Process

** can copy and paste this when starting new market to research
What are the STR Laws
Look at market: bedrooms, amenities, etc
Find the average annual revenue by bedrooms interested in ex: a 4br = $60,000
use the table from elljay (market stats by bedroom) and then set filter to be the market you are analyzing
Look for the top performing properties of the bedroom counts interested in: top 2 categories in pricing
To find this I filtered by bedroom count under listing profile and then to find the top performing properties I filtered by reveneu and chose luxury to start to find the top performing properties. At that point you’ll be able to see location of the top performing properties and then from there you can change bedroom count and go into upscale if want to see the next tier of properties.
What do they look like? Style, design
Where are they located?
Amenities
Look for things to do and find golden triangles (google bard) (if want some ideas of where to buy property in area or surrounding areas)
Setup a search on zillow with what found
Is this an area we want to pursue? If yes look for realtor on Bigger Pockets

To find markets

keep looking at emails from emir and here
Look at macarthur and new plymouth
look at midwestern cities: st. louis, kansas city, milwaukee, fayetteville
find things to do: nat’l and state parks, college football
check out the lady from bigger pockets podcast: jenni Vega

Examples:

Louisville

Opportunity in 3 bedrooms (20%), 4 (11%) and 5+ (8%)
Opportunity for pool (7%) and hot tub (5%)
Big jumps in per bedroom rev for 4 and 5 bedroom units, 5 bedroom especially
it’s weird because a lot of the “top performing properties” have low to no reviews so airdna might be reading it wrong
to see if address is eligibile for str
seems like there is a big potential for beating listings. not great photos

4 Bedroom

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Looks like 40206, 40205, 40204, 40222 area codes are best
Some of the top performing ones:

5 Bedroom


thinking can just look at airbnb for the superhosts and then see their scores on airdna to find commonalities since don’t have the same feature they used to on airdna to find location. or can just click on them and see if any commonality on location
look at location by hitting luxury for both sets of different bedroom types.
then also look at the amenities and design they offer

Tuscaloosa, AL

1 br (18%), 4br (16%), 5+br (5%)
4, 5, and 6 are massive jumps again in rev per bedroom; 4 and 5 seem like the sweetspots

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