All Forum Posts by: Aaron Bihl

Oscar, 

That sounds like a solid plan, let me know if I can help! 

@Daniel Wittekind I think rick makes some valid points.  If you decide to keep it as a rental I may be worth looking into a little more creative solution.  Short term rental, furnish and rent by the room, corporate rental.  There are some options that could probably create some cashflow there while holding it for the appreciation. 

Ayanna, 

Welcome to BP, if you decide on San Antonio or want to explore that option more feel free to reach out. I regularly work with out of state investors.

Kathryn, 

I’m a realtor in the area and work for a small brokerage that focuses on investors. Let me know if I can help.

@Eli Poesnecker  this is awesome man!  I love seeing people finding creative ways to make deals work!  Keep up the good work!

@Account Closed The Alamo REIA meeting yesterday and there was some good information on short term rentals. I'm going to DM you with more info that I think may help you out.

Hey @Account Closed ,

I'm an airbnb owner/operator in SA and my concerns wouldn't be with the property being well taken care of, because if they are running a decent airbnb it would have to be well kept and maintained.  

My concerns would be:

1. the tenants weren't straightforward with you and appear to be rather deceptive in their practices.  

2. The city passed an ordinance in november that requires paying Hotel Occupancy Tax (11.5% (I think its 11.5 if its both in the city and bexar county) of gross rental income which is pretty significant. They also I believe are able to fine up to $500 a day for improper use (i.e., no STR permit, not paying taxes, etc)

Here is more info on the ordinance, and they also have a pdf with all the owners and locations uploaded on the site now.  https://www.sanantonio.gov/DSD/Resources/Codes#176642678-short-term-rentals

Hey Lisa,

Welcome to BP.  I’m not a good resource on the larger groups, largely because I’m too cheap to check them out. 

There are several smaller shops meetups that I go to and enjoy.  We at Somos have one, @Rick Pozos  has one, and I believe there is a multi family one and probably others I am missing. 

Also, there are a few Facebook groups for short term rental owners and I’ve found those groups to Ben pretty helpful. 

Jake, 

One thing you’ll notice is there is a lot to variation in the property taxes around San Antonio, from low 2% to almost 3% in some areas.  If property taxes are a concern you could target an area with that’s on the lower end. 

Also, I think the price range you listed is difficult for rentals.  3/2’s do well and go somewhat fast but once you get above 1500ish a month it seems like a difficult range.  I’ve even seen 300-400k houses listed for 2000-2500 and sit on the market. 

@Curtis Curley  If you currently own a home I'd make the first priority to turn that into an asset.  I.e. buy another house to live in and rent it.