Initiating a short-term rental

[Rafael Valles]

I’m interested in learning the opportunities to pursue the path of short-term rental in the Austin area. Curious about how to analyze the feasibility that it would be a viable business in 2023. 

[Michael Baum]

Hey @Rafael Valles, Austin is a tough market. Lots of restrictions and areas where it is prohibited.

Take some time and do a search on the forum and read up. Contact the city to see about the area where it can be done legally.

You are talking about buying properties right?

[John Underwood]

Quote from @Michael Baum:

Hey @Rafael Valles, Austin is a tough market. Lots of restrictions and areas where it is prohibited.

Take some time and do a search on the forum and read up. Contact the city to see about the area where it can be done legally.

You are talking about buying properties right?

Avery's book will give you pointers on Analyzing a property once you see if this ares is feasible. 

[Eliott Elias]

Austin is a tough market to STR in, there are permits and regulations that take time and money. If after evaluating all the costs and risk you still want to pursue, go for it. I like the LTR play.

[Nathan W.]

Property taxes also make Austin a rough place to invest in. 

[Brooklyn McCarty]

Quote from @John Underwood:

Quote from @Michael Baum:

Hey @Rafael Valles, Austin is a tough market. Lots of restrictions and areas where it is prohibited.

Take some time and do a search on the forum and read up. Contact the city to see about the area where it can be done legally.

You are talking about buying properties right?

Avery's book will give you pointers on Analyzing a property once you see if this ares is feasible. 

What John said. Look up Short Term Rental, Long Term Wealth. Great place for beginners 

[Jordan Moorhead]

@Rafael Valles our team is doing really well with these and we own a few too! You should connect with @Devin Dang, he just did a presentation on them in Austin and I'm sure he'd be willing to go over it with you. You just have to do it right because like other posters said there are regulations that can get in the way.

[Rafael Valles]

Quote from @Michael Baum:

Hey @Rafael Valles, Austin is a tough market. Lots of restrictions and areas where it is prohibited.

Take some time and do a search on the forum and read up. Contact the city to see about the area where it can be done legally.

You are talking about buying properties right?

Hey @Michael Baum, I live in Austin and we are planning on moving to another house some time between the end of Summer early in the Fall this year. But we don't want sell our house so we are thinking on renting the property long term or going with the hospitality path (STR). But before going all in, I wanted to make sure it is actually it would be a good option for this kind of busniess in the area where I live.

[Rafael Valles]

Quote from @Eliott Elias:

Austin is a tough market to STR in, there are permits and regulations that take time and money. If after evaluating all the costs and risk you still want to pursue, go for it. I like the LTR play.

@Eliott Elias, thanks for the heads up. I wasn't aware of any regulations or permits required for this line of business. 

[Michael Baum]

Gotcha @Rafael Valles. I would hold onto the house as well. A LTR is a no brainer if it makes some cashola.

So first get on the horn with the city to see if your address is usable as a STR. If it is, then you can go from there. If not, the LTR is always an option, but you could look at short stay long term rental (SSLTR) my own term for a mid term rental. Is there stuff nearby that would make people use it for longer than 30 days but less than a year?

[Conner Olsen]

Quote from @Rafael Valles:

I’m interested in learning the opportunities to pursue the path of short-term rental in the Austin area. Curious about how to analyze the feasibility that it would be a viable business in 2023. 

You need to know where to look. There are a lot of risks for STRs in Austin right now.