All Forum Posts by: Robert Finn

@Allen Wu I have a rental in 78250 and operate as a short term rental. The area appeals to travel demand being in a location very near six flags, sea world, Lackland AFB, and UTSA. I've had foundation repair recently due to the extreme heat over the summer, neighbors are friendly in my area and also help with monitoring my short term rental. Very few homes are turn key rent ready, so you'll have to factor in contract work. When I purchased I went ahead and imrpoved some of the exterior, new flooring, appliances, etc. Overall I'm happy with the asset and location and I've seen a nice return on investment.

When my BRRRR property converted to an STR and it's been 85% occupied for over a year, mostly due to many repeat guests and mid term stays. The most rewarding feeling is proving the nay sayers wrong! To anyone starting out, do your homework, network, and take action!

Love to BRRRR in San Antonio, that was my very first deal as a REI and learned a-lot during the process. The cash/hard money, quick close type offers are getting quite a bit of asking right now! Base the value add work off of very recent comps and your ARV should be protected. Best of Luck!!

Congrats on the upcoming sale! I'd also consider going live on your area MLS if not already. You can include pdf spreadsheet of the past 12 months revenue earned, snippets of surrounding Airdna comps, and a link to the OTA listing pages to view reviews in the additional docs section. I'd also list out all the furniture, appliances, and improvements made since ownership.

In San Antonio TX, you can apply before purchasing with the owner's notarized authorization. You'll then need to reapply once possession changes. Seems redundant, but it ensures you will have an active permit during the buy process. The city also has a interactive zoning map, which helps identify if a property is able to get approved for a permit based on density limits. I also advise looking outside of HOA's

When I cashed out refinanced on my rental, I looked for collateral based lender that had the least amount of fees to originate, no seasoning period, and highest LTV. Communication is also just as important, the last thing you want is to work with a lender who is impossible to get a hold of, and cannot meet deadlines.

I made the switch and know exactly what you're feeling! In my opinion, to work with investors you must become an investor. You must know your market, operating costs, ROI, trends, and be able to speak intelligently to these things and more. Your network is just as important. Have you worked with established licensed and insured contractors, lenders, private and hard money lenders, title companies, property managers? How are your rentals performing? Is there a value add opportunity? In multiple offer situations what offer will stand out? These are just a few common conversation topics that you'll have with investors in or out of state. Keep learning and don't give up, the best teacher is experience, not some online guru :)

You're on the right forum to find help in your investment! Once you've selected a market, reach out to other operators on the platforms and ask about operating costs, demand, booking patterns, pricing, etc. You can also talk to local investor agents and property managers whom manage STR's and get their insight. On the other hand, if you are able to self manage you'll save quite a bit on your bottom line. Good Luck!!

Research short term rental regulations, demand drivers in the market, affordability, and cash on cash return. When you've narrowed down to a market that checks all/most of your boxes, interview other operators and get a feel for the seasons and operating costs. An investor friendly agent can help you make an offer on the asset and also expand your network with handymen, contractors, housekeepers, etc.

I own and operate 3 small single family short term rentals here in San Antonio Texas, and the last three months have been mediocre at best (our slower season). December is currently at 80% if all bookings show, how's everyone else doing out there? I'm marketing on Airbnb, VRBO, Furnished Finder, and Booking.com