All Forum Posts by: Jorge Ydlibi
Jorge Ydlibi has started 3 posts and replied 35 times.
Post: Short Term Rental Market Research
- Miami, FL
- Posts 35
- Votes 26
Originally posted by @Jimmy Woodard:
@Jorge Ydlibi one other resource to check out that wasn't previously recommended is Rabbu. They give you free access to comps near whatever address you input, and you can drill down based on amenities.
Thank you Jimmy that's a great tool to get as specific as possible with the comps in the areas i'm researching. I appreciate it, its just what I was looking for!
-Jorge
Post: Short Term Rental Market Research
- Miami, FL
- Posts 35
- Votes 26
Originally posted by @Nikki Yankowski:
One thing to keep in mind is that Airbnb will give the first few bookings are big discount. We didn't get to see our best numbers until month 3.
That is good to know Nikki thank you very much for the heads up as I'll need to calculate that into my projections for any property I analyze.
Post: Short Term Rental Market Research
- Miami, FL
- Posts 35
- Votes 26
Originally posted by @Jonathan Dempsey:
Hey @Jorge Ydlibi!
When looking for properties will profit well using Airbnb or VRBO, I would search the desired areas you are interested in. Then check the areas to see their vacancy rates, and how occupied they are throughout the season on the calendars of Airbnb/VRBO. A good website I would recommend to figure out this information is Pricelabs or Airdna.
When you are looking for properties to rent out you must check the area's zoning rules to make sure that Short-term rentals are allowed and the rules of the area are not too restrictive for you.
Always happy to help!
Live Free,
JD
Hello and thank you very much for the input ill do my best to familiarize myself with the two websites you mentioned asap so I can start comparing different areas' pros and cons and if STR makes sense in them. Thank you!
-Jorge
Post: Short Term Rental Market Research
- Miami, FL
- Posts 35
- Votes 26
@John Underwood @Casey Caton @Joshua Strickland Thank you all for the great advice and insights I highly appreciate it and will begin doing research this weekend using the information you guys have given me in mind. Thank you!
Post: Short Term Rental Market Research
- Miami, FL
- Posts 35
- Votes 26
Originally posted by @Collin Hays:
An easy and very effective method is to go to VRBO.com and review homes of comparable size and amenities in the area that you are interested in. Check not only the rates, but their calendars. High rates don't necessarily correspond to a busy calendar.
You can get a general idea in a few hours what the appropriate nightly rates would be. I would make a spreadsheet of different sizes of homes, as well as those with a differentiating amenity (water front, near resorts, golf course access, etc.).
That's some great advice Collin, thank you for taking the time to give me some feedback I highly appreciate it!
Post: Short Term Rental Market Research
- Miami, FL
- Posts 35
- Votes 26
Good afternoon BP fam, I'm starting to consider Short term rentals as an investment vehicle for myself and was wondering what is the best way to determine the reservation amounts for an area? Like lets say I want to buy a condo in Miami, or wherever it may be and rent it out on Airbnb, what is the best method of research to know how much it can be rented out for? Do I use comps on other similar properties listed on Airbnb for rent? Does Airbnb provide any resources for hosts to come up with competitive but profitable prices? Is there anything I can do to research possible areas that would work? Basically where should I start?
Thanks in advance for any input!
Post: How Did You Learn How To Analyze Properties?
- Miami, FL
- Posts 35
- Votes 26
@Henry Clark Thank you so much for the very detailed advice Henry! Im very grateful for it and for the time I know it took you to write all of that down. I’m glad you mention to start small and not get clobbered by major BRRRRs. Base hits will eventually lead to runs. Thank you!
Post: How Did You Learn How To Analyze Properties?
- Miami, FL
- Posts 35
- Votes 26
@Nathan G. Thank you! I have been watching the youtube vids and I intend on doing exactly as you say on analyzing as many properties as I can find on websites like Zillow or Realtor.com. Thank you for your advice!
Post: How Did You Learn How To Analyze Properties?
- Miami, FL
- Posts 35
- Votes 26
@Mindy Jensen Thank you so much for the clarification Mindy that really helps a lot! Ill try to not miss any of the webinars moving forward
Post: How Did You Learn How To Analyze Properties?
- Miami, FL
- Posts 35
- Votes 26
@Brice Bishop Thank you for the great info Brice! Never heard of the app but I will definitely check it out going forward when analyzing deals