Latest / Short Term Shopping / Fredricksburg and Central Texas

Transcript

Fredricksburg and Central Texas · Short Term Shopping

• 0:02
  Speaker A: Short term shopping, we're in Texas. Oh, speaking of. There we go.
• 0:09
  Speaker B: Yeah, I didn't even, didn't have to remind you.
• 0:12
  Speaker A: There we go. All right, now we can shop for some houses. All right, so we're in Texas. Also wanted to mention, please, if you're listening on Spotify or Apple podcasts, please give us a review. Matter of fact, I noticed last time I looked there were zero reviews on this podcast and I know people are listening because they're hitting it hard on YouTube but no reviews. So please hit us with 5 stars. We would appreciate that as we are going to shop for some houses and Texas Hill country with Stacy from the short term shop. How are you?
• 0:49
  Speaker B: I'm doing great. How are you?
• 0:51
  Speaker A: Wonderful.
• 0:52
  Speaker B: Glad to be here.
• 0:53
  Speaker A: Spring has sprung. All right, well. Yeah, what do you have? What do we, what are we doing? We got any deals out there? We got good deals, bad deals, all the above. What do we have?
• 1:05
  Speaker B: Yeah, yeah, there's some great deals. One of the things I wanted to kind of share because I think I find a lot of people are looking for this and I don't know that a lot of markets actually have this is the opportunity to buy a property that has multiple rentals on it. So these are going to be a little bit higher price point. But I didn't want to call that out because I do think there's some great opportunities, you know, to have. Granted, I, when I started my short term rental journey, I had visions of building a whole, you know, compound of short term rentals and that's hard. Praise God. I didn't do that because I'd be broke by now. But there's opportunities that are already out there, you know, that will that have that. So I wanted to share a couple of those. Let me share my screen.
• 2:08
  Speaker A: So this speaking of compounds is eight bedrooms. Is something, something large here?
• 2:13
  Speaker B: Yeah. And it's four units that are all two bedrooms, two bath each. Good location, you know, but there's so much opportunity like, and they all have a nice base, you know, to build from. I think they could use a little bit more personality and give it a little bit of wow factor. But overall it's a great opportunity for somebody who wants to have a multi, you know, a multiple unit type of thing. Have a big tax write off from it and do really well right off the bat.
• 2:50
  Speaker A: And they're all connected to each other. It's one, one building.
• 2:52
  Speaker B: They are, they are, but they have, you know, the way the, the entries are on each one, it doesn't feel, you know, like your neighbors are right there. It doesn't feel like a condo or something. It's a little bit more private.
• 3:10
  Speaker A: What, what do you think this was built as? I guess for like a small. Like a quad. Like a long term rental situation.
• 3:15
  Speaker B: Yeah. Or it could. Short term rentals are so popular in this market. It may have been built as a short term rental. Let me see what year it was built in. 1997. It might have been built more as long term rental, but it's a, it's a cool opportunity.
• 3:35
  Speaker A: It's an interesting property. What's the location like on a scale of 1 to 10?
• 3:39
  Speaker B: It's a great location. You know, you're just a couple minutes from Main street, so, you know, very easy access to all the tourist attractions.
• 3:47
  Speaker A: Any idea what a 22 would rent for, like one of these units, Give or take?
• 3:52
  Speaker B: Yeah. So Tutus typically will start at about 60, you know, mid range, about 60, all the way up to 100 plus.
• 4:05
  Speaker A: Maybe assume these would be on the lower end of that because they're not like, you know, they're more.
• 4:12
  Speaker B: Yeah, Honestly, I think if they change some of the decor, you know, did maybe some accent walls with wallpaper or something like that, I think they could do really well. There's another property in town that has. It's also four units. They're not connected like this one, but they all share the same courtyard. But they were designed by a designer here in town and they look like really high end hotels. And they. That compound does 200 plus a year.
• 4:45
  Speaker A: And I would guess this seller's probably got some rental history if that's something that somebody was interested in.
• 4:50
  Speaker B: Yes, I'm sure they do. That's a great point that you bring up because what. In the Texas hill country, most of these are either second homes or hobby properties. They're. Everything is with the property manager except for our clients. You know, everything else is with a property manager. So the numbers are usually not great. You know, they're not. They're usually pretty disappointing. But that's where, you know, price labs and stuff comes in, where you can go in and see what high performers are doing. Because this one should. I don't, I don't know the numbers on this one. Quite frankly, it may be doing fine, but my experience is most of the time the numbers are a little bit disappointing because they're really not managing it very well. Mm.
• 5:36
  Speaker A: It's in pretty good shape though. Obviously everything's been updated and beautiful and ready to rent, so that's nice. In some cases, you Pay for it, obviously, but not a lot of time to spend here. You can just turn the key and go, right, what's the price history look like?
