All Forum Posts by: Peter Holloway

I thought I would post here as we just had an offer fall through. We our selling our LTR property at 3109 Oakley St, Abilene, TX 79606. We were the first homeowners in 2018 and rented as a LTR starting in 2020. You can find it on zillow or on any of the realtor/seller/buyer apps. If you can't find it, let me know and I'll get you a link. 

My wife and I are changing our investment strategy away from LTRs and STRs (that aren't in vacation markets):

As a LTR for us: 2020 leased for 1850, 2021 leased for 2000, 2022 leased for 2400. We use a local Abilene friend who has acted our eyes, ears and dealt with maintenance issues/turnover of tenants. I'd be willing to provide his name as he has been invaluable to us operating this from a distance.

As a STR: Abilene has an Air Force Base, 3 colleges, etc. I can provide you an individual who successfully operates STRs in Abilene, has analysis on the market and offers services to operate as property host for a fee if you wanted to be completely hands off. Even though we decided not to operate as a STR, we have maintained a relationship with this individual as well.

Thank you for taking a look!

Have you done any "enemy method" research for both in your immediate area? See how each rent out and get a better idea of pricing. I think you are on the right track with your ideas. I stayed at a place with a door in between units. You just have to be able to operate such that you may only be renting 1 rental at a time. 

Have you thought about just starting as a side hustle first? I recommend joining some of the facebook groups for emerald cost short term hosts. You will see folks post from time to time looking for cleaners.

We operate one in Panama City Beach and have enjoyed it. After we figured out our budget, we looked for one that my family would typically be looking to stay at if we went down using Airbnb. Ours was turn key in the since of structure and some furniture so we were able to just decorate, swap some beds, and a few other things to get going. We've since done other stuff and now that summer is slowing down we are going to do some more improvements but originally were able to hit the ground running a week after closing. Of course we looked at different calculators, enemy method to see what rates folks are getting, but overall we are playing the long term game even if it is a STR. I went off on a few tangents here but if I can help further let me know.

Quote from @Kevin Pillow:

Quote from @Taylor Jordan:

Has anybody ever invested in Ojai, CA? How is the Airbnb action there? Is there anywhere better?

So do you mean literally where are the hottest spots for AirBnB or figuratively? Because if it’s the latter then my vote is for Destin Florida or Panama City Beach.

I agree. For me, it's where were people taking trips before covid stir crazy, during all economies, and the local economy enjoys the people coming in. Bias too because we own one and love vacationing along the Emerald Coast. Looking for another very soon!



I agree. For me, it's where were people taking trips before covid ABNB craze, during all economies, and the local economy enjoys the people coming in. Bias too because we own one and love vacationing along the Emerald Coast and looking for another very soon!

On site PM if you aren't going to do it yourself! We are in PCB too at Portside Resort. Enjoy!

I stayed at a place with a DUO. I did not find it as easy to use as regular Keurig's and drips. I'm going to stay with a separate Keurig, drip, and a french press for the fancy drinkers. I provide k-cups, assorted single serve creamer, and splenda/stevia/sugar.

Quote from @Michael Baum:

Quote from @Peter Holloway:

Quote from @Paul Sandhu:

I don't think the 2% rule applies to short term rentals.  My rule is that 6 months of grosss rent should cover the purchase price of the house.   It can take 7-10 months to get 6 months of rent.

The purchase price? Where are your homes? 

Coffeeville, KS. The worst town to live in in America. Refinery town.

If it works, it works. Cheers! 

Quote from @Paul Sandhu:

I don't think the 2% rule applies to short term rentals.  My rule is that 6 months of grosss rent should cover the purchase price of the house.   It can take 7-10 months to get 6 months of rent.

The purchase price? Where are your homes? 

Quote from @Nathan Gesner:

I recommend a portable unit. The only thing it requires is access to a small window to vent out the humidity. Stores in a closet and can roll out and hook up on occasions where it's needed. I have a very large Master bedroom in my vacation home with a wall of windows that get sun in the evening, yet this system cools it nicely.

The master bedroom just has large windows that don’t open with a sliding door in the middle. The guest has a large vertically open (opposite of photo) so it could work.