia. Minutes from Tibbs Drive In Theatre. Minutes from downtown and importantly the airport. Guests would have their own private bathroom. It would cost me $500 a month in mortgage payment and my goal would be to recoup that cost in renting out a room. Are you thinking I would struggle to do that, or I would easily do that and then some? There are no current Airbnb listings to compare to in that area.
That area has some potential if you're near the Indianapolis Zoo and close to downtown. All the major events are near downtown so that's a big factor. I wouldn't waste my time doing an Airbnb. I live in BRip and some friends rented one here. I'd guess the demand is 1/2 (no notable events) and it's a great area, crime free etc, .
Pictures are worth a thousand words. I've seen listing with pictures taken from a potato cam. Nobody wants to rent that.
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