• 5:53
  Speaker B: It is.
• 5:57
  Speaker A: I'll keep going. This is way down there.
• 6:00
  Speaker B: Yeah. Set.
• 6:02
  Speaker A: That's. Yeah, there you go.
• 6:04
  Speaker B: I. I don't think it's sold in 2025, honestly.
• 6:08
  Speaker A: Yeah, it's not very accurate here on Redfin.
• 6:11
  Speaker B: Yeah. Yeah, it looks like it probably sold in 2021 for sure. And then it's been on the market off and on for quite a while.
• 6:30
  Speaker A: Almost three years. Are they. Are they lower than what they paid? What was the asking price back there in 21?
• 6:37
  Speaker B: In 21 it was. Yeah, one point. Almost 1.7.
• 6:42
  Speaker A: Yeah. So they're lower than what they paid already.
• 6:44
  Speaker B: Yeah, Yeah, quite a bit. So potential opportunity. And let me see. Oh, this one actually, this is actually a really good opportunity. That's one of the best opportunities on the market, in my opinion. This is also in Fredericksburg and it's a main house that's a three bedroom, two bath with a separate detached garage apartment. That's really cute. And they both have permits, which is rare in this market. Having two permits on the same lot is really rare. They don't allow it anymore. But these are grandfathered, so they're. They're good to go. This one needs a decor refresh big time. But it's a couple minutes from Main street and like the furniture all needs to go. The decor needs to be updated. But it could be really a really phenomenal property. It's a lot of space. I think this one is actually a pretty good deal and it's been on the market a while too, so I actually think you could get a better price both. So the main house has a hot tub and the. You'll see in a minute. The guest house has a cowboy pool. This is the guest house over the garage, but it has a completely separate entrance. So you could rent them separately. And this could be like a little
• 8:36
  Speaker A: honeymoon cottage, maybe even a long term tenant in the garage.
• 8:42
  Speaker B: Mm, yeah, you could do that. It's done. I can't remember the numbers on this one. It actually did better than I had expected it to just because of the decor and stuff. But I think it could do 100 plus. Location's really great. It's just a couple minutes from Main Street. It's across the street and I think part of the reason it's across the street from a. A restaurant. It faces the back side of a restaurant, but it's a very. It's A nice street. It's not. There's nothing wrong with that. And guests don't mind. Mind that it doesn't look bad or anything like that. But I do think that's why it hasn't sold as a primary home, because I actually think it would make a good primary home except for the location. But the. For short term rental. It's a great location because you're less than five minutes drive to Main Street.
• 9:42
  Speaker A: Price history.
• 9:44
  Speaker B: Let's see. It's been on the market a while too, Though. It sold in 2018, so it's been on the market over a year off. And yeah, it's pretty common, especially when people list really high right off the bat, which we see a lot in this market. So. Yeah.
• 10:16
  Speaker A: Okay. I like it. It's cool. What else we have?
• 10:20
  Speaker B: All right, the. Did I stop sharing?
• 10:23
  Speaker A: Nope.
• 10:24
  Speaker B: Okay, so this one is a great one that just came on the market. It is a super cute bungalow. It's half a mile the main street, so you could walk.
• 10:35
  Speaker A: We're still on the other screen. There is a share situation.
• 10:39
  Speaker B: Okay. Sorry about that.
• 10:40
  Speaker A: That's okay. Here, let's try this. All right, now try it again.
• 10:51
  Speaker B: Sorry. Yeah, it said it was paused, but I couldn't figure out how to unpause it. Okay, can you see it now?
• 11:06
  Speaker A: There we go.
• 11:07
  Speaker B: Okay, so this is a really cute little bungalow half a mile to Main Street. It's walkable to me, and it was designed by a designer a couple of years ago. Really well done. So just a lot of charm and character. Two bedroom. It's two bedroom, two bath. And it's got. This is the kind of details that people in Fredericksburg like, you know, like the accent walls and wallpaper and, you know, just something different that has. That feels a little bit. Has a little bit of wow factor.
• 11:52
  Speaker A: Wallpaper on the ceiling.
• 11:53
  Speaker B: Yeah.
• 11:56
  Speaker A: Cool. Yeah, this. This is set up and ready to go for a rental.
• 12:02
  Speaker B: Yep. This one is completely turnkey. Yeah, you literally just close on it and start renting it the next day.
• 12:13
  Speaker A: Very cute. Instagram friendly.
• 12:17
  Speaker B: Very, very. That's a good price history. This one was bought in 23, I think. Let's see. Yeah, it was. It was bought in 23. A flipper had bought it before that remodel. Completely remodeled it. Did a really good job on it. Sold for close to this price, I think. And so now they're relisting it.
