All Forum Posts by: Christina Johnson

I would be happy to he Kim. I manage STR and have sold on the island for 15 years. It depends on the location to be honest.

Awesome. I apologize about the delay. I have been under the weather. Let us know if you need anything 

I know all the local contractors. My husband would be be happy to assist you with finding help. I am also a local Realtor. I am also a BOI. 

It really depends on the property to determine if you will make it through this changing market, We have too many short term rentals in town. I have seen the market become saturated and I am getting a ton of calls to ask about listing. Some are turning into one year rentals bc they bought something they cannot afford when it comes down to all the expenses involved.

I would be happy to share more of my views and projections. I have done this for 15 years unlike most that just jumped onto the expert wagon when it comes to selling STRs on the island. 

If you need the latest let me know. I am friends with the city manager and his info  accurate. What did you need to know?  We are banned until the 30th with possible 3k fee. We will know if that’s extended this week.

We are losing rental income very fast. People are cancelling weddings at the Galvez, Ironman, etc. Trump announced today that this may well not be something we get our arms around until July, at best. 

Most of my rentals are full this week still. Many of my cancellations are for May and June. 

I think now would be a great time to buy a short term rental. Several of my investors have contacted me to represent them here on the island as they know some will not have the patience to last through this economic downturn. 

If your making less then $500 a month you need to change your business plan, which was my point when saying that. Nobody I know pays quarterly because they use the right people, make the right plan, and execute. That’s why that statement truly reflects more monthly. 

Hot tax is not typically due quarterl. It is due monthly if you have over a certain amount of income and very few qualify for that if you know what your doing.

HOA's at almost every condo complex welcome STR's as well. I have been selling them and managing them here on the island, as a BOI Realtor for almost 15 years. If your smart you will only buy in certain places here now because The bubble is about to burst, our own residents have to seek their primary residence off the island because they cannot afford to live her now. Realtors with no knowledge of how to list or sell them are trying to work in the area and hurting the market.

Sorry if I got on a soap box and a little off topic.
 

We also have a list of great lenders that work with the non-warrantable properties like Victorian, Maravilla, By the Sea etc. 

25 percent down is required by all. 

Congrats again on your investment. 

We do a lot of work at the Victorian. It’s a great property as it’s no longer a Condotell. Most could not get a loan here for a very long time so our buyers really would not understand invest until the last year or so unless it was a cash purchase. 

We love the new management and the complex is great. We just closed a deal from a bigger pockets buyer end of last year. 

Prices will go up at the complex but a lot of the units need updating. My husband does a lot of work their also.

I hope your investment works out well for you.

I am seeing a decline in rental rates for non-resort properties. Every piece of property in Galveston is becoming a STR so our residents have no affordbale housing.