Updated almost 8 years ago on . Most recent reply
Galveston County Investors
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I currently operate 5 STR and will be onboarding a few in the next month. With STR it is all a review game. The first year, you scrape by in the winter and do well in the summer. Once you have a decent number of reviews you become solid during the winter and the summer is amazing.
Example - At the beginning of 2017 I bought two STR together. Side by side identical 2/1s that are 2 blocks from the beach for $310k. I used investor funds to purchase these properties and offered them a 10% interest only 5-year note with a ballon payment at the end. In 2017, after paying all expenses & investors) I was able to net about $10k. If you include the amount I paid my investors monthly ($670) it would be closer to $17k. Now that's isn't with self management but they were a great purchase!
With the long summers and push for off season events, Galveston can be a great place to invest!