Listen to the whole Episode:
Hit us up on IG! @theshorttermshop & FB! @theshorttermshop
$55 Billion Property Underwriter: Time Is Ticking To Buy An Airbnb
How many people don’t know how to properly analyze an Airbnb property? There are plenty of tools out there to help with this, but this is the first short term rental analysis tool that I LOVE. We finally have an airbnb data source that has not only the usual scraped calendar data, but ACTUAL historical performance data. Revedy has analyzed over $55 BILLION in short term rental properties, and have won the business of huge clients like Marriott and Blackstone. Now, main street short term rental investors have access to their Airbnb data as well. You don’t want to miss this episode if you need help with short term rental analysis.
Avery: “When in actuality, the Motel 6 is $79 and the Ritz-Carlton is—now I’m going to mess up—my mouth is like $800. You get the point though, it averages out, and that is what happens in the space quite frequently with the data.”
Collin: “Yeah, I see that so much. What happens is that a one-bedroom is not a one-bedroom across the board. It really depends on the property itself.”
Avery: “Exactly. That’s why we started using what we call the ‘enemy method’ at the short-term shop, because we saw this in the data.”
Collin: “We’re not data people, we don’t know how to fix that from a data perspective, but you can get on the platforms and look at the properties around you. Big Data companies are using that to give you averages and say, ‘Oh, well you know this one-bedroom here, the paint’s falling off, there’s a hole in the roof, and the windows are broken. It looks like crap, so that’s probably renting for a lot less than this one over here that’s really nice, updated, and gives a great experience.’”
Avery: “And those two should not be being averaged together. They should be separated. This episode is brought to you by the premier short-term rental Facebook group: Short-Term Rental Long-Term Wealth. We have nearly 50,000 members! This is the biggest independently owned and operated STRR Facebook group, and it has been curated by Yours Truly, Cash Flow Carl. Join us on Facebook, search the group for ‘Short-Term Rental Long-Term Wealth’ on.”
Collin: “Facebook, yeah, no that’s exactly right. And that’s how we’ve looked at the problem and how we’ve been trying to solve it for now, which is not just using scraped data because that’s what we do. We use scraped data, um, we do…”
