How to Analyze a Short Term Rental Real Estate Investment (Step by Step Guide for Beginners)

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  • Опубликовано: 24 ноя 2024

Комментарии • 229

  • @DanKPhotography
    @DanKPhotography 3 года назад +31

    Absolute killer content right here! Thanks for sharing the analysis calculator with us!

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад +1

      Thanks so much!

    • @korniciacc18now
      @korniciacc18now 2 года назад +2

      I totally agree on the calculation. That is abhuge gold nugget. Many charge for such information.
      I know when I make it wont charge for things because why? If im making enough miney why do I need to take others money for information i received freely once upon a time.

  • @yeseniasplace
    @yeseniasplace 2 года назад +1

    Omg! I was just asked to look at a property to see if it has potential and when straight to your youtube and found this video!! Thank you!!

  • @romeovasquez6302
    @romeovasquez6302 2 года назад +1

    Love it!!! Thank you for this awesome video!

  • @joelacroix6224
    @joelacroix6224 Год назад

    By far one of the best videos on the subject i've seen

  • @erikaguilarte8339
    @erikaguilarte8339 Месяц назад

    yall give out a lot of valuable information for free. thank you so much !! Subscribed immediately

  • @alexapalmer935
    @alexapalmer935 2 года назад +1

    Very Helpful, thanks.

  • @emiliomejia5331
    @emiliomejia5331 3 года назад +13

    It’s just now a time of repeating the process and looking and practicing it. Thanks for this. I thought I wanted to be a fix and flip her but now that I’m heavily involved in it it is not something I wanna do moving forward. These general contractors make things horrendous. I’m going to go the route of Airbnb for sure

  • @hsloved1603
    @hsloved1603 2 года назад +2

    EXELLENT, EXTREMELY INFORMATIONAL, EDUCATIONAL AND TOTALLY AWESOME PRESENTATION..ONE OF THE BEST I HAVE COME ACROSS. THANK YOU!

  • @chriswebb4797
    @chriswebb4797 2 года назад

    Great video and thanks for the spreadsheet.

  • @cl94501
    @cl94501 Год назад

    This video is super legit. Excellent for a newb like me.

  • @Friction-Jewelry
    @Friction-Jewelry 2 года назад +6

    New subscriber, sorry for all the questions! - If price labs tells you average occupancy in your area of interest (JT here) is 50-60%, why use 80% in your analysis? seems aggressive, esp coming off 2021.

    • @B3GR8T
      @B3GR8T 2 года назад

      @therealestaterobinsons

  • @CoachKenCanion
    @CoachKenCanion 2 года назад

    Dude, I started following yall because I want to be in this busiess. Yall do a great job. I am learning. Trying to figure how to start

  • @millerjarrell
    @millerjarrell 2 года назад +1

    Great video! Occupancy tax is another big monthly expense to factor in. In Waco TX we have a 6% state, 2% county, and 7% city occupancy tax.

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  2 года назад +1

      Great call out! In our markets, Airbnb and VRBO charge the occupancy taxes directly to the guest.

  • @tsukiwibeauty5240
    @tsukiwibeauty5240 2 года назад

    Thank you for the calculator ✅

  • @Blestmama7
    @Blestmama7 Год назад

    Great information! Thanks for sharing ❤

  • @BlackEquity
    @BlackEquity 3 года назад +4

    Awesome breakdown! Purchasing my first Airbnb this year and your calculator has been so helpful in analyzing properties! Keep going guys.

  • @sirishakusuma
    @sirishakusuma 3 года назад +1

    Thanks Tony. This is amazing. I m falling in love with your content. Amazing content!

  • @MrAzizisse
    @MrAzizisse 2 года назад

    that was a very usefull practical real example demonstration . thanks for your video

  • @cburgz3697
    @cburgz3697 2 года назад

    great content man, thank you many times over

  • @larrywald8899
    @larrywald8899 2 года назад

    So thorough, You rock!! Thanks so much for the calculator as well.

