All Forum Posts by: Bryan Noth

@Dave Meyer very well put together post, thank you for sharing.  I enjoyed the wider lens perspective of including past years' data and not just the preceding year.  

I would have added the 30+ day rentals to the list of ways to make cash flow early after acquisition. That model is seeing tremendous success in the Austin MSA currently and it circumvents STR restrictions.

I second @Daniel K., as an investor considering a market I would like to see KPIs on vacancy numbers.  You referenced low vacancy but being able to plug in hard numbers to a calculator would be a tremendous (and precise) boon when using the BP calculator.  

@Jimmy Woodard yes this does apply to residential permits. However commercially zoned residences are either apartments or hotels. Most every commercial apartment building will have rules and regulations for subletting or guest policies that will restrict STRs. Not to mention obtaining a license for a STR in such a property type would a daunting task, those licenses typically require proof of ownership. I suppose if you owned the entire building that's a different story but at that distinction you are borderline operating as a hotel which is another ball game for commercial zoning and regulations entirely.

@Joe Splitrock that has been mentioned in other periodicals as well and is a good point to emphasize.  Tesla is not abandoning California but that they and many other companies have felt enough urge to uproot headquarters speaks to the state of operations and should be heeded.  The governor of California himself recently made a remark stating “We need to step up our game — time to be more damn competitive,”

@Aaron Gordy is spot on here.   @Jimmy Woodard and @Turgut Oz, the STR game in the proper City of Austin is nearly impossible as a non-owner occupant. If it is your primary residence that changes the outlook dramatically.

It may be worth considering the suburbs.  Many of the adjacent cities have essentially melded with Austin (Round Rock, Cedar Park, Pflugerville).  Some have more niche markets, such as Dripping Springs and Driftwood which tend to be more venue event driven STRs.  These cities have significantly lower restrictions currently.  

And lastly, avoid HOAs if you want to pursue the STRs strategy even in suburbs, they tend to restrict rentals under 30 days. 

@Calvin Matthews completely agree.  It was rather unambiguous foreshadowing when the Tesla annual shareholder meeting was announced to take place in Austin and not California.  

@Lee Nye no confirmation as to where the HQ will be, however Tesla owns a rather large swath of land at the current gigafactory site in Austin.  Elon Musk also made this comment, which is a fair indicator it will be at that location: 

Tesla owns just under 2500 acres of contiguous land at that site.  One parcel of 2100 acres and then subsequently purchased an adjacent parcel of 381 acres. 

Whispers over the past several months had hinted at this development and Elon himself has confirmed the news today.

https://www.bizjournals.com/au...

More growth for this NorthWest Austin suburb.  Also worth noting Cedar Park is completely revamping their downtown corridor along 183/Bell Blvd.  The official plans are here:

https://www.cedarparktexas.gov…

Original article linked here:

https://www.bizjournals.com/au...

@Alexis R Beckley congratulations on getting your license.  There are several events in the area, some announced here and others on other social media platforms.  

Great to connect and this is a terrific platform to learn more about REI

Notable here that the corridor between Austin and San Antonio is gaining attention for long term prospects.  Hays County by percentage was the fastest growing county in Texas and San Marcos, Kyle, New Braunfels have all been top growing cities in the state, and country by percentage gains over the past decade.  A strong area, by the numbers alone, to consider when scouting for a path of progress in Texas.  

https://www.bizjournals.com/au...