All Forum Posts by: Jessie Wells

@Andrew McIntyre 

THANK YOU! This is great! Currently crunching numbers! 

Also, @Aaron Gordy, I attached a few pics to give you an idea of our space... We're hoping to catch some of the business travelers who might be working in the domain/etc. 

Hi @Aaron Gordy

Wonderful to meet you!

The location is my concern. We are in Great Hills off of 360 and can walk to the arboretum. It’s 12 minutes to downtown without traffic but when is there not traffic in Austin???? Our place really looks nice and we can make it very comfortable/high end for guests. I’d assume that for guests okay with the location it would be very appealing. I’d love your thoughts on our location. Perhaps it’s just something we’d have to take a risk, or not, on but I’d prefer to make our decision as calculated as possible!

In terms of the city policies, we would be considered a Type 1 rental and should not have problems with the permitting. Passive is attractive at this point but it would also be nice to make more cash over the next year or two so that we can pay off the finish out we just completed. Thank you for your input!

Hi @Andrew McConnell

Thanks for the idea! That might be something we’d eventually move to but the space is our basement… It just seems easier to do it ourselves at the beginning because the primary reason we’d go that route is to generate cash. Perhaps we’d move to that option in the future though. Thanks for the thoughts!

 Hi @Kristina Modares! 

Did you find out more information on this? I'm currently trying to decide on the short term or long term rental route for our basement in North Austin. It's walking distance to the Arboretum and I can't tell what supply/demand would be up there. From the current Airbnb hosts in Austin I'm concerned that the supply side is inflated which would limit revenue. I'd love to hear what you learned, what your experience was if you tried it, and what your thoughts are about someone as far out as we are. Thanks in advance! 

@Gabe K.

I know your post was 4 months ago but would love more information! We are a bit outside of downtown Austin and it’s hard to tell what the demand will be. Our place looks awesome and will be very comfortable for high end guests. If demand is there I think we can generate higher volume than the average Airbnb around us but I can't find numbers. Is the Airdna cost worth it to get their paid for data? Trying to save costs until we know what revenue will be. Thanks in advance! 

Hi @Andrew McIntyre! Great question! I don't have a good answer for you but would love to hear what others say about this! I'm learning more about multifamily too! Best of luck to you! 

Hello! My husband and I just finished out a basement efficiency apartment in our north Austin home. It has a private entrance, full bath, and a full kitchen with a tiny home/industrial concept. We had planned to rent it as a short-term vacation rental but have a current long-term renter who is interested in a 1 year lease. 

I'm curious if there is anyone with short-term rental experience in Austin. It's a very popular strategy in the area and we'd like to know what supply/demand looks like in the market. If we go the short term rental route, how can we run the numbers to predict revenue? 

It's tempting to go the long-term route because (a) it's guaranteed income (b) the income is more passive (c) lower start-up costs and (d) we like the renters. On the other hand, the short-term route is appealing because (a) appears to be greater income potential (b)  gives us more flexibility with the space (c) the hospitality industry is intriguing. 

Thanks in advance for your insight!