Upfront costs to factor in when saving for an STR

[Jacob Munson]

Hey everyone, been doing a lot of research and educating myself on best practices to running an STR successfully. Primarily interested in long distance markets due to prices in my area (San Diego/California).

At a stage where I am evaluating my savings versus the upfront costs to get into a STR property. Obviously aware of the major costs to consider (down payment, insurance, closing costs, etc) but was looking for help on other costs to include during that evaluation.

Rehab costs will be specific to each property but just wanted to make sure there wasn't anything major I was missing!  Thanks in advance

Jacob

[Alex F.]

@Jacob Munson Make sure you include costs to furnish the place, kitchen stuff, linens, supplies, nice looking decorations etc

I'd be curious what others have spent but my guess for a 3 bedroom house with a pool is between 30-40K from bare house to ready to rent. Perhaps a bit more??