All Forum Posts by: Kristy Farmer

Ryan Rabideau : Yes; I also have a friend selling her vacation rental and my boyfriend's mom fixing up a house to rent. I'm in the market for a vacation rental on the island. A couple of houses I've been interested in but I feel our market is overpriced and heated right now. There's good profit bc it's warm all year and we have events on weekends most of the off season. Based on comps and friends that have been doing rentals here you can pull $30 k or so profit yearly.

I live in Galveston and bought my house in 2012.  It's renewal policy time for me too.  I have pretty high deductibles on myself to save a bit on the island.  I have 1% deductible on my homeowners policy that I'm changing to 5% just right now to save some money up.  My windstorm (5%) and flood (3%) went up $200 per policy this year.  I don't know if this helps but a lot of increases have been in response to losses from storms, at least the mandated rates set by the government.  I don't have rental properties yet so I'm sure I'll be in the same boat as you soon!

@Stephanie Zader:   That sounds very exciting!  I love your presentation and being successful as a woman!  "Hear us roar!"  I am just getting started in this business.  I hope to learn as much as possible.  I will check you out on YoutTube.

@David Pena:  Title firms usually will hire extra help without a degree, at least I think so.  Any real estate agent starting out may hire you for legwork or open houses greeting.  My friend offered to pay me to be with her at open houses, especially because she was a female.  These are two options, but I guess it would depend on the person willing to take on a worker. 

Best of luck!

@Account Closed may say for advice since he's actively doing this.  I was wanting a vacation rental on the island, but I'm leaning more towards this concept right now.  At least to get started in investing.  It seems it's difficult to find a house that I could turn into a vacation rental on the island, at least in my target market area.  The current properties that are listed as duplexes are way over-priced because they have already been fixed up by landlords and are currently rented to UTMB students.  Other properties don't have the architectural feel that I would like in a vacation rental.  That I'm aware of, there are few rentals for A&M students (near my home and prospect properties) other than garage apartments on my end of town.  I am not sure anyone has cornered the market on this one yet and it could be a good niche locally!

Hello Everyone-

Does the bank consider vacation rental history (> year) as a source for income?  Any help would be appreciated!

This historical home has been used as a Vacation Rental for the last couple of years.  It can also be sold furnished! $174 k

If you have any questions that are not addressed on the website Jeanna (owner) is more than happy to answer them!  Please use the link below to access detailed info for the house.

Her phone number is listed on the site.  Just text her and she will respond as soon as possible.
 

@Alex Saleeby: There's quite a bit of good deals in that area.  I wasn't sure about Texas City because of the down turn in the oil field.  It' seems most of the houses have been gobbled up too.  I'll be patient and look for foreclosures, etc.

Belinda Lopez : wrote a book on the subject. She's in my area but I've not met her in person yet. Check her book out and maybe she has some tips. I forced myself out of shyness at a young age. I do understand how you feel. Find out how to improve social skills by taking a part time job at a social place or just hit up local REIN meetings. Networking is important but with technology you can be more behind the scenes! Best of luck!

Mike Ross : yes; actually I've been on a list for Round Rock with a wonderful Real Estate agent. I haven't found anything yet that I think would cash flow. I'll keep you in mind! Thanks so much!