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
theyoungretireeby33)
Check the full show notes here: https://www.biggerpockets.com/rookie60
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