  • @dewholdingsllc1050
    @dewholdingsllc1050 Год назад +1

    Thanks for the content. I think you did a clear job. Have you analyzed a property that you don’t own? Using a rental property? I would be interested in seeing a long term leased property (similar to a commercial NNN lease)
    Sales list price in destination markets are too inflated. The high prices are not real when the market crashes. I never owned property that was under water.
    Moreover, I’m not a retail real estate investor. So I would never buy anything listed on MLS. Those are with few exceptions retail properties. I purchase properties off market or under market. If I find a property on MLS and pursue purchase it’s a distressed seller and willing to sell subto or seller financing with little or no money down out of my wallet or some other creative financing method.
    How is this business model in April 2023, after many destination cities have housing market crashes going on? In my sub market Austin City Limits, housing is crashing after the peak May 2022, and with 33000 new construction apartments units coming to market any day rents are going down also.
    My 2 cents.

  • @AS898-h3u
    @AS898-h3u 5 месяцев назад

    Thank you so much you won a new subscriber!

  • @movingtothemainline
    @movingtothemainline 2 года назад

    You're THE BEST, Tony. Thanks for sharing all of this info!

  • @chillguy2758
    @chillguy2758 3 года назад +1

    Best channel ever!

  • @ntwynn
    @ntwynn 2 года назад

    This is your best video my dude. If you could do more of exactly this that would be amazing!

  • @erickdecasas5550
    @erickdecasas5550 2 года назад

    Súper helpful, thank you!

  • @ferlanlebrado5000
    @ferlanlebrado5000 3 года назад

    Love the video editing! Very professional!

  • @donovanfrost129
    @donovanfrost129 3 года назад +6

    Thanks Tony. Been loving the Real Estate Rookie podcast as well! What are some key differences between Price Labs and AirDNA? Do you use both, or do you prefer one over the other?

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад +6

      Thanks! Both are awesome tools. I've leveraged PriceLabs more recently because the data is a bit more granular. And I think it's a little cheaper than AirDNA

  • @Ldogg0023
    @Ldogg0023 3 года назад

    Seriously great video. I appreciate all the info you are sharing.

  • @kamicamille
    @kamicamille 3 года назад

    Great video! Very informative and much appreciated

  • @irmafranke1012
    @irmafranke1012 3 года назад +3

    This was the EXACT video I needed!! Thank you so much!!! Excellent job!!!! Thank you, thank you, thank you!!!!!

  • @Hotdads1
    @Hotdads1 3 года назад +1

    Thank you for doing this!

  • @allejess
    @allejess 3 года назад +1

    Nicely done Tony! Clear and concise 👌

    • @ShortTermRookie
      @ShortTermRookie 3 года назад

      Yes it is well constructed and simple to understand. He’s a good inspiration to watch for making content. I plan to keep watching for mine.

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад +1

      Thank you!! Glad to hear it was easy to digest!

    • @ShortTermRookie
      @ShortTermRookie 3 года назад

      @@TheRealEstateRobinsons Your content definitely giving me inspiration and motivation for my channel - thank you!

  • @brianwilliams3597
    @brianwilliams3597 3 года назад

    Very helpful, Tony. Thanks for making the calculator available also. Grateful. - Brian

  • @EmmanuelIkoe
    @EmmanuelIkoe 6 месяцев назад

    Great and valuable insights

  • @manyourcoolchris
    @manyourcoolchris Год назад

    Super helpful thank you

  • @bonnieplawman2353
    @bonnieplawman2353 10 месяцев назад

    Fantastic! Thank you

  • @patricewilliams5653
    @patricewilliams5653 3 года назад

    Amazing video! Thanks for sharing. Saw your video with Rob this morning and have already watched 3 of your videos. You and Sara are killin it!

