All Forum Posts by: Samuel Boyd

Love to hear a success story Jason good for you man!! On to the next one? If you are interested in helping others do the same I have come across a few people looking for multifamily in the Jacksonville area I can link you with. Congrats again and let me know what your comfortable in doing for other clients

If you don't plan on practicing, I would sign up with a $0/month brokerage and get ahold of the referral form. Once your license is with a brokerage, you can send outgoing referrals to anywhere in the world at a (usually) 25% fee just for making the connection! 

Hey @Raymond J. Rodrigues great question. 

As mentioned, yes CCB does allow STR's with NO night stay minimums, as long as you register properly. Link to registration can be found here:
Vacation Rental Registration | Cocoa Beach, FL - Official Website (cityofcocoabeach.com)

As for Condo buildings specifically in CCB, there are 7 that allow STR's... if you or your client are seriously interested shoot me a message and I'll be happy to discuss!

 That's the answer I was hoping for! Obviously yes, every valuation method has its limitations as everyone has mentioned, but as a first step quick and dirty analysis I feel that it is close enough. I'm glad to hear you are finding the same in your research! Very valuable insight Zach much appreciated man! 

 Hey Michael, thanks for the advice man! Looking at comps via the enemy method is ultimately the deciding factor what how well can we actually do, so totally agree. Still trying to figure out a way to tell what other hosts base price is. If they are dynamically priced, simply looking at a month of numbers might not mean much about the average on a yearly time scale because of seasonality. But even this I know you can account for with other tools. I think Pricelabs actually has a pretty good "comps" set up where you can monitor performance of others but I need to dive into that further to be sure.

Thanks again!

 Hey Peter,

Thanks for the input. Totally agree with individually looking at properties which is what I do once I find a good potential one that at least comps out decent on AirDNA first. My issue with this method is that if a property is dynamically priced, its extremely misleading to just look at their average daily rate (because of seasonality, and a multitude of other factors that these tools take into account).

Looking at comparable properties' occupancy however is easy and a great way to gauge demand but without a solid known base price comparison, the occupancy doesn't mean much.

 Hey Trent. I totally agree with getting multiple estimates. I'm going to look into Rabbu and Awning for sure! Are those similar services to AirDNA? and good catch but yes, I know AirDNA's numbers are inclusive of cleaning fees.

Hello BP family,

I wanted to get some insight from other STR hosts that have operating revenue numbers. I currently have 1 STR in Palm Bay FL and I am trying to build a system for accurately predicting what revenue we could be generating for the next property we are searching for.

I think the AirDNA rentalizer tool is awesome, but I'm curious as to its accuracy. 

I've compared our actual numbers to what it projects for our property, and I found that AirDNA's projected occupancy is 67% compared to 76% that we are actually seeing. In addition, the projected average daily rate (ADR) is $244 compared to $259 that we are actually seeing (a difference in monthly revenue of about 20% underestimating.

Now this is still pretty close, and I know that it is predicting the "average" property performance based on historical data. I am just curious if other hosts have found similar accuracy or if it is way off in their scenario. Please post your properties AirDNA numbers as well as your actual numbers if you have them and are willing to share!

@Oscar Guzman should be able to help you! He operates with padsplit also in the Orlando market!

Hey Alex!

I have a few insurance agents that write policies in all of FL that are excellent. They can do commercial properties as well. Let me know if you are still looking to link with someone and I'll be happy to connect you!