STR in Escondido

[Raj Vegulla]

Hey Bigger Pockets community!

I hope this post finds you all in good health and high spirits. I've been contemplating a significant life change and wanted to reach out to this knowledgeable community for advice and guidance.

Here's the situation: I currently reside in Escondido, California, and own a primary residence that I'm considering converting into an Airbnb or short-term rental (STR) property. Alongside this, I'm contemplating a move to Texas. I understand that this is a big decision, and I'm seeking insights from experienced real estate investors and professionals who have ventured into the world of short-term rentals or have made similar moves.

While Escondido has its charms, I'm drawn to the potential financial benefits and the lifestyle opportunities that come with running an Airbnb/STR. With its proximity to popular tourist destinations and attractions, I believe my property could be an excellent candidate for vacation rentals. However, before taking the plunge, I want to ensure I've explored all aspects and considered potential challenges.

I'm particularly interested in hearing from individuals who have converted their property into an Airbnb/STR. What were your experiences with local regulations, managing the property remotely, and maximizing rental income? How did you navigate any potential issues with neighbors or homeowners' associations? Any tips, pitfalls to avoid, or best practices would be highly appreciated.

Additionally, I'd love to hear from those who have made a similar move from California to Texas.  How did you navigate the logistics of moving while managing your investment property from a distance? Did you encounter any unexpected challenges or opportunities during this transition?

I believe that learning from the experiences of others is an invaluable asset when considering significant changes like this.

Thank you in advance for your time and willingness to share your insights. The Bigger Pockets community has always been a fantastic resource, and I'm excited to hear from you all!

Warm regards,

Raj

[Michael Baum]

@Keith Mintz, I am telling you right now that if you rely on AirBNB Aircover for those sorts of things, you are going to regret it. The info they list is one thing, actually getting it paid for is another.

Aircover isn't accepted by any mortgage company as insurance for a home rented short term. You can't list Aircover as property insurance.

Getting AirBNB to cover a 100k loss will be impossible. It is entirely subjective. We are not talking about a broken window here. If there is major damage, you can forget getting any money back.

I am talking to every person who reads this - AIRCOVER IS NOT PROPERTY INSURANCE. You will need a correct STR policy from a insurance provider.