Looking for good markets for STR
I am new to STR market and currently in the market shortlisting phase. We have shortlisted Texas as our potential market (specially Fort Worth, Arlington areas). Can someone provide some insights on these markets? Like are these saturated markets for STR?
what is the average yield or CAP for properties around 400-500K in the area?
what are the regulations?
Thanks.
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#3 Short-Term & Vacation Rental Discussions Contributor
- Property Manager
- Gatlinburg, TN
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#3 Short-Term & Vacation Rental Discussions Contributor
- Property Manager
- Gatlinburg, TN
You will have to contact the city or county about code restrictions for any property that you are looking at. If you buy in an area that is traditionally residential, you will likely have a lot of pushback from your neighbors, opening up a hotel on the block. As a result, municipalities and HOAs are on the war path to get vacation rentals banned.
My biggest issues with Texas is that the property taxes and insurance are prohibitively high.
- Collin Hays
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