All Forum Posts by: Conner Olsen

 Thanks for sharing Conner. Do you find being pet friendly increases your occupancy OR deters guests away who don't want to deal with past pets?

 I was searching for 30 day rentals, and this old thread popped up.  Since it's in Austin where I am located I am thinking of giving it a bounce.  I am looking at buying a distressed 1/1 coondo and turning it into a 30 day rental, and am about to write my proposal.  I also am about to remodel my Father's home on Lake Belton near Temple, Tx.

The reason I have become interested in 30 day rentals is my house flooded badly during covid and the insurance company was paying $6200 a month for a barely furnished two bed apartment.  Regular rental rates would have been more like $2300.  Now this was also post freeze, so shorter term housing was at a premium.  But it got me thinking.

My Father's house flooded while I was trying to rehab him in Austin, and then his house got hit by edge of tornado, so there is a little over $50K in Insurance money. I completely remodeled my own home after the flooding (28K gallons into house). And it's not rocket science to sheetrock, floor and then re-trim.  I also bought a foreclosure and did a complete remodel also by myself, so I am familiar with the pitfalls of remodeling.  I am proposing to use the money to completely remodel. Hardwoods up and down, new 5 panel doors, and square farm style trim, granite, updated throughout.  I want to use my expertise for my father and stretch the dollars to make additional changes like new front door, adding metal awning, and generally improve the street appeal.  Basically it will look like a new build when I am done, so if my 30 day experiment fails we can sell the property next Spring. Or rent for less long term.

IF I can make this Lake Front property a successful 30 day furnished rental, it will allow help pay for my parents care in assisted living, and reduce the draw down on their savings (and preserve my inheritance).  The remodel on the 1/1 condo will also be top notch and I am willing to furnish it as well to try the 30 day market.  Heck I would turn my house into a 30 day rental and rehab a new place if I can make this work.

Anyhow seeing if this bump is the way to get info or if I should just start my own post.

Can we stop renting our house hacked property after one year if we want it wholly for personal use?

I'm curious to what everyone thinks.  Is there one area that is typically viewed as the best option for house hacking?  Are there a couple markets?

I know the consensus is "The best market is the one you're already in"  but I'm just curious.

If you could start over anywhere with a decent chunk of money and a solid house hacking strategy, where would you choose?

Not sure. Hoping to find out how others do it. 

I did a search and don't see much discussion about this.  Do people put exercise equipment like treadmill or stationary bike in their mid term rentals? Or is the liability concern too great?   In the house that I hope to rent out to mid-term travelers there is a treadmill and I am thinking whether to keep it there.  It seems like people who stays for several months would be interested in a hassle free to exercise.  For liability issues I feel like people can injury themselves in a number of ways like take a tumble down the stairs or burn their hand on stovetop so a simple treadmill doesn't seem too dangerous to me? 

Hello! 

I have a home that I bought for 600K+ about 38K closing costs, interest 2.875%, I've owned it 3 years and owe 220K on it. It's in Austin, whose market is getting flooded with new homes right now. It's not in a super prime area, but it's in a nice suburb 15 min from downtown/all the good stuff. I could rent it out for $3,500 unfurnished. Utilities are costing me around 450/mo plus another 400/mo for pool and garden maintenance. Should I keep it or rent it out unfurnished (w/ management I will cut even or loose like $100 per month cash flow)? 

Thanks for your input.

I recently purchased a new home with the lady and am hoping to turn my previous townhouse into a rental. I've posted to Zillow, FB Marketplace, and Avail (and therefore its syndicate sites) and have had lots of views and saves on the Zillow statistics, but only one inquiry/tour requested. It's a higher priced rent but very desired location, updated, and compares favorably to others listed in the area --- and still priced competitively. However, I cannot afford to go 2 months with vacancy. Mortgage is $3k / mo so it should be able to cash flow well once inhabited. 

Would love advice from those with experience on how/where to better market my home to get quality tenants in place quickly. 

Here is the listing - https://www.zillow.com/homedetails/2312-Thornton-Rd-A-Austin...

Thanks in advance for your opinions and words of wisdom!