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Updated 6 months ago on . Most recent reply

What to do with my (STR) Cabin outside of Houston
I have a "Cabin" just an hour outside of Houston, beautiful property, secluded on 14 wooded acres. Amenities include a pool, spa, big covered deck, fishing pond, hiking trails. It's been my family's weekend home for the last 9 years. Last year we decked it out and decided to try putting it on Airbnb and VRBO. Our reviews are stellar 5 star, our guests absolutely love it. BUT my wife and I are having a tough time keeping up with it. It has become a second job for both of us. We live in Houston, and although it's only an hour away, we spend a fair amount of time gong out to the property to manage it. The purpose for setting it up as a STR was simply to help defray the cost of owning and maintaining the property, but again we feel that the time we put into it is taking away from our quality of life with our family/kids.
We're looking for advice on what to do with the property. We don't want to sell it just yet. If we do a long term rental lease we're worried the place will get destroyed by renters. Should we look for a property manager, but then again that would be costly. Should we look into Arbitrage? Not exactly sure how something like that would work. Any thoughts?
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- Olympia, WA
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Hey @James Burciaga, what is costing you time? Why are you driving out there all the time?
You should have a cleaner and handy person ready to go. The cleaner should be handling all the cleaning and looking over the property.
Give us some more details on what you are spending time on and we can help.
No way I would arbitrage that property. The PM will simply take any profit away.