Data-driven decision making is a practice in many commercial industries now. But especially the real estate industry is using data. Companies like Zillow or Redfin provide estimates of a given house in a given neighborhood for renters and buyers alike using historical data.
But, there is a third option besides ‘selling’ or ‘subletting’ a house. You could rent it out via Airbnb. There’s no tool that predicts your income from this third option. Let’s build one. Students of my class at Cornell University created a small neat tool to help you with that decision. Real Estate Advisor lets you enter the address of your spare property (in L.A. only for now) that helps you evaluate the two options on hand – AirBnB and Sell.
Author: Lutz Finger