I'm a first time home buyer in Lubbock Texas and planning to get into real estate by house hacking a SFH. I'm wondering if it's viable to host 2 guest bedrooms on vrbo/ABnB and live in the master bedroom? I work full time out of office so I would be looking for a local full-service Airbnb property manager to take care of everything.
Appreciate any suggestions, leads, tips and thoughts. Is this even viable? What kind of occupancy, monthly income and guests can I expect? Or is it better to go with mid term / long term rentals?
I've looked at out of state PMs like Awning and evolve but I guess it would be better to have someone local manage the BnB. Any leads on a local Airbnb PMs in Lubbock would be great. Thank you.
House Hacking Specialist · Denver, CO · Member since 2016 · 411 posts · 396 votes
3y
@Rony Rockford Congrats on the first post. I would first double check Lubbocks rules and regulations regarding STRs. Here in Denver, you are only allowed to have one STR per dwelling. You can always have one as a STR and the other set for min stay as 30 days? That could work.
Also, I do not think you need to hire a STR PM if they are in your primary and you only have a few. With a few systems in place you can easily self- manage (hiring out cleaning, auto messaging, etc).
If you are renting by the room, I do not think the juice is worth the squeeze renting furnished. I would just list them as unfurnished on 6 - 12 month lease agreements. Easier to scale if you are planning to move out and stabilize in 12-24 months.
I self managed a few STRs + MTRs for 4+ years. Happy to send some of the helpful tools I use. Let me know.