All Forum Posts by: Conner Olsen

This area is known for getting tornadoes. The recent one is not an anomaly for this part of Round Rock. Assumable loan is a marketing strategy, the initial balance on the FHA loan was $230,743. Now it is probably somewhere in the low 200's. Unless you plan to bring $150k to closing I wouldn't assume this loan.

New construction, and MTR are what my clients are getting to work.

 Find what the rent/price ratio that will hit your investing goals for a market and use that as a metric.

I don’t know any 90 day rule, and I don’t know laws of NC. What most new hosts are afraid of is having a guest overstay and then you can’t get them out. If there is a lease signed you can start the eviction process, which is why most people recommend you get one. Everyday someone overstays your airbnb they are charged 50% more than your nightly rate. So $100/night, everyday they stay over they are charged $150/night. What I’ve found is the guest who is paying $3,500/month has no intention of overstaying. They have a set amount of days they need the place and don’t want to pay for more. Very different demographic than low class tenants paying $1,000/month and worrying about them overstaying.

 I don’t have them sign leases. Airbnb handles all payments. The guests paying for MTR rates are A+ and a lease isn’t needed from my experience.

 I personally use Pricelabs Market Dashboard. You get all the Airbnb listings in your area, filter by 30+ days and analyze the comps to see what's closest.

I find comps on Airbnb and see what the MTR market is like there. That's a great baseline that can be reliable in my experience. From there you can target businesses and get the corporate contracts.

 Personally I don't allow people to tour while it's occupied. One way to avoid this in the future is to take a detailed video walkthrough of the house (5-7 minutes) and talk about the property, open cabinets and drawers. Upload it to Youtube and send the link when anyone asks to see it.

Hey Bob, that's awesome you want to get into the STR community in Austin! Some things you should know about with STRs in Austin:

1. Hotel taxes are 6% in the state of Texas and 11% in the city of Austin

2. There are tons of cleaners in the area and I have a few I could recommend. Typical charges are $150-$250 for a 3 bed 2 bath turn.

3. Utilities are typically $350-450/month for a 3/2.

If you have any more questions feel free to reach out!

 Nope, I've been happy with the service