All Forum Posts by: CP Chou

Downtown Austin Texas in the middle of all the action. This condo features an HOA that explicitly allows STR (short term rentals). Proven comparable gross rents put this property in the 9-12 cap rate range. More upside possible as it needs to convert from a LTR (long term rental) presentation to more of an Airbnb/Homeaway look to attract guests. Value add is there! Expect high annual occupancy (80-90%+) with major events such as SXSW, ACL, F1, festivals galore and endless conferences at the Austin Convention Center walkable up the street.

This unit is a 2 bedroom 1 bath loft setup with the master downstairs and the loft bedroom up the spiral staircase. The complex also features a pool and a reserved parking spot. 

Short term rental licensing (Type 3) is the responsibility of the buyer. Please visit City of Austin's website on procedures:

https://www.austintexas.gov/str

Currently off market and seller ask is firm. Current LTR tenant lease expires in March 2018. The condo is non-warrantable (non-Fannie/Freddie) and financing will need a lender with a program for it (can provide recommendations).

STR = short term rental which tends to mean an SFR. These are for earning gross rents via Airbnb, Homeaway, etc.

Hello San Antonio,

I'm looking for a very "in the know" agent who knows the Airbnb scene in San Antonio and can help me learn any local regulations and buy legal, code/bylaw compliant STRs in the SATX area. I have this knowledge in Austin for these topics and would like to see what is available over there.

For the record, the Rockets are my #1 team and the Spurs are #2. The Mavs are like #39.

Howdy Houston folks!

I actually grew up in Houston but I'm an investor/agent here in Austin these days. I'm looking for a very "in the know" agent in Houston who can help me learn local regulations and buy legal, code/bylaw compliant STRs in the Central Houston area. I have this knowledge in Austin for these topics and would like to see what is available in H-Town.

@Eric James I would triangulate your STR performance with your eyeballing on the main platforms like you've done, get a few reports from airdna for (near) actuals on gross rents, ADR and occupancy.

For more occupancy data, you can call up some vacation rental companies and see what they say is "average" occupancy over the year and probably round down to be conservative. For contrast, Galveston is ~40-50% "average" occupancy.

Wanted to check in on opinions on how rebuild and what life will be like in the near-future. Saw the headlines last week about stated goals from Port A: 

https://www.bizjournals.com/sanantonio/news/2017/1...

Definitely hope the best for all the owners out there.

@Account Closed what is the general legal cost of having an attorney write up a very general wrap? obviously differs market to market...but a range would be helpful.