All Forum Posts by: Trent Reeve

thats what i thought. $150 a month for "unlimited hours" seems awfully cheap. and i would doubt you could hire someone cheaper than that, but maybe so

0 Votes

Quote from @John Carbone:

Quote from @Trent Reeve:

Quote from @John Carbone:

Quote from @Alex Ballesteros:

I am a new investor who is on track to buying my first investment property here in Compton, CA and my initial investment strategy was to have the main house as a long term rental property and house hack by converting the dethatched garage into an ADU which is where I would live in. After my analysis, the income from renting the main house would cover a little over 2/3 of my mortgage, but now I am thinking if it would be more beneficial of having the main house as a Short Term Rental, so I used the Airdna calculator on BP and the annual revenue would cover my mortgage & then some (earn profit on top of my mortgage).

First, what are your thoughts on doing STR vs LTR given my area?

Second, how accurate is the data on AIRDNA? I know this mostly depends on how well executed I set up the Airbnb.

I'd love to hear your guys' opinions & recommendations!

Airdna revenue projections include the cleaning fee. If you are going to be cleaning it yourself, then that's fine, but unless the profit is substantially more you may want to reconsider. you could be creating two jobs for yourself using this as a STR. A hands on property manager, and a potential STR cleaner if you do it yourself. the option of just LTR covering most of your costs seems appealing in this situation.

where did you see or hear this?

https://help.airdna.co/hc/en-u...

didnt know that. thanks.

0 Votes

Quote from @John Carbone:

Quote from @Alex Ballesteros:

First, what are your thoughts on doing STR vs LTR given my area?

Second, how accurate is the data on AIRDNA? I know this mostly depends on how well executed I set up the Airbnb.

I'd love to hear your guys' opinions & recommendations!

where did you see or hear this?

0 Votes

Quote from @Thom Knapp:

Quote from @John Underwood:

I would be looking when there are less people trying to buy. You can likely get a better deal in the off season.

Be careful with Airdna. It is much better to check local competition yourself and know your numbers are more accurate.

How do you know what local competition is actually booking? Is there a tool for that?

you go on AirBnb and VRBO and check on their bookings and open dates.

1 Vote

Quote from @Erin Mullaney:

I'm considering buying an apartment, 2BR-4BR with 10% down, second home mortgage, in the 450K-550K range.

Some stats:

- We probably won't be able to find too many vacation renters in the off season. Season starts in June.

- We have about 70K in savings (closer to 80K once our tax refund comes for 2021, late filing)

- We've never been STR landlords before, total newbies.

- I really just want to be able to cover the mortgage with the rental, don't need positive cash flow, 0 is ok. We plan to visit it in the off season each year, just at the season's end when the area is still warm and nice but with way fewer vacationers. It will be awesome to have a place to go each year.

- Our realtor has access to airdna and is running numbers on how much we would likely make. I'm not getting an account yet because it's expensive and he doesn't mind doing that research for us!

Should I wait until late spring to make this purchase? The good thing about purchasing in the off season is it might be a quieter market. Suggestions on finding vacation renters for the off season?

this is exactly where my wife and i were. we are now under contract. our place is almost completely turn key, but we want to swap out the carpeting for LVP (beach area, looks cleaner and easier to maintain). we know it will be a quieter market until beach season starts. but it also gives us a chance to get some people in, even if just a few, to make sure everything is set up correctly and start getting some reviews behind you. If you havent yet, look up the "enemy method" to balance out financial data vs Airdna and Rabbu. also, you can get a 1 month account with AirDNA. it was worth it to me for $40 to do a deeper dive on this type of purchase.

5 Votes

Quote from @Bruce Woodruff:

Quote from @Issa Joseph:

But ask yourself - how much of this $10k increase (remember alleged) could you gain yourself by doing research and asking questions on this forum.......?

yeah, and it would be one thing if they said, if you dont out perform you get a refund or partial refund. But to say, if you dont, we provide more assistance. So what assistance are they not providing to begin with? or are they just continuing to do what they did before.

1 Vote

as a fledgling investor (still looking for my 1st property) i would say you should definitely list on both. just my personal preference, i always start on VRBO. im sure there are others the same and not listing on there would have you miss out on business. when you are selling a product, the wider audience you reach the better off you are. i believe there are some owner software platforms that can handle that as well as create a site for direct booking.

2 Votes

Denver, Colorado

Quote from @Bruce Woodruff:

I shoot down drones that fly over my property.......

....not yours though.

not legal, you could be charged. just be aware

0 Votes

Quote from @Paul Sandhu:

Quote from @Trent Reeve:

i would stay up on laws. Some cities in Kansas, it is illegal to fly a drone over private property.

The drone app uses GPS. It notifies me if I'm violating any altitude or airspace violations depending on the location.

well, you said you run it over their property, just giving a heads up that some places in Kansas, its illegal. just an fyi

0 Votes

All Forum Posts by: Trent Reeve

Trent Reeve has started 26 posts and replied 509 times.

Post: I have a STR property to analyze but don't want to pay $300

Post: Cost of STR Virtual Assistants

Post: Accuracy of AIRDNA ?

Post: Accuracy of AIRDNA ?

Post: Buying a beach town apartment for STR in the off season

Post: Buying a beach town apartment for STR in the off season

Post: Has anyone used BeyondBNB

Post: Listing on both Airbnb and VRBO?

Post: How do you spy on your competition?

Post: How do you spy on your competition?