• 12:55
  Speaker A: Okay, cool. I like that one.
• 12:57
  Speaker B: Yep, it's a good one.
• 12:59
  Speaker A: What else you got?
• 13:01
  Speaker B: All right, and then this one in Spicewood, also a two Unit. It's a little bit lower price point, but very cute Lake community with access to pools. You know, the lots of neighborhood amenities that your guests would have access to. And these can be rented together or separately. So the main house is actually a 2:1 and then you have a guest house that's a 1:1. But it's been completely redone, remodeled. Spicewood is a lake community as well as a wedding community. So you're going to get a lot of wedding guests staying there, a lot of, you know, warm weather guests coming to enjoy the lake. And you're just across the street from the lake at this property. Yeah, there's your neighborhood amenities, which are great because the property, the HOA on this one is only $54 a month and you get a lot for that price history.
• 14:23
  Speaker A: It's a big areas we're covering here sometimes. Right. Like this is far from those other properties.
• 14:28
  Speaker B: It is, yeah. My area is pretty big. You know, Texas Hill country spans a lot of. I would say the majority of my clients are buying in like Fredericksburg or Wimberley area. I do have some in San Antonio and Austin. But every now and then, you know, you'll get. You'll find a cute property like this that comes up. That's a good opportunity. So I wanted to share that. This one was sold in 2022. I think they did a remodel on it and then relisted it. But it's also been on the market a while.
• 15:05
  Speaker A: I got you. Okay. I want to look at some Wimberley, but let's look at this other one. You got one more?
• 15:10
  Speaker B: That one. Actually, I already pulled up. Let me. So I've got. What do I got in Wimberley? I thought I had looking. I know, I know there's some great opportunities there. Oh, here. This one's in Wimberley. This is another multiple unit property that I think this one has. Let's see. It has two homes on it, but they're both good size. They are a two bedroom, two bath guest house and a three bedroom, two bath main house. But you can see they've got separate drive. So it feels completely secluded from one another. It doesn't feel like you're right on top of each other. This is a newer home, you know, that's been remodeled obviously, but they've done a really nice job on it. And Wimberley also is one of those communities that has. It's pretty easy to find multiple properties on one piece of land that you can rent out.
• 16:27
  Speaker A: This is turnkey.
• 16:29
  Speaker B: This one's very turnkey, ready to go. It's very clean. I would again, I'd probably add a little bit of personality. It's, it's beautiful. They've done a great job. It feels like a very nice home that you're going to and people really kind of want a vacation experience. So, you know, even adding a mural outside or something, those Instagram able moments that they can take advantage of, that does really well. And this one, it's on five acres also, so you have some room to add. You know, if you wanted to add an ADU or add a pool, there's plenty of room for that. That looks like it was probably first listed just last month. So it's new on the market. Maybe the original owner, based on this history.
• 17:39
  Speaker A: And what, what is this location? Like, what is there to do there, how far is it from Austin, all that kind of stuff.
• 17:45
  Speaker B: So Wimberley is probably about 45 minutes from Austin. This is outside of town on Wimberley, which in Wimberley you cannot short term rent. In city limits you have unless you have a conditional use permit, which is not common. So this is a good location because it's outside of town. But you're still probably less than 10 minutes to Wimberley Square. So. But yeah, and you'll scan out. See, Austin is right up here. So you're about 45 minutes.
• 18:15
  Speaker A: And what's drawing me to the. This Wimberley is there. Are there things to do?
• 18:19
  Speaker B: Yeah, Wimberley's a kind of a little artsy town. It's. They call it Wimberley Square and there's shops and restaurants and wineries and coffee shops all around. It's. It's a little bit like Fredericksburg in that aspect, but a little smaller and more art, like more art galleries. They have different art festivals throughout the year that draw a lot of people in. But it's very charming, Just a very charming, beautiful small town. Very hill countryish. You know, you've got the trees and the hills. It's a pretty area. The landscape is really pretty in that particular area. So it's nice.
• 18:57
  Speaker A: Yeah, like San Marcos, I've been there. And that, that's, that's more of a town, right? Like, like a city almost.
• 19:03
  Speaker B: Right? Yeah. Yeah. San Marcos is a little bit bigger and San Marcos and Wimberley actually butt up right next to each other. Um, they're very close together. But yeah, Wimberley's a little bit more small town feeling than San Marcos.
• 19:18
  Speaker A: Kyle and Buddha, would we consider those more like a suburb?
• 19:22
  Speaker B: Yeah, they're more suburbs. I don't typically recommend them for short term rentals because nobody is searching for Kyle and Buddha. You know, when they're looking for a place to stay. You know, if they're. They're. If people are looking for Austin or they're looking for Wimberley, they may be looking for Dripping Springs, you know, if they're going to a wedding or something there. But Kyle and Buddha, not so much.
