Vacation rentals and Air bnb need help with numbers
I've come across a vacation property I might want to purchase. the seller is willing to finance with 20% down. we plan on using the property 3-4 weeks out of the whole year. My question is to those who use Airbnb, how many days of the month is your home currently being rented out? Approximately how much expenses do you incur for cleaning/mowing? I've calculated that with seller financing I would have a piti payment of $1500 month. The home can be rented out for $250 night. If I can rent it out for 15 days out of the month, gross rent would be $3750. Anyone with experience please help. Thank you
Most Popular Reply
Hey Chou,
It's tough to determine how many days you will rent your place as it will vary from property to property (# of beds, amenities, etc) and city/location will also give you many variables. What I do when looking at potential properties is to go to your location on Air Bnb and see how many similar properties there are and take note of those properties calendars to get an idea of how many of their future dates are blocked off. Most likely these are rented days but could also be dates they just decided not to rent. I have also got reports from a company called Air DNA that will give analysis of a market by zip code.
Good Luck,
Andy