All Forum Posts by: Andrew Neal

So I am wondering how much on average it costs STR investors in fees to take bookings through the major STR sites like Airbnb and VRBO?

I ask because I recently saw an ad for a company who helps STR investors make their own website. But my thought is, what good is a website (that you have to manage yourself) if no one knows it exists let alone it doesn't drive any bookings.

I work in marketing so I always go to results and work backwards and unless this service is helping you get bookings then seems like a waste.

Does anyone have a separate site for their STR and find it beneficial?

@Dennis M. Where are you finding duplexes for 30k haha

@Chris Seveney yeah a little. I’m interested in hearing a wide range of strategies. I probably want to be fairly passive at least initially and maybe after a few years become more involved.

Curious on people’s strategies on what to do with about $30k a year in disposable income to set yourself up to have a nice retirement.

Most jobs don’t offer very attractive savings plans or pensions anymore.

@Andrew Lee yeah we had an offer at full ask within a few days but it fell through but I’m confident it will sell for what we need it to.

Best of luck to you!

@Jay Hinrichs technically it is still Bay Area haha. We are a LONG way from Tracy and the rest of central valley and unlike most of the surrounding area we actually have good schools. To me it's the only place worth living if you don't have a million + to buy along the 680 corridor. 

For the record the home is listed and getting a lot of interest. I will most likely sell so long as the price is fair. I'm not going to take a $20K loss to avoid floating a few hundred a month for a few years. I'm not one to play appreciation game.

@Caleb Heimsoth yeah property taxes here are insane (funny how everyone wants to complain about California). It's always a difficult decision on a primary residence especially with two young children and a wife. We won't be making the permanent move until July/August so I have some time to decide. And we will not be upgrading our lifestyle whatsoever just because we are moving to a lower cost of living state because the idea is to start purchasing 1-2 properties as actual investments now that we won't be stuck in California.

So I have recently taken a job in Dallas Texas and was planning to sell my home in the east Bay Area. This job change and move was unexpected and we have only been in our home for about 9 months. It was not purchased with the intent of being a rental.

It will not cash flow and would probably be about $300 negative each month. I know tons of people will say just sell it while others will say "It's California real estate so just hang onto it".

I'm interested to hear people's opinions as to why they would or would not sell it.

*I can afford the monthly loss monetarily without it putting a major hindrance on my finances. I have considered renting it for now and just reevaluating the market each year to decide if we should keep it or not. The home is in good shape in a very desirable part of town.

@Britney Burks I’d advise contacting a local lender. I think it has more to do with whether or not you can also sell to someone who intends to use an fha loan? Not sure though.

@Jose Trujilloyou shouldn't need to have a downpayment. They will just allow you to cash out up to X% of your Loan To Value, typically 70-80%. So if you have a property worth $100K and you owe $50K, they will allow you to pull out 20-30K depending on the above mentioned LTV requirement.

There are usually some fees included that you would need to pay as well.

*FYI I am not a lender

So many great responses! @Lucia Rushton good advice, the current plan is I will be staying in Wylie with my brother in-law and sister in-law when I'm in town as I will be flying back almost every weekend until the baby arrive in April. While there I plan to scope out areas. Then after the baby is born I'll be in California for a month then in June will have about a month or so to get serious about finding us a rental so that when my wife and sons make the trip we already have a place secured. Also, my oldest son will be 2 next month so we are still a ways out from school age and my wife stays home. And yes we are Christian so finding a church will be another priority.

@Matt C. It's funny you mention the lot sizes because being from California and that I used to work for a new home builder out here I have literally said the same exact thing to my wife on our most recent visit in November. I was like "these lot sizes and subdivisions are looking more and more like California". I will certainly need to check out the Melissa area as man have mentioned it now. Also the fact that I don't need to go into the metroplex for work is a HUGE bonus.

Thanks @Michael T. yes we have seen some astronomical appreciation here, Our first home appreciated about 100K in 2 years without touching a thing except painting the exterior, I don't expect that appreciation in Texas. We feel blessed to be able to be in North Dallas because as I told someone here who asked "I could through a dart and hit a great school district and nice homes for under 300k".