48. How to Determine if You Will Do Well in a NEW Market

It can be nerve wracking investing in a new market. Will a short-term rental do well there? What happens if it doesn't stay booked? Is there too much competition? These are often questions that race through our minds and keep a lot of people from investing in the first place. Luckily information is readily available to help us determine the potential occupancy, potential average daily rate to charge, seasonality and potential revenue of a market among other things BEFORE we invest there. Tune in this week as Tim discusses:  Software tools to forecast demand The metrics; potential occupancy, average daily rate to charge, seasonality, regulations Going directly to the sources (Airbnb)  Staying in the new market! Your ultimate back up plan  To get a report on your potential market and 30% OFF check out Airdna (please note I am an affiliate but this is the same company I use to research markets) For European listeners Transparent will have more data  Mashvisor will give you info on short and long term rentals For more info on finding the best properties get our free guide and more at www.restmethods.com  If you want to learn more about Tim's journey, email us at [email protected] for a  free copy of the Amazon Best Selling book Tim co-authored: "Resilience, Turning Your Setback Into a Comeback." Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.