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад

      So glad you’re enjoying the content! Thanks so much for subscribing 😀

  • @jameskennett9973
    @jameskennett9973 2 года назад

    Great info, thank you so much for sharing! Will definitely use this to analyze properties.

  • @AvgJoeCda
    @AvgJoeCda 3 года назад

    Great video...really well explained! Thanks for the valuable content.

  • @Omkar-651
    @Omkar-651 3 года назад +1

    Really excellent content!!
    How much is price labs? Think it's worth buying this if I'm analyzing deals to buy in any market?

  • @Obiejax
    @Obiejax 3 года назад

    Thanks for the spreadsheet and info!

  • @prasi23
    @prasi23 3 года назад

    Great content & helpful tips. I am new to this as well & love to start something soon.

  • @jsanchezz123
    @jsanchezz123 2 года назад

    Just found you guys. Third video in. Great content. Thank you!

  • @lilbonbon1210
    @lilbonbon1210 2 года назад

    Awesome video! This really helped me understand how to analyze a property 🤌🏽

  • @sharonbeatty8047
    @sharonbeatty8047 3 года назад +1

    Thanks. Good info. I've been trying to get my husband interested in rental properties that we can use as an STR most of the year. Of course it has to cash flow and this was a great description for how to figure it out

  • @rickymagicanada
    @rickymagicanada 3 года назад

    Fantastic content, thank you Tony

  • @TheWanderingFirefighter
    @TheWanderingFirefighter 2 года назад

    So helpful. Thanks man.

  • @chart6890
    @chart6890 Год назад

    Great video and thank you for providing your analysis tool. Appreciate you sharing your learnings! What types of lenders do you find are best to go to for Vacation Rentals?

  • @maverickf13
    @maverickf13 3 года назад

    I came from Robuilt - so thrilled to have found you 😆

  • @Mashvisor
    @Mashvisor 2 года назад

    Great analysis!

  • @zachhenson6709
    @zachhenson6709 3 года назад +1

    This is literally the most beautiful video I have ever watched.

  • @vane_715
    @vane_715 3 года назад +1

    I do have a few questions (possibly for another video). Do we need a property manager if our Airbnb is not in the same state where we live? Or can we manage long distance? What does a property Airbnb manager do? Does Airbnb offer that? Or do we need a real estate agent? How much do they charge? Is it worth it? Thank you so much in advance!!

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад +4

      We have a video coming out in a few weeks about self managing your properties remotely!

    • @vanessaandrade8210
      @vanessaandrade8210 3 года назад +1

      @@TheRealEstateRobinsons Thank you so much!! Looking forward to it!!

  • @fouedbenhadjali7816
    @fouedbenhadjali7816 3 года назад

    Love what you do guys … very well explained and entertaining

  • @anthonymg73
    @anthonymg73 3 года назад

    Thanks man. Great info! From one Tony to another. Loving the vids.

  • @cyrusjulian187
    @cyrusjulian187 2 года назад

    New subscriber here. Great info and got some new insights. Two notes though that I might question: 1) regarding insurance, I trip out on potential emergencies that could end up being huge liabilities so I’ve been looking at proper insurance which I’ve heard can be very expensive so that insurance figure would be a lot higher. Second, I would use a 1.25% tax estimate as the taxes will be reassessed when you buy the property. Apologies in advance if Zillow does that already but I wasn’t sure if it was doing that based on asking price or the existing owners amount. Thanks again

  • @themarkandmelteam
    @themarkandmelteam 2 месяца назад

    This is an excellent video share of an excellent calculator you created! Do you find that the costs, fees and income has changed drastically over the last 2 years? Do you have an up to date video of analysis? It just seems like alot homes at todays costs, do not pencil out. Plus, there is so much inventory coming on the market, especially in some areas!

  • @jesusmoreno760
    @jesusmoreno760 3 года назад +2

    Great video Tony! So when you went over insurance line item it got me thinking do we need a special insurance policy since it will be. A vacation rental?

