I am interested in purchasing a home in Orlando florida for an Airbnb. I have some concerns about profitability with home purchase prices and interest rates on mortgages. Im currently considering a new build in south west Orlando 5bedroom 3 bath with pool for 575k. Can anyone with experience in the area give me any advice? As well as by information on operating costs utilities insurance etc.
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Hello pal! Once you start getting bookings, it's important to manage your property efficiently, and you can use vacation rental software to do this so that guests have a positive experience. Provide clear check-in and check-out instructions, respond promptly to guest questions and concerns, and keep the hotel clean and tidy. This will help you provide your guests with good service and also give you more free time. Hope my answer helps you!
Take AirDNA and Pricelabs dashboard average rates/occupancy % and plug them into a spreadsheet. Start basic: average $ per night x monthly occupancy rate. Is that enough to cover your mortgage? Then start building in costs such as utilities, cleaning, reserves, etc.