Top 3 Airbnb Investing Tools

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What's up guys, my name is James and in today's video, we're going to be talking about my top three tools that I highly recommend you check out for short term rental investing. Now these are for the most part actually tools, I would also recommend using, I would recommend using two of them very much so for managing properties on Airbnb as well. But specifically in this video, we're going to be more kind of geared towards actually investing in properties for short term rental and actually buying the properties to use them as short term rental properties. So regardless of which path you're looking to take, there are actually two trainings in the description down below their link that I highly recommend you check out. So if you are interested in buying properties, investing properties for short term rental, that I highly recommend you check out our free training that's put together for that, I'm actually gonna give you one of these free tools completely free, just as a bonus for signing up for that training. So one of the tools I'm gonna talk about, you're gonna get that for free. That's our short term rental analysis calculator. And then if you are interested in managing other people's properties on Airbnb and building a full time six figure income doing that, then I highly recommend you check out the other training that's linked in the description down below. That's for people that are more looking to do this as a full time business and they want to get started without any money down, they don't want to pay to buy properties, rent properties, furnished properties, just want to build some great power cash flow. And that is a really great business. And the train down below is going to show you how to get started in that. So without further ado, let's jump into it. Let's start with tool number one, which is air DNA. Now air DNA for anyone that doesn't know is a data mining website, where you can basically grab performance data from short term rental properties, or Airbnb is in all different areas all over the world. It's a really, really cool tool, because you can basically go into whatever area you want to invest in or you want to manage properties in. And you can look at how properties in that area are performing you can look at what property is performing the best is it the three bedroom properties or is it the condos is the one bedrooms, you know, do properties with a hot tub perform better do properties with certain amenities performed a lot better, to Properties in a specific area perform better. So you can really break that down and know where the biggest and best opportunities are. So air DNA is a really cool tool, I am not personally sponsored by them or paid to promote them, it's just the tool that I use, you can get a little bit of data for free on an area, just some really basic stuff. And then you can pay to subscribe to that area to grab the more in depth data. And it really does go in depth. So to me, that's a no brainer, it's a very small price to pay their subscriptions start I think about $20 a month, and then go up to 100 or $120 a month for some larger areas. But when you're buying a half million dollar asset, that definitely is pennies, and it's going to really help you to analyze your properties to make sure that you make the best choice possible. I also recommend if you are going to be managing properties in an area because again, you're looking to build a substantial income, it's a very small price to pay, to be able to really pinpoint exactly what properties you want to focus on and you want to manage. So that is tool number one that I highly recommend, again, it's called Air DNA. Now, the other one that I recommend is a tool that I'm very biased about because it's one that our team built, he built it mostly for our internal use, but I am gonna have it linked in description down below. So you can check it out. It is a Google Chrome extension,
it's completely free to use, and it's called Air export. One of the issues that our team ran into when we're analyzing properties on air DNA is that on air DNA in order to actually export that data, there's really no easy way to do it. And we really want to have it in spreadsheets that we can easily add it up, manipulate it look at the different months. Whereas it's a little bit more tedious to do it in your DNA. If you actually used air DNA, you will know exactly what I'm talking about. Basically, if you go into an area and you see, you know, you want to look at the revenue numbers for a group of properties, let's say three bedroom properties in a given area, well, what you need to do is go on air DNA, look at the revenue numbers, and then it gives you a chart that outlines every single month. And you basically would have to manually add all those up, just hover your mouse over to see what each month was what the you know what each each point on the chart was at, and then add those up manually. It's tedious, it's time consuming. So export is a pretty simple Chrome extension that our team developed to allow us to just pull that data right from our DNA into an Excel spreadsheet. So we can have it we can easily manipulate the data that added up figured out exactly what we're looking for and pull the actual outcomes out that we want from our DNA, pull those net numbers out. So it's a really great tool, I highly recommend it. If you are going to be analyzing more properties on air DNA, it's just going to speed up that process because we found that we were wasting a lot of time manually adding these things up. So that's the other tool again, it's called Air export it is available for download onto your Chrome browser in the Chrome Web Store. I'll have a link to that in the scription down below as well in the last tool. The third tool that I recommend you check out is a short term rental analysis calculator. Now we actually have two of these one for analyzing properties you want to manage and one for analyzing properties you want to purchase. Again, the links in the description down below to those free trainings. Each one is going to give you the respective tool completely free once you attend the training. So I highly recommend you check those out. And I want to speak specifically about our short term rental analysis calculator that we use for investing. That is a real really, really great tool, because it allows you to look at the purchase price in the property, all the all of the income projections for the property that again, you can grab from air DNA. And then also look at the expenses for their property, whether they're property related expenses, like your mortgage, your taxes, your insurance, your maintenance, all that stuff, or your more short term rental operational expenses, like for example, cleaning fees. So you can analyze all of that and look at the whole picture and figure out what is your actual return on investment, you know, what is the return cash on cash look like all these different factors. So it's really, really great, you can look at what your cap rate is all this different stuff. So really great to be able to look at that and really analyze it, it's the only way that you can make good investing decisions is to have a full analysis, you want to be making these decisions based on data, not based on a hope and a prayer, which I see investors doing all too often when it comes to short term rental properties. So I highly recommend using that tool as well, whether you use the one that we've got that we've got for free in that train down below, or you use a different one, there are a few different ones out there, just make sure you use one that allows you to take into consideration all the different factors relating to a specific property, make sure that you can take everything into into account. So you have the right numbers, and you're going in eyes wide open to this investment. I always like to tell people, it's just such a, you know, it's such an obvious thing. But I think it's something that is common sense, but not common practice is you know, you look at someone like Warren Buffett, what are his two rules for investing rule number one, don't lose money. Rule number two, don't forget about rule number one. And the reason for that is not you know not to be cheeky, but like it really is so important not to lose money or not to underutilized your assets and underperform with them. Because with investing because we're dealing with compounding every loss you take impacts you drastically in terms of the time horizon that it takes to get to that critical mass of that nest egg that you're trying to build. So if you can do things quicker if you can minimize any losses, but even more, so minimize any opportunity costs or your property's underperforming, or you're not buying the best possible property. And that's really going to speed up your time horizon to get to that place of financial freedom that you're looking to get to wherever your goals are with investing, really, it just is so so important. So that's why I highly advocate for data. That's why, you know, all three of my tools really revolve around analysis around data around going in eyes wide open, because that's just a philosophy that I really believe in and that I've seen time and time again, really, really makes a difference for investors. So that's all the stuff I have for you. Again, you can check out the links in the description down below to get your hands on a bunch of these resources, check out air DNA. And then also if you like this video, if you got value from it if it was helpful if you decide to use these tools, or if you just like me and want to support me, and you want to be a nice person, if you want to do a good deed for the day. Whatever your motivation is for it, I would very much appreciate that you just hit the like button on this video. It does help me out substantially as I'm growing this channel as we reach more people. Also, you might not be subscribed, maybe watching this video right now. Like I do time and time again. And I'm sitting there and I'm watching this person I go wow, I really liked their videos. I'm watching consistently and yet here I am not subscribed to that person. And I oftentimes forget about that I
often just don't take the time to look and see am I subscribed have I hit that subscribe button? Oh, I have not I should so if you're like me and you're doing that right now, just take a look. If this subscribe button has not yet been hit, then hit it. Now just subscribe to the channel I put out two new videos every single week I try to bring as much value to them as to you in them as possible. So make sure that you hit that subscribe button so you can stay up to date with the channel. And again just help me out if you want to just be a nice person hit Subscribe on that button there. And I will see you in the next video. Have a great rest your day.