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад +2

      We do let our insurance company know that it’s an STR, and there’s a special add-on for this type of usage.

  • @mram7715
    @mram7715 3 года назад +1

    Hi Tony. Can you talk about how to best insure your short term rental for liability purposes as well as your advice on LLC’s?
    Thx

  • @ccrathin100
    @ccrathin100 Год назад

    Thanks so much for the spreadsheet. I was looking for the other two tabs but did not see them. Has it been updated?

  • @NickinNashville
    @NickinNashville 2 года назад

    this was fantastic

  • @HyperPower26
    @HyperPower26 5 месяцев назад

    Good information

  • @hajs8273
    @hajs8273 2 года назад

    You and your lovely wife are very brilliant.

  • @eszterdory8565
    @eszterdory8565 2 года назад

    Do you think AirDNA is worth the subscription or do you recommend another tool? Thank you!

  • @robbiemerriweather7093
    @robbiemerriweather7093 3 года назад

    Great content

  • @rei_cowboy
    @rei_cowboy 3 года назад

    I love the calculator but I didn’t see monthly supplies there. I know I can just put that in but I was curious on how much you spend. Thank you.

  • @bi0lizard1
    @bi0lizard1 2 года назад +1

    Thank you. This was extremely informative and helpful. I noticed you didn’t include this fee for the property management company in your example? This would’ve been nice to see how it affect the bottom line.

    • @Sanchocloz
      @Sanchocloz 2 года назад

      That’s is also what I noticed you did not include the property management expenses which I heard is between 15-30% of rental. Is this property management fee with the cleaning fee or without the cleaning fee included. It seems like their won’t be enough profit for the owner after all the expenses.

  • @SksToTheMini14
    @SksToTheMini14 3 года назад

    Thx for the vid.

  • @Fourthesauri
    @Fourthesauri 3 года назад

    Great info, thanks

  • @galeforcepropertymaintenan2686
    @galeforcepropertymaintenan2686 2 года назад

    Excellent info. So now that you know how much $ you’ll need and how much it will make, how would you structure a deal with an investor partner?

  • @7thSonProductions
    @7thSonProductions 3 года назад

    Hey Real Estate Robinsons. I'm a new subscriber; I saw you on The Robuilt Channel and thought I take a look, great info!! I'm working up to participating in Airbnb. Between you and Robuilt I think I'll have enough knowledge to make it work.

  • @leighmorton9589
    @leighmorton9589 Год назад

    Awesome content! The STR Analysis Calculator on your page doesn't have the "Rental Comps" and "Future Price" tabs. Shoud it?

  • @LiniousRHoliday
    @LiniousRHoliday 2 года назад

    Solid gold 🪙. Amazing video 🤩

  • @dawentsien3985
    @dawentsien3985 Год назад

    Would you sign an apt lease to use for this short term rental income strategy?

  • @unvme715
    @unvme715 3 года назад

    Such good info!

  • @wordsofcheer
    @wordsofcheer 2 года назад

    New here! Thanks for the info. I'm interested in this industry, so starting to learn. I believe another video you mentioned having around 10 properties, where are all located? I know CA and TN. Also, when people break your things or maybe even steal, you don't contact them for reimbursement, instead take it out of your maintenance budget? What made you guys get into the business, background story or did I miss the video on your beginnings?

  • @DanielWestCoast
    @DanielWestCoast 3 года назад

    Ijust want to say thank you man.. i am out to start my journey in this soon and im just really excited about it all. Hope to catch on fast cause this seems like alot of fun. Definitely going to be watching all your videos. Ireally love how thorough you are at explaining in detail. Very easy to digest for the rookie/beginner.
    If you have any other resources that you can recommend where ican learn more of this or just make like some courses thats really "beginner friendly" and i will buy it as im sure others will to. Thanks again for the content, stay blessed bro 🙏🏽

  • @erinwaters88
    @erinwaters88 3 года назад +1

    Question: What is the benefit of putting only 10% down and paying for the private mortgage insurance, is it just so that less money is tied up in properties or is there other benefits? I was always told to put down the 20% and not do private mortgage insurance but that advice was referring to when you buy the home that you will live in. So curious about your strategy with this. Thanks!

