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305: The Rookie’s Guide to Analyzing Rental Properties and Airbnbs in 2023
Real Estate Rookie
How to Project Your Income
You need your occupancy percentage, which gives you how many days you'll be booked out of the year. You use that data to assume what your cleaning fee is for the year and then you add that to your baseline income. So again, say we have a baseline of 68,500. And through our analysis, we identify we can collect another $18,000 to your cleaning fees, which is not unreasonable at all. The second approach is what I call your percentile based approach. What you're doing is looking for properties that are similar in size, design, and amenities functionality location to your property.
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