All Forum Posts by: William Brock

Glad to help @Maggie D., best of luck as well!

Well best of luck and keep us posted on how it all shakes out :)

So, looking at my airbnb numbers, (which is the only online service I use for the time being), I was booked 61% for 2019. I have talked to others in the area and it really is hit or miss, but good management and a professional listing really seems to make the difference. That being said, I seem to be doing better than most.

I had a couple large ticket items to fix last year that really ate into my profits, but I still ended up positive and with a great retreat from the city that pays for itself. This year our rents are higher than last year and we're booking like crazy, probably going to be closer to 70% occupancy, all due to 130+ reviews and sitting at 4.89/5 rating and a SuperHost badge (those things matter) as of 2 months ago, I have even more ratings now. But, I am expecting a much better year than last if I can keep the maintenance costs down. Last year was around only a 5% ROI after all the issues I went through. This year I'm hoping realistically for 20%+ ROI. It's been a learning process but worth it in the end. Ask me in a couple years and who knows how I'll feel lol.

Dealing with that many different people who are renting the property can be exhausting at times, but putting good systems in place really helps alleviate most extra work and stress. I can't stress enough that getting good systems in place is the key to success. After this year I should have a better grasp on how the property will probably perform going forward.

@Selena Walsh Nice! Thnx!

@Thomas Wurfel Thanks! Yeah I definitely moved quickly on getting this property and my first STR. I knew it was something I've been thinking about and as I started looking into it more and more it seemed like a good move for my REI plans. I'll definitely post more on it as it progresses.

UPDATE: I'm under contract on a home in Canyon Lake!! Once the wife and I saw the property, we knew we had to go take a look, and we're really glad we did. We put in an offer a week ago and the inspection just came back good with minimal items pointed out that we're requesting to be fixed. But overall, the house is in great condition! We love the view (the pictures don't do it justice) and the wrap around deck. Take a look and let me know what you think: https://www.har.com/1291-springwater/sale_SABORTX-1335953 

@Thomas Wurfel How are you liking San Antonio so far? I bet it's a big change from NY. Yeah so as you've read I'm interested in Canyon Lake. It's perfectly located between Austin and San Antonio. San Marcos, which isn't far from there at all, is home to Texas State University, as well as a recreational destination for the river tubing, which is a huge attraction. My wife and I and multiple other couples go every year, and we know people who float more often then that. Canyon Lake also has a much slower paced feel then some of the other lakes I looked at (Lake LBJ, Lake Travis), and is not nearly as built up and commercialized as those. There's nothing wrong with that though if that's what you're after, because there are some amazingly beautiful properties on those lakes, but you pay the tax premium for it too. Canyon Lake's taxes are really low in my opinion relative to other parts in central Texas.

@Seth Elliott Yep, what Thomas said is correct, STR is short for short-term rental. Same as vacation rental.

@John Underwood @Jeff Glass Thank you both for the great information!

I am in the process of buying a STR lakehouse and was wondering if the furnishing costs are tax deductible? I'm talking furniture, kitchenware, etc - everything I need to have in place to rent it out. I would expect yes but has anyone had experience with this?

Thanks,

Bill