Doubling my rent in Austin, TX

[Conner Olsen]

I was frustrated when buying my house hack last year because I couldn't find a property that would cashflow in Austin, TX. The market had appreciated rapidly and the rents weren't catching up. I decided to look into STR and found that there are strict laws in Austin and it is difficult to get a license. I did find that everything rented over 30 days is considered a long-term rental and is not subject to the STR laws. So I decided to analyze Airbnb properties that are furnished and rented for 30 days or more. It turns out there is a large market for these types of properties! Fast-forward a year since purchasing and I have increased my LTR by double just by furnishing the unit and listing it on Airbnb!

LTR - $1,200/month

Airbnb monthly rent - $2,650/month

My mortgage is $2,150 so I'm also living for free in my own unit!