Our First Rentals! (pictures!)
My husband and I dreamed of these for the last 18 months... We pushed, paid things off and saved money... Did much of the work ourselves, and here we are! Landlords! (well, we are taking applications this week) They are single family 400 sq ft 1 bedroom, 1 bath homes.
Our open house has been a success so far! We've seen 5 people... 3 of which asked for the application link. Fantastic responses and feedback. We have made appointments with people so we don't have 15 people in this small space all at once... Several have not shown up or have canceled... Which is fine, we have lots of great people to choose from!
We have 4 more scheduled today and 8 tomorrow.
well done Molly- if you have " no shows" let me know, I live in kyle and would love to come check them out.
These are the perfect fit for San Marcos! They are VERY few and far between, with huge demand... so long as they are within reasonable proximity to Texas State / town (10 min drive +\-), you should have zero problem leasing them at $1095! I'd love to see these in person!
Originally posted by @Federico Portalupi:
well done Molly- if you have " no shows" let me know, I live in kyle and would love to come check them out.
You're welcome to come on out today after 1:30pm! 701 Roland Lane in Kyle. You'll see a blue sign for Kyle RV and Boat Storage, go down that road and continue past the storage and through the gate. They are the first houses you see.
Originally posted by @Brandin Huber:
These are the perfect fit for San Marcos! They are VERY few and far between, with huge demand... so long as they are within reasonable proximity to Texas State / town (10 min drive +\-), you should have zero problem leasing them at $1095! I'd love to see these in person!
Come on out today! (after 1:30pm) -- 701 Roland Lane in Kyle.
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#2 All Forums Contributor
- Real Estate Broker
- Lake Oswego OR Summerlin, NV
@Molly Morlino WOW this is really cool.. this reminds me of a MHP I bought in Vancouver wa.. the family built it from scratch 44 spaces.. then hand selected every tenant.. ran it for 30 years you talk about a tight little rental community. you be UBER picky on who you put in those cute brand new units and you will have a GREAT investment.. contracts.. and you got to love Texas land use policies you could not pull that off in most states ( zoning and land use permitting wise.).
keep at it.. some of the best rental stuff I have ever seen on BP...
We have several applications in now... Looks like they will both be rented this week!
We plan on building 4-6 more on this land. I'm looking forward to a nice, long break! But in about a year we'll be back at it again!
I already have a LONG waiting list of people interested in the next batch of "Little Houses" :-D
@Molly Morlino - Beautiful! Have you considered testing one of the units as an AirBnB rental? Where I live in San Francisco, truly tiny homes (>200 sq ft) rent out for $120 a night with very low vacancy. Granted the Austin area market is different. But given what you shared about how your area is booming, it could be very lucrative to do short-term rentals. Really nothing to lose, it's more a question of is the extra income worth the extra time and effort doing active property management. As another option, you could try a middle route and do 30+ day rentals.
I love tiny homes and I hope your community is wildly successful!
Originally posted by @Ethan Cooke:
@Molly Morlino - Beautiful! Have you considered testing one of the units as an AirBnB rental? Where I live in San Francisco, truly tiny homes (>200 sq ft) rent out for $120 a night with very low vacancy. Granted the Austin area market is different. But given what you shared about how your area is booming, it could be very lucrative to do short-term rentals. Really nothing to lose, it's more a question of is the extra income worth the extra time and effort doing active property management. As another option, you could try a middle route and do 30+ day rentals.
I love tiny homes and I hope your community is wildly successful!
It's definitely something we will look into! We plan on 4-6 more monthly rentals on this land, then an additional 10+ on another parcel of land. We live near the "wine trail" of Fredericksburg, TX so we'll be looking into that for nightly rentals. That would be phase 3, as we want to get some solid financial footing before diving into that. But probably 5+ years!
Quick update... We're signing leases this weekend for 12 month lease terms and monthly prices of $1095 and $1145 (they have 2 dogs and we charge "pet rent")! We have the security deposits and first months of rent already in (we used Cozy). It feels SO good to have money coming in (and not going out)!
@Molly Morlino Thank you for sharing! Truly inspirational. Have you started the next phase of building? So curious to hear an update!
Originally posted by @Sydney Groen:
@Molly Morlino Thank you for sharing! Truly inspirational. Have you started the next phase of building? So curious to hear an update!
We're actually looking into RV/Boat storage (on some different acreage). We'll hopefully be starting that this summer... OR more "little houses" in the fall!
You guys did a great job! Congratulations.