All Forum Posts by: Jeremy R.

Hello Everyone,
I want to buy an investment property and am here to learn about STR investing before I buy one. I have a full-time remote job and am looking for a property as an alternative investment.

I am looking forward to connecting with you all and Learn.

 Hey Jeremy, This is exactly what I want to do!!!  I'm open to MTR's too.  I'm having a hard time figuring out what areas of town I should focus on.  I would appreciate any help you could offer!

I'm originally from San Antonio and recently moved back. I've had a SFH LTR for over 15 years, but I am new to actively looking for investment real estate. I am most interested in the BRRRR method and am looking to connect with investor friendly realtors and contractors. Look forward to hearing from everyone!

 NO has tried sending a list, but Airbnb and VRBO do nothing with it.  

Question:  You stated that the booking platforms will remove listings that do not have a valid permit on their listing.  Are you sure about this?  

I live in New Orleans and the city has been demanding that the platforms, e.g. VRBO and Airbnb police the permits and validate them on their side, which the platforms have refused to do.  

I'm looking for options for possible next moves for one or all three of our single-family rental properties in the Austin and San Antonio areas. They have low 20% ltvs and have market values in the ~350k. A local Property manager manages them. We've owned them for 20-plus years but the recent property tax increases have negatively impacted our cash flow as have major repairs such as roof replacements, AC units, etc. We're looking for possible next moves including doing a 1031 to a lower prop tax state into a couple of newer SF units or possibly a multi-family opportunity. Or cashing out and parking the money for a while. Unfortunately, we live in California so we would have to pay significant capital gains if we sell.

San Antonio has been one of the cities with the largest increase in short-term rentals in recent years. Given this, the city of San Antonio has changed their short-term rental rules and regulations. Below you can find a quick FAQ sheet of the updates they have implemented and will be implementing soon.

Quick Overview:

- The cost of application fees has increased

- Platforms will remove listings without legitimate permit numbers

- Platforms will have to remit the Hotel taxes directly to the city of San Antonio (Operators still have to file revenue reports monthly)

- STR operators can change the operator of the permit without a new application being required (it seems the permits are still non-transferable upon sale, however)

- Updated Party Prevention measures

My Take:

This should weed out some hosts that have not been abiding by the permit requirements. The fee increase for the permit was not exorbitant so that likely won't be a deterrent for professional hosts and investors. Having the platforms remit the taxes should ease the burden on most hosts having to do that each month currently.