Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jacob Vanhorn

Jacob Vanhorn has started 1 posts and replied 7 times.

Post: New Investor, Just Purchased 1st STR in South Padre Island

Jacob Vanhorn
Posted
  • Rental Property Investor
  • Austin, TX
  • Posts 7
  • Votes 5
Quote from @Fran Pratt:

@Jacob Vanhorn thanks for answering I appreciate it. If you're amenable, I'll do a colleague request and hit you up later once I figure out what other questions I have :)

That is fine. 

Post: New Investor, Just Purchased 1st STR in South Padre Island

Jacob Vanhorn
Posted
  • Rental Property Investor
  • Austin, TX
  • Posts 7
  • Votes 5
Quote from @Fran Pratt:

Hi @Jacob Vanhorn
I'm considering a similar property in SPI, as we go there every year and love it. Curious how it's done for you in the year since you posted? returns? vacancy rate? TIA...


Hi Fran!!

We’ve had the normal hiccups so far with property managers and tenants, but it’s been a great investment so far. 

We’ve had over 90% occupancy since day one. We of course lower the price in the winter to draw the winter Texans down. It cash flowed about $18k in its first 7 months last year. 

Happy to answer questions via phone if needed. 

Post: New Investor, Just Purchased 1st STR in South Padre Island

Jacob Vanhorn
Posted
  • Rental Property Investor
  • Austin, TX
  • Posts 7
  • Votes 5
Quote from @Drew Sygit:

@Jacob Vanhorn

Everyone complains about how much PMCs charge and want to cut them out.

Maybe your roofing customers should do the same thing to you?


As stated, I’m starting with a PM and will assess how it goes. If the PM provides enough value managing the property than I will keep them. If they don’t, I may look at a different PM, or consider an alternative. As any business owner should do.

I’ve had a rental property in the distant past, and I’ve hosted short-term rentals. Both can be a lot of work to manage, and I prefer a turn key solution so I can focus on my work and family. But I will assess it.

I expect roofing clients to do the same. I can assure you that they also are looking for ways to save money. It’s my job to show them the value of their purchase. Just as it the Property Managers.

So I’m fine if my clients do the same. 

Post: New Investor, Just Purchased 1st STR in South Padre Island

Jacob Vanhorn
Posted
  • Rental Property Investor
  • Austin, TX
  • Posts 7
  • Votes 5
Quote from @Jake F.:
Quote from @Jacob Vanhorn:
Quote from @William Beck:

How big of a property is it? Condo? SFH? Been 16 years since I've been to South Padre. Fun place!


SFH, 4 bed, 3.5 bath, 2540 sq ft
Sleeps 16-18 (we haven't fully committed to the bedroom & sleeping layout)
Pool + Hot Tub
Back patio kitchen with sink, grill, hibachi grill, fridge, 2 TVs plus seating.
1/2 block from the beach

Come on down! :-)


I know the house you're buying. Looks very nice. About five blocks from where I live. 

The SPI PM guys seem like decent folks. But the 20-30% that STR management companies charge is just outrageous. Figure out how to do it remotely and keep that money for your next property.


I agree, that amount kills me. I plan to start off with PM and assess after this first season. I run a large roofing company in Central Texas and wouldn’t even be able to manage the booking request emails right now. But I’m here to learn, and will pick up what I can from this group. 

If you have contacts you’re willing to share, I’m willing to contact them. Thank you. 

Post: New Investor, Just Purchased 1st STR in South Padre Island

Jacob Vanhorn
Posted
  • Rental Property Investor
  • Austin, TX
  • Posts 7
  • Votes 5
Quote from @William Beck:

How big of a property is it? Condo? SFH? Been 16 years since I've been to South Padre. Fun place!


SFH, 4 bed, 3.5 bath, 2540 sq ft
Sleeps 16-18 (we haven't fully committed to the bedroom & sleeping layout)
Pool + Hot Tub
Back patio kitchen with sink, grill, hibachi grill, fridge, 2 TVs plus seating.
1/2 block from the beach

Come on down! :-)

Post: New Investor, Just Purchased 1st STR in South Padre Island

Jacob Vanhorn
Posted
  • Rental Property Investor
  • Austin, TX
  • Posts 7
  • Votes 5
Quote from @Jake F.:

Welcome to the neighborhood! It's been crazy down here as far as prices go. Texas Week is starting, so make sure you are screening your guests!


We don't close until April 4th, but we plan to use SPI Property Management to make this as turn key as possible, at least at the beginning as we learn the ropes. But we are looking at age 25+ to book. Happy to hear other counsel.

Post: New Investor, Just Purchased 1st STR in South Padre Island

Jacob Vanhorn
Posted
  • Rental Property Investor
  • Austin, TX
  • Posts 7
  • Votes 5

Just saying hello. I just pulled the trigger on a STR/vacation home in South Padre Island. We went in big for our first one, but are feeling good about it so far. We used the BP calculator to make sure it cash flows with conservative estimates. People have been going to South Padre for decades and we are betting on that not slowing down. I'll just be lurking and learning.