Connect with Investors in Galveston

[Ashley Tocco]

Hi, I am looking to connect with investors in Galveston - I am in escrow on my first STR and am looking at another. Looking for advice on purchasing a second house before my first house has even closes. The first house is already an STR and the numbers are solid. The second house was an STR in 2021 and the rental history speaks for itself and has a lot of room for improvement. Based on the numbers, I would be looking at a caprate of 16.2%, 48% year 1 cash on cash return, and DCR of 2.27.

We have the cash for the down payment but is it too risky for someone so new and green to purchase 2 at the same time? 

Thank you in advance - any advice is appreciated!