How to Analyze a Short Term Rental Investment (The Enemy Method)
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- เผยแพร่เมื่อ 31 ต.ค. 2021
- Wondering how to analyze a short-term rental investment? You may be used to analyzing long-term rentals, but there are some stark differences when it comes to vacation properties. You’ll most likely be using different data tools, different pricing structures, and looking at varying levels of vacancy. If you end up doing your short-term rental analysis wrong, you could be throwing thousands (if not more) away on a base-hit deal instead of the grand slam you accounted for.
Avery Carl, our short-term rental sorcerer and author of “Short-Term Rental, Long-Term Wealth”, has been around the block with vacation rentals many times before. She knows the common data slip-ups and how much of an impact small outliers can have on your analysis. That’s why she developed the “Enemy Method”, a way of sifting through short-term rental data to get the numbers you need to chase a deal.
Did Avery’s step-by-step walkthrough help you on your short-term rental journey? If so, let us know in the comments below and we’ll do some more of them!
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Check out Last Week’s Episode on Vacation Rental Pet Policies:
• Should I Allow Dogs at...
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Data Sources Mentioned in This Video:
AirDNA: www.airdna.co/
PriceLabs: hello.pricelabs.co/
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Grab Your Copy of “Short-Term Rental, Long-Term Wealth”:
store.biggerpockets.com/produ...
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The Short Term Shop and The Mortgage Shop from Avery Carl:
Buying: theshorttermshop.com/
Funding: mortgageshop.co/
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How to Analyze a Short-Term Rental:
www.biggerpockets.com/blog/an...
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Follow Avery on Instagram:
@theshorttermshop or / theshorttermshop
ok soooo what now? Why do I feel like there should be an ending to this. Its great information indeed but what does it mean? Now that you've analyzed your enemies, what now? How do you use that data to price your rentals?
This is a fantastic film chock-full of important information, especially for those who either own or are intending to set up to least their property.
This is Brilliant. Thank you Avery!
Great tutorial. I learned a lot on how to use the Enemy Method to look at the competition. Thank you
Another great podcast episode, thanks for sharing this one
Awesome! I've been doing this, and am still a bit confused by the duplicates. What is the REAL number they're doing if they are listed on more than 1 platform?
Looks like you need a paid subscription to AirDNA for this market to analyze properties like this, correct?
I plan to follow Avery’s legacy. I totally think STR is the way!
Is there a video where you show how you look at the data in PriceLabs?
Love the walk-through of analyzing STRs! This method of teaching is incredible, thank you for sharing and helping out the REI community!
Avery how many STR in an area is considered oversaturated, where conducting the enemy method isn't going to help?
Great info :) if you use vrbo and Airbnb to list , do they cross update link when booked by Rentor or do you have to keep up and block availability on your own ?
Manually on your own :(
Use a channel manager. I like Your Porter.
I agree that photos should be high quality, but at the same time, I don't believe that they need to be pro and that you can't use a late model iPhone camera. I have seen cases where the photos are so amazing that create such high expectations that when a guest sees the space in person, they end up feeling disappointed because the photos depict the space as being way nicer than it is. Most of my photos are high quality and carefully staged, but they were not taken by a "pro." My occupancy rate is still very high and the common feedback I get from guests is "the photos don't do the house justice... the house is actually nicer in person" - which often leads to positive feelings and great reviews.
Please do a video on whether or not a cabin needs A/C to be competitive. Also, a video on if we should purchase using an LLC for tax purposes. I want to buy a car for my business and I wonder if I could write it off easier if it is under my business name.
We stayed in a cabin in the mountains of WV in the summer with no A/C and it was rough, esp for the young kids because they were staying upstairs and it was about 85-87 each day and barely under 65 at night. I think A/C would be a great amenity to offer and set yourself apart, especially the further south it is.
You need to talk to a CPA for the car. For the A/C, it’s pretty self explanatory. No one wants to sit in a hot cabin if they don’t have to. People with A/C will get booked before you.
literally no one is gonna stay in an airbnb w no a/c, be smart
@@timothybilsky3023 I think you’re right. I see most cabins do not have A/C. What area of WV did you stay?
Of course get ac! People go on vacations to REST AND REJUVENATE. TOSSIMG AMD TURNING ALL NIGHT AND HAVING NO REFUGE FROM THE HEAT WILL NOT HAVE YOU COME BACK TO YOUR WORK LIFE RESTED AND REJUVENATED. AMD UNLESS THEIRES A POOL OR LAKE NEARBY YOUR GONNA HAVE SOME EXTREMELY CRANKY UNHAPPY KIDS TO DEAL WITH. DONT BE A CHEAPO AND INSTALL AC OIT OF KINDNESS NOT JUST FOR PROFITS! YOUR HEAD IS ALREADY IN THE WRONG PLACE FOR THIS GAME 💀 ☠
what a great way to start the day! Thank you for making this video!!! Avery, bringing value as always!!!!
How about using airbnb analytics software?
The property that had two separate listings had two different prices, so was their total income the sum of the two listings?
Noticed that too different nightly price...tsk tsk... good o'le incompetence at the simplest of tasks!!! Maybe they made the vrbo price higher since the great majority of prices for extremely similar properties are higher. Vrbo markets to "higher end" SEEMINGLY CLIENTELE, but as we were just shown its the exact same. Like there are no special prerequisites your property has to have to be on vrbo but they market the host site like their would be. Oh lord vrbo is simply missing out on so much opportunity. It clearly shows thats why not has many people use vrbo only or b&b specifically. People need to know to use both! I'll admit it I wasn't sure mine would "qualify" for VRBO HAHHA Oh lord what a fool I feel like but glad I know now now!!!
Just re read. No of course not lol thats impossible because they're going to book with one site and that's it they're not gonna book the same house on two different sites obviously the owner simply goes to the unused site and puts in the days it's vacant manually since they didn't link them like they should have because it's easier? It does it automatically for you too. That's also why the prices were able to be different
Because they simply weren't linked like 99% of people do. They're probably just new at it and and learning. If this lady doing thus video was kind she would have let them simply know through message while she was there. Tsk tsk...most ppl just care for themselves. Point proven here lol
How does one price their rental based on this method?
As a consumer I could care less if it has pro photos or not. As long as the photos are accurate to what it actually is, and place is clean.
As a consumer you would be an exception to the rule
I like how upset she is at 16:20 at the spelling xD
Is this the paid Airdna license view?
Isn't this just comping?
Jounrey 😂😂😂
The more I watched the more my heart sank for these people. This is a business and they don’t know how to run their business to the fullest potential. It makes me so sad for them
This is not a "method". You just looked at some comps for your property 🤷♂