It is refreshing that you don’t sugarcoat the housing market bubble here in Austin. One of the most overlooked factors of rental properties are the true net profit/loss from operational expenses. This was a great video detailing every minute details, especially related to both recurring and non routine costs.

@itskayav

2 жыл бұрын

Thank you so much!! 💖

Thank you for sharing!

Thanks for the honest breakdown and valuable insight and experience.

@itskayav

2 жыл бұрын

I’m so glad you found the video helpful!!

Here before your content pops off! Taking notes.

@itskayav

2 жыл бұрын

More videos to come about STR and real estate investing! 💖

Thanks you for your honesty

Thanks for the transparency! I would love to hear your strategy for finding tenants for mid term rentals. My husband and I just leased our first rental to some tenants for 30+ days and are planning our strategy moving forward with mid terms.

thank you for the transparency! I’m so nosy

@itskayav

2 жыл бұрын

You and me both 😉

Thanks for the video, My wife and I are looking to purchase some property in austin to start a Airbnb Business, this video has been very insightful. Subbed

@itskayav

2 жыл бұрын

So glad you liked the video!!

This is so helpful. The trash can moving fee surprised me!

@itskayav

Жыл бұрын

There were so many fees and expenses that I didn’t anticipate! Happy that my video was helpful 💖

Thank you for your video, it was so helpful for me. I was thinking of doing an Airbnb in East Austin but I am going to lease instead.

Great video. Right now I'm in the RV rental business here in Austin and I think the next endeavor would be doing an Airbnb. Keeping my eyes out for deals near downtown in the next few months/year.

@itskayav

Жыл бұрын

Good luck with your search! Market has cooled off a lot lately

Hi, I normally don’t comment on videos but wanted to say that this is SUPER helpful info. Especially for my situation. My husband and I have a condo near downtown in ATX that we have been renovating for Airbnb/VRBO/STR. It’s actually right on west campus. We wanted to go live by March for the same reasons you described, but unfortunately am running behind schedule. Our initial plan was to do 1 month+ rentals only to avoid operational expenses and taxes. However the amount that could be made on day to day rate calculated to be much more lucrative. After watching this video, I feel I should re-evaluate. I guess it really just depends!!! Would be helpful if you could show what ur Airbnb looks like, talk about how many ppl it accommodates, occupancy rate, as well as what amenities you feel are most valuable? I’m also curious to know how you came up with your daily rate. I personally don’t know anyone else who hosts Airbnb’s either. Would love to connect for more Q&A!!

@itskayav

2 жыл бұрын

Hi Diana, thank you so much for commenting! If you check out my last video, I do a walkthrough of my property :) It’s 2bed/2.5bath and accommodates up to six people. I can definitely make videos about occupancy and pricing! Great suggestions 💖

What’s my first step I want to start an Airbnb

this was so helpful thank you so much! did you use AirDNA by any chance to inform your decision to start a STR in ATX?

@itskayav

2 жыл бұрын

Yes I did!

Well done. This gave some good insight. I wonder if it’s better to do Airbnb outside the city to save on taxes and fees

@itskayav

2 жыл бұрын

Potentially! But demand won’t be as high, you’ll likely have lower occupancy and have to charge way less

@jaylee6830

2 жыл бұрын

@@itskayav I was thinking more hill country. But I have a place in central Austin and currently adding a back house unit with a pool. This really made me second guess doing Airbnb vs short term. Please continue with the videos. I like the business aspect and finance approach!!

@itskayav

2 жыл бұрын

Oh yes! Hill Country has some great airbnbs especially for hosting events

@TuanVu-lg8oq

2 жыл бұрын

@@jaylee6830 Hill Country plus having a pool is a big plus. My agent told us her str in Dripping Springs? made 100k and thinks having the pool made a big difference.

@itskayav

2 жыл бұрын

Totally agree! My best friends got married in Dripping Springs and hosted their reception at an Airbnb there. The property had a huge balcony and hot tub, plus guest house. I'm sure it was not cheap to rent! I would say having a pool or some sort of great outdoor feature (fire pit, hot tub, etc) in an Austin STR is a HUGE plus that will boost your nightly pricing.

Thank you for being so open about expenses and how its not all rainbows hosting an Airbnb. We are about to list our single family home in Round Rock and although we don't need a permit in Williamson county to operate, there is a city motel tax and an archaic way of submitting through checks only to the city every month. Not sure if anyone is actually doing this. The have no way of paying online etc I just want to wait til tax season next year instead of monthly checks but am afraid of late fees etc. I dont know, I think I am very done with investing in TX.

@itskayav

2 жыл бұрын

Wow that’s super frustrating, I’m glad city of austin has an online portal!! Usually if you call the county’s office, they’re very helpful and will answer your questions. I had a million questions about austin taxes and they were really nice on the phone.

What about property taxes? Have those been eating the profits? Since they keep going up every year

@itskayav

2 жыл бұрын

They sure have. Property taxes in Travis county are wild

Okay, so it’s even worse when you’re renting the property to make it an air bnb?! I know you don’t have an experience on that, but what are your thoughts?

@itskayav

2 жыл бұрын

Rental arbitrage is no different financially, it’s just instead of a mortgage you have monthly rent

F1 is in Oct

@itskayav

Жыл бұрын

Yes it is

Mortgage and interest is not an operational expense fyi

Wow, you said that you are earning $4166/month ($50000÷12) on short term rentals but you can get $4000/month for a 6 to 12 month rental and you don't have to pay occupancy taxes, cleaning fees and utilities because the rental duration is more than 30 days? I think you totally should give a tutorial on how to earn MUCH MORE than a Short term rental with a mid-long term rental! It will be game changing!

Kayla, you have to tell about your taxes benefits and tax refund for your spends.

i bet that $2500 margin would be gone when you received your new property tax notice anyways... no homestead exemption.

@itskayav

2 жыл бұрын

Such is life