All Forum Posts by: Kingsley Thomas

Getting furniture and appliances is something you will figure out. The real problem is guests complaining about the location.  

Absolutely love this thread. Getting some popcorn. Anyone have any thoughts on the Joshua Tree STR market? Are those properties overpriced as well?

 Where in the Vail Valley would you invest?

I don't really think Shenandoah area is a good fit. It is a very difficult area to operate in because of limited service providers, home quality, and the increase in supply, and big drop in demand. Its a lot of hands on work, and you have to be very very careful with the house you buy. I own a few STRs there and it is not for the faint of heart. If you are looking for a challenging investment with the best return potential, I would look at Puerto Rico. Since your already from a Spanish island, that actually helps a lot. My STR in San Juan, Puerto Rico is booked solid. Check out AirDNA for the stats. More and more flights are being added from the mainland. The airlines are betting on it big.

I own at ESJ Towers in Isla Verde and can give you the DL if interested.

There is a lot more math and tax strategy that you could throw into this to make it a mediocre investment.  But the correct answer is to buy the new house because a terrible investment with a happy wife is better than a great investment with a wife nagging all the time about small closets.

Not sure if you are talking about income taxes, property taxes or local taxes. But In general your rental income will be taxed in the state of your primary residence rather than where the rental property is located. It doesn't matter how much time you spend there.  

There is no need to empty a hot tub after every guest.  That is not ecologically friendly.  Have you ever seen a hotel empty a hot tub nightly?  Just keep a floater in there stocked with bromine as a sanitizer.  Shock the tub after every guest.  Use test strips and check levels every time and adjust as needed.  Also use a spa sponge to skim lotions and oils.  Filters will need to be checked and changed regularly.  I only change the water if it looks dirty or every 2 months; whichever comes first.  I had a hot tub guy come and service the tub after every guest previously, but now my cleaner is trained to do it.

Which county is it in?  The first thing you will need to do is check regulations to see if short term rentals are allowed.