Tex_Ag_2017 said:
I have started looking into buying an investment property in BCS. My wife and I have decided to save up and try to get a house for around $250k or less. We want to Airbnb or home away or some type of short term rental company. Can anyone give advice on this? Should we buy a lesser value home or a more exspensive one? In the end, if we ever choose to move to college station in the future, we might move into it but for now we would like to try our hand at rental properties. Are there any cons? What kind of returns can we make with this?
College Station has rules on short term rentals and will pursue you if they can for HOT funds. It's easier if you do it with a condo instead of a house in CS. If going with a house, go ahead and do traditional renting.
We did VRBO for a while on a condo, and let out for the home games and a couple more weekends. Let friends and family stay when needed, then rented it out full time the next year. Paid the taxes with VRBO but lost money on the condo association fees. Furnished it relatively cheaply with stuff from Big Lots, Walmart, and Target. Used a teenager of a family we knew for cleaning and used Harvey Washbanger's laundry service for the bedding.
Personally I'd get a duplex and try to rent it. If one side is vacant at least you're getting income from the other. If you move here you can live on one side until you buy. Get a home warranty that covers the AC to protect yourself from appliance catastrophe. Be forewarned duplexes can be on the expensive side.
/2 cents
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