60: Rookie Reply: How Do I Analyze Short-Term Rentals?

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 13 March 2021

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’re asked a lot on how to analyze short-term rentals. Since short-term rentals have different expenses, rent estimates, and occupancy rates, running a short-term rental analysis may seem tricky at times. Both Ashley and Tony own short-term rentals and know the often overlooked costs of running a profitable getaway. If you’re still looking for the best way to analyze your short-term rental prospect, Ashley and Tony may offer some much needed guidance! Here are some suggestions: Understand your average nightly rate, occupancy rate, and annual expenses Use tools like AirDNA and Mashvisor Use Tony’s short-term gross revenue formula Try out the BiggerPockets Airbnb Calculator Know the permitting laws and fees of the area you’re looking into Add regular business expenses to your calculations (accountants, insurance, taxes, etc.) And more! If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Links from the Show Airbnb MLS Amazon theyoungretireeby33 Check the full show notes here: https://www.biggerpockets.com/rookie60 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie show number 60.
0:07.6	My name is Ashley Care and I am here with Tony Robinson.
0:11.5	We're back with another rookie reply.
0:14.5	Tony, please tell everyone what we've decided to discuss today.
0:18.3	Today, we're going to be talking about my favorite topic as of late,
0:21.6	which is short term rentals.
0:23.6	I think I've gotten a lot of questions both in the rookie Facebook group,
0:27.5	Instagram, email, all kinds of places about how to analyze the short term rental
0:32.8	or how to specifically get the data for like your average time we rate and things
0:37.5	like that.
0:38.0	So that'd be a good place for us to start.
0:40.3	Before we get to the episode, let's hear a word from our show sponsor.
0:45.9	If you listen to this podcast, you know, we're all about making real estate
0:49.0	investing less mysterious.
0:50.6	That's why I want to tell you about Zoom.
0:52.0	That's X OME, one of the largest home search engines in the world.
0:56.0	If you're new to investing, this is a site you're going to want to bookmark.
0:59.4	With Zoom, you can search bid and buy all in one place.
1:02.6	Plus their site is super easy to use.
1:04.8	You can tell it what you're looking for, safe favorites,
1:07.5	and make beds with just a few clicks.
1:09.3	But what makes Zoom really cool is just how many listings they have.
	...

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