I am just getting into this (actually acquiring a property) and looking for help. Could someone(s) answer my questions?
- What is reasonable annual profit to expect on a 3 BR modest home in a large city that isn’t particularly a vacation hot spot but has plenty of attractions, hospitals, colleges etc?
- What would be a good annual estimate for utilities and maintenance?
- What are unexpected expenses?
- When Airbnb offers “smart pricing” - is their recommended base price a good guideline of what to expect? Or too high/too low?
- Is the “smart pricing” base price what I’d receive over and above cleaning, Airbnb service fees, and taxes?
- What’s a good target occupancy for above-described large city?
- How can I project occupancy? Do you trust AirDNA or other similar data analysis websites?
- Advice, advice, advice - please let me know any pitfalls or other things you’ve learned or wish you would have known!