All Forum Posts by: Luis Capriles

Great job on already making positive steps to grow your wealth! I agree you should start in your own backyard. There's going to be so many learning lessons in the beginning and it will be less stressful to be close by. Also, house-hacking is a great way to get started. My husband and I did that with our first property. We bought a 2 story and rented out the top floor on Airbnb. We had also considered renting it to a college kid, but we made more money via Aribnb. If you need any tips to do a short term rental, please don't hesitate to reach out.   

How did you do an FHA duplex/Airbnb strategy?  My understanding is that FHA loan rules do not permit rentals of living units in the home purchased with an FHA mortgage if those rentals are for less than 30 days. The Airbnb business model is not acceptable under FHA loan rules, which means that if you purchase with an FHA mortgage, Airbnb operations are a violation of the FHA loan rules

Thanks

"Welcome to Austin Timmy. Austin is a hot market but don't let that discourage you. There are some areas within 10 minutes of downtown and your office that sell for $250k SFR and $350k duplex. (78741, 78744, 78745,) I'm a big fan of the FHA duplex/Airbnb strategy. That's how my wife and I got started in 2011. We still own that duplex (and a few more) today.

The Airbnb returns are still solid in Austin. Occupancy is high year round. There's always something happening in Austin that drives folks to visit.  Regarding regulations......the city is still planning to eliminate all Type 2 (investor) licenses in 2022 which will drive some folks out of the market and cause others to go underground. Currently 70% of the Airbnb's operating in Austin are unlicensed since the city is no longer offering Type 2 licenses. 

However, I'm not aware of any plans to eliminate the Type 1 (owner occupied) licenses so that should be an advantage for those owners if/when the remaining Type 2 licenses are eliminated.  Personally, we plan to shift our properties more to 30+ day rental which does not require a license. 

I'm a residential broker focused on investors and could refer you to some lenders and contractors as well. "