All Forum Posts by: Tyler Solomon

New Braunfels is not STR friendly at all. If STR is not allowed by right, you can either try an re-zone the property or get a special use permit. They SUP requires public notification and a public hearing. All properties owners within a certain radius of the subject property will be notified via mail of the special use request and hearing date. The mailer they send has checkboxes (For or Against) and a comment space, and can be sent back to the city in lieu of attending the hearing. Both the City and the residents tend to fight STRs, and especially SUPs. They have approved very few over the last couple years. NB's handling of STRs has been so egregious that one of our clients has even filed suit again the City.

If you haven't purchased the property yet, I wouldn't count on getting a SUP approved.  Run your numbers for a long term rental; if it still makes sense, full speed ahead. Then apply for the SUP, and if you get it, it's icing on the cake.  If the numbers don't work for LTR, and you're still interested in STRs in New Braunfels, I'd try to source a property that has them allowed by right.  It's my understanding commercial zoned properties in NB are not subject to the ordinance.  There are several houses that for one reason or another have been zoned commercial (at some point) but still operate as homes.  

How much did you spend on the purchase and renovation total? How much is it renting for? Even without knowing those numbers, I can tell you that holding it is the best answer, long term. Keep in mind that most leases are for 1 year. After that, the lease is up for renewal and you can increase the rent. Also, you can list it for above market rent if your renovations make your property look and feel better than the average place. What about pet rent? You could save 10% by managing it yourself. Selling is a bad option because your only buyer is another investor, and investors never want to pay retail price. 

 the property is in a private park the land my home is on is not owned by me it is owned by the owner of the park. I just own the mobile home and the park is open only 6 months and closed for the rest. it would not work as a LTR because of that. it cash flows good park fees are 12k for the season. property will cash flow about 30-35k as long as it is booked out solid which it has been the last 2 years I've owned it. I'm not sure if I should sell it and get out as banks don't look at it as real estate because it is a mobile home. will this effect me with buying more LTR property?