SaaS Interviews with CEOs, Startups, Founders
24 Year Old Invests $340k of His Own Savings to Launch new AirBNB Data Tool
30 Dec 2022
Chapter 1: What is STR Brain and how does it help short-term rental investors?
The easiest way to do that is to go to getlatka.com and use our filtering tool. It's like a big Excel sheet for all of these podcast interviews. Check it out right now at getlatka.com. The STR brain helps you understand when you want to buy a short-term rental, what you can pay for it, what the returns could look like.
He's put in $340,000 of his own money into this business, spent $160,000 so far building the MVP.
Chapter 2: How much personal investment did the guest make in STR Brain?
He now has 12 customers doing about $2,000 a month in revenue, just getting going. He's bootstrapped it, team of three, him and his partner, and then a developer they've got out there in Italy, building, building, building, hoping to ramp up here to go from 12 customers to 2,000 with paid ads and some other tactics. We'll see what happens. Hey folks, my guest today is Notram Robin.
He is building STR Brain, stands for short-term rental brain, where you can gain access to underwriting with real-time data nationwide, no subscription needed.
Chapter 3: What is the revenue model for STR Brain and how does it work?
They help you become a better short-term rental investor. Notram, you ready to take us to the top? Absolutely. All right. So real quick, if people want to buy a short-term rental and put it on Airbnb, they'll use you to find it or they use you after they purchase to manage the short-term rental?
Chapter 4: What challenges did the guest face while building STR Brain?
That's a great question. So that's twofold. It's twofold. Either you could buy a property and then see how much is the going rate in the area. But really, we like to focus on if you're looking to buy a property or basically a Zillow.
Chapter 5: How does STR Brain differ from competitors like AirDNA?
and a short-term underwriting platform. So you know that you want to buy a house for short-term rentals right near your house. You want to see how much it's going to make prior to you buying it. You're going to go onto the site. We're going to run you an underwriting in literally 10 seconds.
Chapter 6: What marketing strategies are being implemented to grow the customer base?
And you'll have that to share with your friends, family, coworkers, investors, et cetera.
So I find something on your site and it's a house that's going to cost me 500K right next to where I live. And I click a button that says purchase this. And you say, wait, do you want to see what your mortgage could look like? And I can say yes.
Chapter 7: How does the guest's background in real estate influence the business?
And then you're going to show me like amortization table immediately.
Similar to that, you can go onto our website, find the house right next to you for 500 grand. That's for sale for 500 grand. You can see all the property details for free. then there is a purchase button.
Chapter 8: What future plans does the guest have for STR Brain?
What's going to happen when you press that purchase button? It's going to unlock your income, your projected income expenses, average daily rental, and all the expenses incurred with running an Airbnb. Many people think that Airbnb is just buy a house, slap it up, and that's it. There's fees, there's costs, there's furniture costs, and it really all boils down to...
cash on cash or cap rate basis. So we'll give you all that in one spot. And if you want to make edits yourself, we give you that opportunity as well.
So what I just put in my address, so I guess a couple a couple things here. One, is it free for people to sign up? Or is your main revenue stream investors paying you a fee to access the data?
So we have a subscription model, but I like to tell, let's say, people like yourself that if you could go on a one-time basis, not a city basis, not nationwide. So if you see a house right next to you, you're able to go there and just buy that. It's $10 one time, and that's it. And you'll have it in your account forever. But it is free to sign up.
Okay. But how do you view the business? Are you just going to try and get as many one-time $10 sales as possible? Or do you want to try and keep people subscribing for X dollars a month every month to access everything?
So we have a lot of subscribers at the moment. We do have subscribers. We also really like... That's really the end goal and the model.
What do they pay per month on average?
They pay on average about $250 a month. Okay.
And what do they get for that?
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