All Forum Posts by: Kim Gillihan
Kim Gillihan has started 4 posts and replied 13 times.
Post: Thinking of buying canal home in Galveston texas for STR
- Posts 13
- Votes 5
Originally posted by @Timothy Church:
Good evening!
STRs down here can be a blast when they are done right. I personally have a handful and manage 13 for other investors.
Judging by the way you described the property it will be investment with some personal use. This honestly is the best fit for a property like this. At that price point, it wouldnt be the best return on your money but if it is above break even and you get to use it whenever then it is perfect!
If you'd like to double check performance numbers, I can send you over an Airdna report on it. Just to give you some more informed numbers.
Hope you invest down here! Always good to get on island time. Let me know if you have any specific questions.
thank you very much, I may take you up on that.. I guess I am still early in my search. thanks again for responding! I know there is a wealth of knowledge here.
Post: Thinking of buying canal home in Galveston texas for STR
- Posts 13
- Votes 5
Originally posted by @Karl McGarvey:
@Kim Gillihan hello! I recently purchased in Galveston for the same purpose. We used @Holly Kaufman to represent us and she is a pro! Honestly could not ask for a better agent. Look her up on here and shoot her a message, she is a wealth of knowledge. If you have any questions about STR in Galveston I am also happy to help.
Karl
Karl,
Thanks so much for responding.. I am still working on talking my husband into this grand idea! That is always how it works... but I think its a potentially great idea. Fear of the unknown is biggest issue. And I didn't originally want to spend that much, but unless I am willing to buy something old and small I am going to have to spend more... I am wanting to get something we will REALLY enjoy and that will rent well. How did you decide what to buy? Beach, dry land, canal?
Post: Thinking of buying canal home in Galveston texas for STR
- Posts 13
- Votes 5
I have been considering this for a long time. Buying a vacation property for us to enjoy and renting to help it pay for itself. I was just looking ( big mistake) and found one I love.. checks all boxes and then some. Its on a canal.. has 3 bed 2 bath, boat lift, nice deck up top, huge outdoor living, outdoor kitchen etc. I spoke to a realtor/property management company and the opinion is the house will be more desireable with all it has to offer thus making renting easier etc. Its more than I started out wanting to spend, but I am willing if it will rent as well as I am thinking it will. Very nicely decorated, new paint, windows..
We are 1.5 hours from Galveston. Its listed for around 500k. Realtor I spoke to thought I can get 50-60 k per year renting...
I am looking for general advice on renting STR property... great idea, horrible idea.. so exciting and scary at the same time.
thanks so much! KIM