An Opportunity For Rental Arbitrage Presents Itselfįast forward a few months when I had quit my job in the water industry (a story for another time, perhaps), I came upon an opportunity to do just that: rent someones property and put it on AirBnB. “I knew it!” echoed through my mind, feeling like I had just wasted years on a good idea that I failed to execute. “Rent me!” They called to me, but I never really looked into it. You know the ones we’re talking about? The ads from some big “gurus” talking about how much money you can make by renting out someones property and putting it on AirBnB?įor years I’ve often wondered if the idea of rental arbitrage held any water when I saw vacant properties with signs in the yard. The wind was at our back and our sails were adjusted forward, setting off into the sunsets of financial freedom. There we were: bright eyed and bushy tailed with a new adventure ahead of us. Then you find yourself struggling to stay occupied, trying everything you can to move the needle only to find out that the information you had been looking for was already available the whole time – and just confirmed what you already discovered. Imagine you had quit your job and were making a go with a new business in rental arbitrage, risking it all.
In fact, if you just take the data at face value, like we did, then you can dig yourself into a pretty deep hole…like we did.īut if you wield this tool properly, you will avoid charging in blind and can set yourself up for success. Now, I’m not saying that AirDNA is a perfect tool by any means.
In this article you’re going to learn how we lost $10,000, what we did wrong, and how we used AirDNA to find gaps in our market. To be clear, we feel that AirDNA is a critical tool for market research. Our story regarding AirDNA and how we turned around our AirBnB rental is worth telling, because you’ll be able to avoid the same pitfalls we did when choosing and setting up your property. In this AirDNA review I’m going to cover what it is, who it’s for, and what impact it made for us that helped our business.
However, when you lose over $10,000 from a mistake that could have been avoided, it would be a total waste to keep this lesson to ourselves. When it comes to losing money, I don’t mean to brag.
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