All Forum Posts by: Travis Washington

Hi all,

What is a good estimate furnishing costs for a 3bd/3ba 1800 sq ft STR/MTR?
I’m budgeting about $1,500 per room, so $8,000-$8,500 to include the LR, DR, kitchen, and outdoor space. Is that a good estimate?

Interested to hear and gather datapoints from others. 

Thanks!

What is the minimum COC% return you all need to pursue a property as a viable STR investment?

Anybody have experience using Brian Page’s BnB Formula program and can provide their review of it? This is for the $10K scholarship program. Is it worth it? Did you find it valuable? What was the best and worst thing about the program? What were your results?

I’ve found a few discussions from years ago on the program and looking for more recent feedback. Thanks!

Thanks, Sarah. DM’d.

Wow, Dallas banned them on SFHs? That’s news to me. Good to know. 

Interested to hear insights of those currently doing this in these three cities. Have you had any issues with the city regulations regarding STRs using this method? I know Austin is a bit stringent with there regulations.  

 My guy.✊🏽

90% rents minus PITI is more realistic in this situation. Using 75% is way too conservative given the dynamics of the Austin renter marker (had 8 showings and 5 applications in first 48 hours), location of the property in a sought after neighborhood, minimal maintenance issues due to newness, and being self-managed. At 90%, that's still $3,300 of cushion per year for uncertainties which is more than sufficient. 75% would put it at $8,250 of cushion per year which is too high IMO.

And the other point above, a positive cash flow in general in Austin is a rarity.

 Hit it on the head. It is pretty much impossible to find a cash flowing property here. So to have both I see as a premium to me. 

I'm also thinking I could still utilize a HELOC to still tap into the equity and leverage it for other properties.

And although you no longer have those properties, I’m sure you were able to lever them up to other properties well!

Hey BP fam,

I’ll try to keep this short and simple. Have a primary home moving out of and analyzing whether to sell or rent. Stats:

-PITI: $1950

-Rent: $2750

-Current Loan Amount: $300K

-Current Value: $475K -$500K

Other factors:

-Interest rate: 2.75%

-House was built in 2018 so maintenance and repair should be minimal

-Current housing inventory in our market: 0.2 months

-There is a housing shortage going on right now that doesn’t show any signs of slowing down. Selling or renting are both too easy.

-Moving into another property in town to house hack (that we’re already up $40K in equity on and have a great rate of 3.375%) so we’ll be in the area to self-manage.

What would you do? Interested to hear what fellow investors here think about the situation.