All Forum Posts by: Pete Morgan

We get our STR data from Airdna and Airbtics. We leverage as much data as possible including long-term rental data, tax information, and property information so you can have a better idea of the full investment picture rather than just a single revenue number. We even estimate your projected tax savings via the "short-term loophole" and provide branded property management reports and airbnb arbitrage analysis.

Personally, I recommend looking at as many data sources as possible and once you're confident with that number plugging it into BNBCalc and sharing the reports with your colleagues / business partners to get their feedback on your investment analysis.

Jeremy,

I have been looking at your site lately and do like how it is laid out to be able to see which rentals it is using as comps. I also like that it will give estimates on LTR as well.

However, I don't like that there is no flexibility on how or what it grabs as comps. I just checked my lake house because we are considering an off-market house down the street for STR. We just started renting our house as an STR, so it is too soon to tell how well it will do.

I have seen detailed reports from airdna where you can see how long it has been listed. This is very valuable for me because the houses around us only rent in the spring and summer. So, if data is only from the spring and summer then interpolated over the year, it will be way off.

Also, there are some areas on the other side of the lake which are WAY nicer and can ask higher dollars. However, when I put in my address, rather than taking the houses listed near me, it is pulling houses in that higher priced area (even though there are tons of houses listed near me).

So with that said, I am considering an airdna membership.

Thoughts? Am I missing something. DM me if you want to get into the weeds.

UPDATE: I also noticed the seasonal revenue is completely wrong. It say the peak season is March when in reality it is July/Aug.

0 Votes

Quote from @Collin Hays:

Western NC is great! Have you thought about near the Smokies, such as Bryson City or Maggie Valley? If you find a prospect, shoot it to me. I've got a nifty internal calculator that is pretty accurate on income potential. Not profit potential - strictly income.

Do you manage properties in wnc or only etn?

0 Votes

Western NC, North Carolina

Thanks for an the great comments. Sorry I've been slow to respond I was out of town for work all week and am just now getting caught up.

I'd say the point of our trip is to try to narrow it. Currently we're looking from nitrogen all the way to east of Ashville. I think we're going to stay a day west, north and east of Ashville. Hopefully we'll be able to find someone to show us a few houses in each and check out the towns.

0 Votes

Western NC, North Carolina

Quote from @AJ Exner:

Quote from @Pete Morgan:

Quote from @AJ Exner:

@Pete Morgan

Its a great idea, and a great way to go about it. I think you will find that the process for STRs is pretty similar as the LTR space, but the underwriting on getting financing for them can get a little tricky.

Are you planning on hiring PMs and everything as well?

I'll be hiring a pm to take care of it.

Why would financing be tricky. Can't it just be treated as a vacation home and get normal financing?

Pending on the lender you use, it could be straightforward. If you have some other LTRs that are on your credit/in your name you might get some pushback on DTI. If you have your LTRs in an entity of some kind, you should be good.

Thanks

0 Votes

Western NC, North Carolina

Quote from @AJ Exner:

@Pete Morgan

Are you planning on hiring PMs and everything as well?

I'll be hiring a pm to take care of it.

Why would financing be tricky. Can't it just be treated as a vacation home and get normal financing?

0 Votes

Western NC, North Carolina

My wife, child and I will be in western NC mid Feb. We are experienced in long-term rentals, but are considering a mountain vacation home which we could also recoup some money via STR. I should preface with, we are not familiar with the western NC area, but have heard is it nice and seems somewhat affordable. Our preference would be a location that could be fun in the summer (mountains/trails) and winter (snowboarding). This way we can get the most use out of it.

We are located in TX.

If you have any recommendations on realtors or have experience to share, let me know.

1 Vote

Western NC, North Carolina

All Forum Posts by: Pete Morgan

Pete Morgan has started 1 posts and replied 6 times.

Post: Comparing STR data sources (AirDNA, Rabbu, Mashvisor, etc...)

Post: Looking for a realtor with STR experience in western NC

Post: Looking for a realtor with STR experience in western NC

Post: Looking for a realtor with STR experience in western NC

Post: Looking for a realtor with STR experience in western NC

Post: Looking for a realtor with STR experience in western NC