AirBnB market in Houston near MD Anderson?

AirBnB market in Houston near MD Anderson?

Columbia, SC · Member since 2017 · 77 posts · 49 votes

Hey guys, investor from SC here. 

I'm doing some research into the feasibility of starting a non-profit that helps people with a certain rare type of cancer (of which I'm a patient too) get to MD Anderson for treatment. Because what we have is so rare, most doctors go their whole careers and may see only 1 or 2 cases. And getting to an absolute expert surgeon is critical for long-term prognosis. (I myself travel from SC to MD Anderson)

What I'd like to know, is what's the market like for AirBnBs down in Houston, specifically near the Texas Medical Center. I stay in them when I come, but I'm wondering what's a typical 3/2 or 2/1 that could use some rehab (Think BRRRR) run? What are the property taxes like? Are people running AirBnBs and successful there? Our city of Columbia is so much smaller than Houston that I'm kind of looking for a pro to just give me some back of the napkin numbers.

Ideally I'd like to see if a model where we let people with this cancer stay for free while they're there, and then rent it out to regular people to raise money when it would otherwise be vacant would be feasible. I know the property taxes can be high, but this doesn't need to be luxury. I think I've paid from $65/night to $80/night the 3 times I've stayed nearby. 

If anyone in the AirBnB market in the area would share some info that would be wonderful. Thanks guys!!

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Investor · Houston, TX · Member since 2017 · 1k+ posts · 871 votes
7y
If I'm not mistaken those areas immediate south and maybe a bit east of the Medical Center are undergoing gentrification right now - if that is the right word. Seems like an area where a lot is going on, not sure.
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  • Houston, TX · Member since 2019 · 10 posts · 2 votes
    7y

    Hi there Casey! I’m sorry to hear about your illness and congratulate you for trying to help others in their time of need! The property taxes in that area should be 2.5-3%. You can check properties nearby on hctax.net to confirm, but make sure to check if they are using homestead or other exemptions because that can skew the data. If you go on Airbnb they will give you very generic info about what hosts are making in that area. There is a paid service, AirDNA that is supposed to give better, more specific info. But I have not used it yet, so I’m mentioning it not endorsing it. Finally, I am not doing Airbnb myself in that area but I have heard they do great!

    Good luck!

    Teresa

  • Rental Property Investor · Houston, TX · Member since 2018 · 174 posts · 100 votes
    7y

    @Kevin Wood May be able to give you a little guidance. Awesome that you are trying to give back. 

  • Investor · Houston, TX · Member since 2017 · 1k+ posts · 871 votes
    7y
    If I'm not mistaken those areas immediate south and maybe a bit east of the Medical Center are undergoing gentrification right now - if that is the right word. Seems like an area where a lot is going on, not sure.
  • Investor · Houston, TX · Member since 2013 · 471 posts · 267 votes
    7y

    Thanks for the reference @Ryan Johnson. @Casey Crowe I have 7 Airbnb in and around the med center. For a 1/1 they run about 65-75 a night, but are a bit nicer and just two blocks away. In terms of what one could cost. I have an apartment complex that I own that is 2.2 miles away that 2/1 are renting for 995 per month (plus utilities and laundry fees). Anyone could rent these units and then Airbnb them out to patients. Message me or email me (email in profile) with any extra info you need and I can give you the numbers. 

  • Flipper/Rehabber · Houston, TX · Member since 2016 · 77 posts · 19 votes
    7y

    @Kevin Wood can we talk? I’ve had some interest in this strategy of subleasing via Airbnb since I heard about it. But I haven’t come in contact with many building managers or complex owners who are as open to this idea as you.

  • Investor · Houston, TX · Member since 2013 · 471 posts · 267 votes
    7y

    @Ryan Collins shoot me an email

  • Columbia, SC · Member since 2017 · 77 posts · 49 votes
    7y
    Originally posted by @Kevin Wood:

    Thanks for the reference @Ryan Johnson. @Casey Crowe I have 7 Airbnb in and around the med center. For a 1/1 they run about 65-75 a night, but are a bit nicer and just two blocks away. In terms of what one could cost. I have an apartment complex that I own that is 2.2 miles away that 2/1 are renting for 995 per month (plus utilities and laundry fees). Anyone could rent these units and then Airbnb them out to patients. Message me or email me (email in profile) with any extra info you need and I can give you the numbers. 

     Hi Kevin,

    Thanks for your response! This will help us get a feel for what things are like and if it makes sense to make this happen. If we end up with more questions, I'll be sure to reach out. Thanks again!!

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