Need Advice on Best Option l
Hi everyone, I just closed on a new build in New Braunfels, TX yesterday and thought I would STR my current house, in San Antonio, TX, which I owe $170K. Listening to a recent podcast on BP, it gave me the idea to Airbnb the property, which would decrease my moving expenses. I then start fresh with to furnishing my new house, which I plan to rent out 3 rooms, while I live in one.
Questions:
1) is it ever not a good idea to leave most of my furnishings for the Airbnb property? I listened to a podcast where the couple had the same furnishings for all their properties, for standardization and ease of replacement. I wanted to leave my furniture bc most of it was from the marriage home and I'm divorced. It'd be nice to start fresh.
2) I know Airbnb has their set of rules on what to list it for but would I be better off doing STR or LTR?
3) Regarding renting out my 3 rooms in the new house, what tips and advice should I follow for a successful arrangement?
I'm new here and a beginner investor. Any suggestions is highly appreciated. 🤠😊
~Michelle
Most Popular Reply
Have you looked into the rules for operating a STR in the city? HOA? This is the most important right now.
Have you looked into what other STRs are doing if it is allowed in your area?
When I went through a divorce, I didn’t want to live in the home again because I bought it for her. (She left the state so that is why I received the home.) I converted the home into a LTR and it’s been doing great so far.
I don’t think there is anything wrong with leaving the furniture if it is in good condition.
However, you will need to ensure you can convert your home into a STR first.
You can also check into converting your home into transitional housing or by the room.
I hope this helps.
I wish you all the best.