First STR in Bryan/College Station TX - Tips?

[Grant Bynum]

Hello or HOWDY as the case may be here in Bryan College Station. I'm very new at investing. I was considering getting a 4 bedroom home for traditional 12 month housing. But the more I research, it seems that STR might be a better way to go. Bryan in particular seems like a better market for it. Does anyone else have experience in Bryan or College Station? What would you suggest to start out with? Any tips? Thanks in advance.

Grant

[Gregory Schwartz]

Hey Grant, 

STR are a strong move to increase cash flow. Naturally, the logistics of hosting guest is more involved as compared to the more passive long-term rentals. I believe strongly that STR can be a great tool in the a buy and hold investors' tool box.

CS - it can be difficult to operate in CS. They have local laws that prevent you from Airbnb'ing single-family homes unless they are your primary residence. And yes they do enforce these laws.

Bryan - Bryan has little to no regulations so really the only thing to watch out for are HOA rules and possible dead restrictions.

Some things to keep in mind with STR.

- furnishing costs add up quickly. I guestimate 7-9k for my 2-bedroom apartment and 10-12k for a 3 bedroom / 2 bath

- Hospitality taxes are likely your second biggest expense behind cleaning. In both CS and Bryan you'll owe 15% of your gross revenue to Uncle Sam. 

My last tip: For quick analysis of potential income, I like to use Rabbu.com

Good luck!