All Forum Posts by: Tania Reuben

Would San Diego cashflow if you rented it out?

I hate to suggest this option in CA, but if the numbers work, it might be worth exploring putting a tenant in the townhouse, and getting a larger property with an ADU for less money in Temecula, then your family and mom move into the house?

So... at the moment after a conversation with our accountant, we're going to keep it as a personal rental.  
At the end of the day, it didn't sound like it was going to make a big difference either way.  
Given that's going to also be easier in our family.

We're planning to STR a cottage on our personal property.

My question is from a structure standpoint, can we rent the cottage through one of our corporations, or do we rent it personally.  

I know one other family that STR's on their personal property - and they have their Corp run the rentals.

Our accountant is saying that we don't run the STR through our corporation as the property is owned personally. Yet the only people I know doing this are running it though their corporations.

This is literally the last step before I can list the rental, as the permit for our county requires a Name or  Corporate Name on the form.

So I'm going to jump in and CLARIFY some of the information here... The City of Temecula has shut down ALL STR's.

The area around & outside of the actual city are governed by Riverside County. They do allow STR's and cover so much real estate (Palm Springs), I'd be very surprised if they were to ever outright ban STR's.

I'd proceed with Caution on Murrieta as they have also been talking about banning STR's as well.  

I'd also avoid any HOA's for the same reason, many of them are moving to restrict homeowners from STR's... I'd hate to have a client buy in an area with one plan and then be shut down because they are at the mercy of an entire committee.

Feel free to reach out if you want me to help dial in on the specific areas where you're able to AirBnB.

ALL of this points to a few issues, one is, WHEREVER you STR, put your own guidelines in and noise meters in place AND be a good neighbor.

So much of this could have been prevented had owners not allowed their rentals to be partypads that upset the community and moved PR against STR's in general. For a few $$ it's easy to monitor and enforce.

We're also seriously considering TN from CA.  

Keeping my eyes peeled for a Lakefront Investment property we could AirBnB and also use once we move.  

And looking for a large family home in Williamson or Sumner County.  

Current plan is to learn the market and if we can pick a deal that is a cosmetic fix that could rent as it, and then we could rehab to our taste when we are ready to make the move.  In the current market pricing, we would be looking to end up with a home that is similar to those on the market now for around a million...  

Would love to connect with those who might be on a similar path.

When he says lumber prices have increase... he's talking 2X4's going from 1.99 each to $5.32!  Crazy.  

How did the sale end up for you?

Also interesting in learning more about the vacation rental market at the Tennessee lakefront homes.

Did you end up selling Shaun?

There is a good amount, but not enough to meet demand...lower price points continue to move quickly and has seen steady price increases YOY.

Also worth noting, Rentals are in high demand, keeping pressure on entry level prices.

I'm guessing with costs, it's going to cost you money based on the current market... I haven't dug into your exact area, but I'm pretty close to you and we're up 1.9% from last year, and homes tend to sell a bit better in spring.  

Are there any value add improvements you could do between now and Feb, then list in Feb/March?  

That may at least get you out even?  If you need an expert in your area to consult on what improvements might add value, I'm happy to refer you, only a few years ago that was my daily market.