I have a property in Oregon that I’m debating on selling. I’d make a little less than $100k tax free. Or I’m thinking about turning it into a STR. Any advice or suggestions? Thanks for the help!

Account Closed yes you’re right! Rogue River is here and people have STR similar to my house going for $115-$125 a night. The 6% would definitely take a chunk but I’ve lived in the house for the last 3yrs so there wouldn’t be any capital gains tax. Thanks for the advice Mike!

Isn't the Rogue River around there somewhere with rafting, fishing & boating? Isn't GP on the way to the Redwoods? Plenty of traffic down I5. The Lodge at Riverside is getting $132 a night and Riverside Inn is getting $140. So, if you make your place nice and get $100 a night for 65% occupancy that's $1,950 a month. More if you can increase occupancy or rates. I'd for sure give STR a try first. Keep in mind that when you sell a property, especially an investment property, cost of sales is steep. 6% of sale to re agent, 25% of profit to IRS, closing costs and the time between getting your money and finding a new investment is wasted energy.

@Adrian Lopez I purchased a furnished condo in Medford a few years ago and ran it on AIRBNB for about 9 months. It had easy access to i5 and overall performed slightly better than a rental. I don't think of GP as a high demand destination, so i'd recommend getting some STR consulting on your location, ideal guest and occupancy estimates for the full year. ....I don't track the GP market very closely these days, but what I hear from family is inventory is low and the fires have not helped. This is driving up prices and rents...I only see 6 rental available on zillow in GP. If you sell, are you seeing other assets to move your money into?

Hey @Adrian Lopez, check out airdna.com and see what your property would pull in. Once you have that info you can compare it with another investment option.

@Jason Johnson thanks for the info and advice! I wholesale in the area and I’ve come across some solid deals but never had the knowledge or capital to take them down myself. The $100k could definitely help with that.

The property is in Grants Pass and yes I’d have time to manage it. If it went well I’d like to continue adding more properties to my STR portfolio. Or I could reinvest the $100k into other real estate opportunities.

Do you live in the area and have the time to manage it? Are there other STR in the area and if so, how do they do? You can do well with STR, but they are a lot of work.

Sell or turn into a STR? Sell or turn into a STR?

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