    • @restrjourney8694
      @restrjourney8694 3 года назад +2

      You got it. In theory that 20% could get you into 2 properties, which could potentially help you build cash flow faster that having that additional 10% tied into your investment. Of course you generally cannot do this more than once. Don't quote me but I think you can only have 1 vacation home mortage/your name.

    • @nawgee
      @nawgee 2 года назад

      @@restrjourney8694 I thought loans for vacation is based on area. So if you want a vacation property in FL, then another in the smokies, and then another in Joshua Tree for example, then you'd be able to do that

  • @Ghlknxmk
    @Ghlknxmk Год назад

    How do you account for changes in the law cracking down on short term rentals? I'd like to invest but it seems that most major cities/states these days are increasingly enacting laws severely limiting the ability of people to own short-term rentals that are not also their primary residence. Curious to hear how you deal with that when it comes up/identify markets not subject to those laws/account for the risk that such a law might pop up in a place where you already own and operate an airbnb.

  • @vanessarios6497
    @vanessarios6497 Год назад

    Just saw your video. How do you identify the most profitable cities in a certain state? I live in MD.

  • @bryantharrison8271
    @bryantharrison8271 2 года назад

    Thanks for the very good info. My wife and I are thinking about doing an Air bnb. We have our own house (it has a mortgage) plus we inherited her parents house (no mortgage) which has 6 bedrooms and is located in the mountains near a lot of wineries and a major Equestrian center but I would not call it a major tourist area. It seems like a no brainer but is it as easy as I think (all we are paying on the house is taxes and utilities)?

  • @brandonm5083
    @brandonm5083 3 года назад

    If you ever visit Shreveport, I would love to buy you lunch and pick your brain. Currently stationed here for the next year, but you’ve motivated me to get started with STRs.

  • @susanamoorrealtorlarosarea1097
    @susanamoorrealtorlarosarea1097 2 года назад

    Hi I have been follow you I have 2 Airbnb in Orlando Florida but the slow season like now August and September are veryyyyy slow I lower the price is beautiful 3/ 2 Condominiums. What advise you can give me. Best regards

  • @yeseniasplace
    @yeseniasplace 2 года назад

    Do you provide the form your showing?

  • @tj_tracy_
    @tj_tracy_ 3 года назад

    Love the content!! Can you please straighten the frame behind your head 😅

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад

      😂🤦🏻‍♀️I hate when it’s crooked and I didn’t realize until after filming!!

  • @BDtheZero
    @BDtheZero 3 года назад +1

    Great video. I heard you say that most of your properties you put 10% down. Are those conventional loans?

    • @stevend481
      @stevend481 2 года назад

      Theres vacation home morgages that are 10% down. He said it on his bigger pockets episode

  • @MrAmine293
    @MrAmine293 3 года назад

    Thanks so much Tony, this is Gold. Appreciate the calculator and the checklist

  • @Kendallkai_
    @Kendallkai_ 3 года назад +1

    Hey real estate robinsons!
    What loan are you using for 10% down?
    Thanks!

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад +1

      Hey! Talk to a loan officer about a second home mortgage 👍🏿

    • @lapchurng
      @lapchurng 3 года назад

      @@TheRealEstateRobinsons don't I want to put more down so my monthly payments are lower?

  • @ttaralli
    @ttaralli 3 года назад

    To determine utilities you mention reaching out to airbnb hosts in the area. For this do you use forums or do you suggest just reaching out to listing hosts directly?

  • @tlxreed
    @tlxreed 3 года назад

    Great video! Do you have a preference for Pricelabs over AirDNA?

