All Forum Posts by: Herman C.

Hi Brenda, can you put the link to your FB post? My friend is looking to buy a STR in Galveston. Thanks.

@Scott Edwards @Taylor Williams @Eliott Elias sending you a DM, thanks.

@Sam White hi Sam I'd like to connect with you on this topic, sending you a connect request.

It’s a little too late now. I don’t know how big the house is and the extend of damage but the price seems high and the construction project wasn’t managed well. Sorry to hear about this.

To answer your question, I would rent it out instead of selling. 

@John Underwood it's a 2 story townhouse with garage and 3 bedrooms on the first floor and kitchen, living room, master bedroom on the 2nd.

@Bruce Woodruff yeah I thought about that option but I could also cash out from current loan (high equity), add some and buy one more if this turns out to be successful.

I'm just not sure if saving agent fees and not having a staging time while putting on market are big enough for me to override what I set sail to do.

Hi there~

I have a LTR 10mins from Med Center which is not making the return I expected; I think mostly is because of its floorplan. I have been thinking about turning it into a STR and had done enough market research to think it could be a successful venture. Had I not been bitten by the Airbnb bug, I would have put it on the market and do a 1031 exchange.

Now when I notified my LTR tenant about terminating the lease (month-to-month) he expressed interest to buy it (i just sort of mentioned a market price range on phone). I'd still do a 1031 exchange but am looking at saving 6% agent fees (roughly $17 to $19K) if I sell it to him. (this is prior to any serious negotiation which might happen later).

I don't think I need to put a lot of investment (<$4000) to turn it into a nice STR vs if I sell and buy another one to do STR there's time and unknown (currently hot market).

How would you guys evaluate these 2 options or maybe there is a 3rd?

Thanks!