short term rental that is also your primary residence
Hello all,
I was wondering if anyone has any input, at all, on this:
Seeking short-term rental property in Austin TX....that I also live in ~ 25% of the time.
My job has me out of town for 14 days at a time with 7 days between 2 week rotations.
Does anyone here have any experience living in / renting out their own short-term rentals in Austin TX.
-- Will HOAs let you do this?
-- Can you get financed with consideration to "potential rental income?" even if you haven't been a landlord before
(I have a little over a six-figure income, significant down payment ready, and excellent credit but I don't think that is good enough to get financed some of these 450k+units in high rental spots like Rainey or downtown?)
I, myself, am not wealthy enough to purchase in cash. 80% would need to be financed.
-- which mgmt/cleaning companies do you utilize?
-- are there other less obvious but otherwise reasonably high rental volume spots other than downtown? The Domain? South East/Riverside that I haven't considered?
I would love to hear from you if you have done something similar before or feel like offering any advice. I'm a fan of the BP podcast and read a few books but I'm just struggling to find anything that matches my unique living situation.
Thanks to all. Have a great New Year!