  • @lycontho
    @lycontho 3 года назад +1

    Hi, can you talk about how you are able to purchase properties with a 10 percent down payment? Typically lenders are asking for a 20-25% down payment for investment properties. Thank you

    • @erikmoreno1237
      @erikmoreno1237 2 года назад

      I was wondering the same any insight would be helpful

    • @garyCauser
      @garyCauser Год назад

      The seller carry’s back 10%

  • @TrilbyWorks
    @TrilbyWorks 2 года назад

    On the spreadsheet, what are the fields "user input" and "calculated" for?

  • @divinebunch6178
    @divinebunch6178 Год назад

    What template did you use to build the analyzer? I tried downloading the checklist and the calculator, but both links lead me to the calculator. I'm really appreciating your video content!

  • @lapchurng
    @lapchurng 3 года назад

    Do you change the Airbnb did codes each time?

  • @gregoryschwartz9523
    @gregoryschwartz9523 2 года назад +4

    I was building an Airbnb analysis calculator and this is just the video I needed! Thanks. I was wondering, on Pricelabs, does the revenue and or daily rate include cleaning cost or is it strictly the rental rate? Thanks again!

    • @joelfelicio3007
      @joelfelicio3007 2 года назад +1

      I have the same question.

    • @jenniferasalcedo
      @jenniferasalcedo 2 года назад

      Strictly the rental rate. I have to add in the cleaning cost in Guesty, the PMS

  • @AnthonyCiccotto
    @AnthonyCiccotto 3 года назад +1

    Hi Tony, Quick question. Love the video by the way. Exactly what i needed. So i'm not sure if i missed this in the video, but how do you decide on the average 12 turn overs a month to use when figuring out the cleaning cost? If you can explain that as if i'm 4 years old id appreciate it. hahah Thank you!

    • @TheRealEstateRobinsons
      @TheRealEstateRobinsons  3 года назад +6

      Hey Anthony! Great question! We did the 12 turn average based on data from our actual properties, so I totally understand why that part could be confusing.
      One way to pull this piece of data is to look at the “average length of stay” for your market. If people stay, on average, for 2 nights, and you’re running 80% Occupancy in your market, then (30 Days / 2 nights per stay) = 15 nights * 80% = 12 turns
      Haha not quite 4 year old level, but hopefully that makes sense!

    • @AnthonyCiccotto
      @AnthonyCiccotto 3 года назад

      @@TheRealEstateRobinsons Thank you for your response! Oh i see, ok that makes sence. So how would someone with zero properties or zero in the area decide on what turn over number to use when calculating these numbers. Seems like there isnt really any data on any of the data sites that i can pull something like that from. Is there a number that is a good rule of thumb to use?

    • @benmarr352
      @benmarr352 2 года назад +1

      I'd guess days rented per month divided by average rental days (available on air dna)

    • @Harthockey8
      @Harthockey8 Год назад

      @The Real Estate Robinsons I notice you left mgmt blank because you’re self managing. Do you ever include a fee to cover your overhead to run the property or plan for future outsourcing? If anything, even just an extra layer of conservatism.

  • @ryanwood1062
    @ryanwood1062 2 года назад

    Thanks for the video!!! Question though. When looking at comps I can't seem to get it to show me the last 30 days. Only 365. I've changed it up top to 30 and it won't change down where I filter by revenue. Am I missing something?

  • @Gonewiththeshirt
    @Gonewiththeshirt 2 года назад

    Hi Tony how can you pay10% down payment and 3,5% interest rate " isn’t 7% interest rate more practical, also who help you push trash can out and pull it back two times in a week. Thank you

  • @EricSmith-yg6nu
    @EricSmith-yg6nu 2 года назад

    Great video but you skipped over the PM fees. Why is that?

  • @dust5248
    @dust5248 2 года назад

    Great video!
    How do you know that the property would average 80% occupancy though?

    • @cyrusjulian187
      @cyrusjulian187 2 года назад

      I think he said he based that on the comps