All Forum Posts by: Raj Vegulla

Hi Bruce

Thank you for sharing your perspective on Escondido, and I appreciate your input.

Regarding your suggestion to sell the house and take the cash to Texas, I'm actually considering keeping the property in Escondido as a potential option to return in the future. While my move to Texas may not be permanent, I would like to have the flexibility to come back to San Diego if needed. That's why I'm exploring the idea of converting the house into a short-term rental while I'm away.

In Texas, I plan to purchase a separate property that aligns with my medium-term goals. However, I believe that holding onto my current property in Escondido could provide additional financial benefits and serve as a potential anchor in case my plans change down the line.

Thanks again for your input!

Hey Michael,

Thanks for your response and valuable suggestions! I appreciate your input. In regards to the Escondido market, I have indeed done some initial research on platforms like VRBO and Airbnb to get an idea of the rental potential. Based on the property's specifications (3000 sqft, 4 bed, 3 bath, with a 35,000-gallon pool and stunning 270-degree mountain views), the Airbnb estimator provided a rate of $485 per night with an estimated occupancy rate of 16 nights per month.

While these numbers look promising, I'm aware that they are just estimates, and the actual results may vary. That's why I'm seeking guidance and insights from experienced individuals who have firsthand experience with short-term rentals in Escondido or similar markets. I believe hearing from those who have gone through this process will provide me with a more realistic understanding of the potential challenges and opportunities.

If anyone has specific knowledge about the Escondido market, or local regulations, or has successfully managed similar properties, I would greatly appreciate their input. 

I'm eager to gather as much information as possible before making any final decisions. Your insights and guidance would go a long way in helping me navigate this exciting but significant transition.

Best regards,

Raj

Hey Bigger Pockets community!

I hope this post finds you all in good health and high spirits. I've been contemplating a significant life change and wanted to reach out to this knowledgeable community for advice and guidance.

Here's the situation: I currently reside in Escondido, California, and own a primary residence that I'm considering converting into an Airbnb or short-term rental (STR) property. Alongside this, I'm contemplating a move to Texas. I understand that this is a big decision, and I'm seeking insights from experienced real estate investors and professionals who have ventured into the world of short-term rentals or have made similar moves.

While Escondido has its charms, I'm drawn to the potential financial benefits and the lifestyle opportunities that come with running an Airbnb/STR. With its proximity to popular tourist destinations and attractions, I believe my property could be an excellent candidate for vacation rentals. However, before taking the plunge, I want to ensure I've explored all aspects and considered potential challenges.

I'm particularly interested in hearing from individuals who have converted their property into an Airbnb/STR. What were your experiences with local regulations, managing the property remotely, and maximizing rental income? How did you navigate any potential issues with neighbors or homeowners' associations? Any tips, pitfalls to avoid, or best practices would be highly appreciated.

Additionally, I'd love to hear from those who have made a similar move from California to Texas.  How did you navigate the logistics of moving while managing your investment property from a distance? Did you encounter any unexpected challenges or opportunities during this transition?

I believe that learning from the experiences of others is an invaluable asset when considering significant changes like this.

Thank you in advance for your time and willingness to share your insights. The Bigger Pockets community has always been a fantastic resource, and I'm excited to hear from you all!

Warm regards,

Raj