AirBnB VRBO Bed and Breakfast etc profitability/occupancy rates

[miket]

I have a lot of things going on and throwing around a lot of ideas, so bear with me

There is a place for sale next to my new place in AR. Very nice 5br, about 7mi from Norfork AR, Norfork River and White River. Fairly popular area for trout fishing.

The problem is I cant pay cash, so would need to finance a good bit of it.

Is there any way to find out occupancy rates or Air BnB etc? I would like to find how often it could actually be occupied to see if it comes close to working out.

I dont need it to actually pay the mortgage, just help offset the cost

[W E H]

no idea about that area but the people i know that did the airbnb thing on a property that they had no intention of using personally. meaning they didn't buy a beach house they wanted to use part time. found it was better to just sign a long term lease with strict stipulations than to deal with the issues of short term rentals. mad neighbors (might not be an issue since you are the neighbor), destructive / problem renters, management companies, city regulations regarding str vs ltr, very unpredictable cashflow, etc. i know there are people that say they make money with it, i just dont know anyone personally that really liked it once they started doing it.

i have no first hand experience but i have quite a few owner financed and rental properties

[Texas Grown]

Should be able to get some comps from the area on a airB&B website.

[JunxMan]

While I can't answer your question directly, I do think that there is a WIDE difference in those rates from property to property. Not just neighboring properties, but from market to market based on desirability throughout the year. My personal opinion is that you need to be a very patient person or have someone who you trust explicitly in order to handle everything from routine cleaning to minor emergencies. Even though I'm a landlord, I couldn't stomach a short-term rental.

[miket]

I would prefer leasing to a family, but was thinking short term would be more profitable. No question short term will be much more hassle

[M16]

Short term rental companies are like most parasites. They invest basically nothing and get most of the profits and none of the problems. I wouldn’t touch that deal with short term rentals in mind. Even if I paid cash for it. Much less toting a partial note on it needing the revenue to make the payments.

[BrandonH]

My Dad has a couple VRBOs he sees over on the ranch he manages. It can definitely be a seasonal dependent business, but the months he's busy it gets real busy. His biggest issue is scheduling cleaning & maintenence between guests. It's not bad if your in a high tourist area where there's hundreds of rentals since there's no shortage of cleaning companies, but in his case he's in a rural area and is dependent upon a very limited number of cleaning company's/individuals. I'm no help on the potential income, but thought I'd mention this.

[Throwin Darts]

Long term rentals are a big enough pain in the A. No part of me wants to get involved in short term rentals. There are plenty of other ways to make money without the headache.

[1riot1ranger]

we use evolve.com to manage two short-term rentals. They will provide you the information you are looking for. Overall happy with results. Biggest issue is finding a good cleaning service if you don't do it yourself. good luck!

[32drawlength]

Nothing to add but my parents live half way between Mtn Home & Norfolk off Oak Summit rd

[miket]

Nothing to add but my parents live half way between Mtn Home & Norfolk off Oak Summit rd

Nice, I'm about 14mi south of there, right on the Baxter/Izard county line. I bought 224ac and having a house built. Should be moving up there around the end of the year

[armadillophil]

I would get on vrbo or airbnb and find some similar properties in area and just reach out to owners and ask them. I have a vrbo on Possumn Kingdom and have helped a couple folks over the years who were starting out.

[HOOKNBULLET2]

I am selling my one and only AirBnb on Monday. It sounded like a good idea. But in reality, it was a loser. Occupancy rates have plummeted since the pandemic ended. Add to that inflation and the overall reduction in discretionary spending and it is impossible to get a positive ROI.

Not even mentioning the fact that you get to deal with 20 plus tenants a year that tear up your property. Buyer beware.

[asu-indian]

I have had one on Lake Fork, 7 bed, 7 bath, 7,500 sqft, since 1993. Lake Fork Lodge. We have averaged around 35% annual occupancy over that time. Price is $995 per night and has been since about 2010. It's paid for itself is about all. You know we're all proud here in Texas that we don't have a state income tax. Therefor property owners get to fund everything. Our property taxes and insurance eat our lunch.

[Slew]

I am selling my one and only AirBnb on Monday. It sounded like a good idea. But in reality, it was a loser. Occupancy rates have plummeted since the pandemic ended. Add to that inflation and the overall reduction in discretionary spending and it is impossible to get a positive ROI.

Not even mentioning the fact that you get to deal with 20 plus tenants a year that tear up your property. Buyer beware.

My buddies that were peacocking around with them during the pandemic have all gotten rid of them! Said the same thing. During Covid it was a cash cow, now it's more trouble than it's worth. We stay a week in 6-8 a year and ones we like we usually just deal with the owner after the first stay and mail them a check and cut out the VBRO fees. We save $$ and the owners like it because they have their $$ up front. Several said folks would complain about something after staying all week and VBRO would refund all their money and the home owner got the shaft! I got rid of my rentals years ago. I don't miss them!