0:00 Good Market? Great Profits! 0:35 #1 Metro Markets 1:04 #2 Fly-to Markets 1:59 #3 Regional Driveable Markets 2:51 Check the Regulations! 4:21 Find Tourism Data 5:35 Look at The Income Data
~~~~ If you want to do a vacation rental market analysis, you’ll need to know a few key factors and data points. First, you’ll need to decide which type of short-term rental market you want to be in. You could buy in a metro market like San Diego, a fly-to market like Maui, or a regional market like a national park near your home. Deciding which market to invest in is crucial when calculating cash flow and occupancy or the potential of future regulations.
After you’ve decided on your market, you’ll have to look at things like local regulations, tourism data, and income statistics to see whether or not the area will be profitable. Once you’ve done these four steps, you’re able to dial down on a specific area of a market and finally find the exact rental you want to buy!
Where’s your most profitable short-term rental? Let us know in the comments below!
