All Forum Posts by: Lallu Tappu

Curious to see if anyone here has had any success with STRs in the Lake Texoma area. What are the seasons like. What kind of properties make for popular rentals. How big/small to keep them for optimal appeal and what are some of the operating costs. Any realtors, cleaning companies, contractors specializing in STR in the area that are willing to connect, thank you in advance!

@Lance Doty sent you a PM

Since I am self managing, I’m trying to stay above a certain price point. I’ve dealt with enough cheaper properties to know that they’re not my cup of tea. 

Thanks @Nick Brown, I would rather go further out than buy someone else's crap due to FOMO. Even if I have to go to Van Alstyne to get something I can hold and manage long-term, I'd be open to it. 

Yup, that has been my observation as well. No matter what the media says, the market has not shown any signs of slowing down. Even as we enter Thanksgiving week, total clunkers in Plano are selling for over asking within weeks.

Hi All, up until early this year, I was able to find properties that would cash flow even in Plano/Frisco with minimal oversight. Being a passive investor self-managing all my properties, it is important to get them close to Plano/Frisco and relatively newer. This has not been an issue in the past but seems like anything that matches my criteria since late January gets multiple offers way over asking within the first day. Has anyone had any luck in the area? My realtor has almost quit responding to me since he has so many more people willing to throw money at these properties that will never cash flow and are a pure appreciation play. I have seen complete clunkers going for $40k over asking, which was already higher than what they are worth.  

Me too!

 Hmmm I haven’t yet, just based on what’s on the listing for the unit on Redfin. 

Thanks all for the information. I’ll reach out to some of you individually. 

We're visiting Galveston from Dallas and fell in love with the island and our VRBO rental in the pointe west resort. So much so that we're thinking of buying a place of our own to rent out and stay when we want to. Preliminary research shows the HOA at Pointe West is over $1300/month which seems pretty high. We would need the unit rented at least a week every month just to make up for the HOA. Then there's the mortgage, PM and other expenses. Does anyone with experience on the island know if there really are properties that cash flow here after all things considered or is this not a good idea? Doing some back of the napkin math and listings on Redfin right now it doesn't look like anything listed right now makes sense from an investment perspective. Any insight or advice will be much appreciated. Thanks in advance!

@Lucia Rushton, I'm looking to start with something smaller, close to 10 doors. Thank you!