• 19:45
  Speaker A: Kyle's more where you. Soccer mom, soccer parents raising kids.
• 19:49
  Speaker B: Yeah, exactly.
• 19:51
  Speaker A: Okay. All right, cool. Anything else? We got a couple more minutes. If there's anything on the screen that we can just dive into, see if anything is worth. Worth a dang.
• 20:04
  Speaker B: Well all since we're. Well, I'll go to a lower price point. So this is a condo in Austin. That's super cute. I've had a lot of people asking about Austin lately, so wanted to share this one. It's just a one bedroom, one bath, but great location on 6th street, so you're really close to all the activities and it's really well done. You know, people. It already has the vibe and people are looking for a very turnkey and
• 20:35
  Speaker A: I can rent there, no problem.
• 20:37
  Speaker B: You can rent this one. Is short term rentable? Yes. Not. Not everywhere is short term rentable. But this particular unit, you can short term rent and your guests would have access to the neighborhood pool. Good. Like I said, really good location level. And it's being midterm rented right now, but it is approved for short term rental home. HOA dues are a little high, 275, and I'm not exactly sure what's included with those, so depends on what's included, whether that's out of, you know, unreasonable or not. But location is great. Close to the river and close to all the nightlife.
• 21:30
  Speaker A: Okay, cool. What else? Anything else on the.
• 21:33
  Speaker B: Let me see. This one. This is a really high end property, but this has actually three houses on it. So it's $1.8 million, which in my opinion is too high. But I did want to share it and it's just outside of Austin. It's in driftwood, but you would get some Austin visitors too, just because of everything that it offers. So it's three houses. The main house is three bedrooms, three bath. There's a two bedroom, one bath and then you have a cabana unit as well. But it's got, you know, some kind of court here. It's got a pool. They do wedding venues here, if you can see. I think there's a better picture. Yeah, they do small wedding venues at the property.
• 22:39
  Speaker A: Wait a minute. What is that? Go back. Hold on. One up a little bit up. What is this? What is this? It's got a hill with a roof.
• 22:46
  Speaker B: Yeah. I'm assuming that's their neighbor. Yeah, a dome. Some kind of a dome house right next door. So depends on how you feel. Feel about that. But very well done. Beautiful.
• 23:01
  Speaker A: Very nice turnkey luxury here.
• 23:04
  Speaker B: Yeah, it's got the full setup. Here's the guest house or that might be the cabana. But multiple streams of income, you know, rent them separately or rent them all together with room to expand. Also theater room. Very cool place. And it's on three acres. It sits on Onion Creek, which, you know, is nice to have a water feature. Onion Creek's a pretty wide creek that survives most droughts and everything that are here. And whoops. Yeah, it looks like it sold in 2023.
• 24:02
  Speaker A: All right, cool. On to the next. Got about six more minutes.
• 24:07
  Speaker B: All right.
• 24:08
  Speaker A: Two or three more.
• 24:09
  Speaker B: All right, let's look at this. We'll look at this place in San Antonio. This is a historic home. Phenomenal location. Really close to some of the tourist attractions and things that are popular with locals. The Pearl. There's something called the Pearl Brewery here, which is a great big, like, open market area with restaurants and bars and they have movies in the park and, you know, old historic hotels. It's a really cool place to go. They have a humongous market days every weekend or farmer's market. And so it's a very happening place. This is a huge house. Seven bedrooms, four baths. Obviously they've painted all the trim, which hurts my heart just a little bit, but.
• 25:04
  Speaker A: Yeah, I agree, but.
• 25:08
  Speaker B: But they've done a good job, you know, on making it appealing for short term rental guests. You know, I didn't. It has a hot tub. Really needs a pool at that price point. This one also has a guest house over the garage. But it's a super cool old neighborhood with all these gigantic old mansions that are just really pretty and just kind of very historic. San Antonio.
• 25:50
  Speaker A: Okay. It's cool. That's definitely up my. Up my. My alley, if you will.
• 25:54
  Speaker B: Yep. The. Oh, this one is super cool too. So this is in a Harper, which is just up the road from Fredericksburg. So I don't typically recommend Harper, but this one has so much opportunity. It's almost would be a destination in its. Because it has four rentals, but you can see like, it's got this little barn. You know, they're all very cool. So like, this would be a cool little wedding, you know, place to have small weddings. It's just super charming and has all kinds of character built into it. That would do really, really well. Even though it's not, you know, it's a little bit further out. Yeah, they've made it very. They've just put a ton of character into it. The open beams and.
• 27:13
  Speaker A: Harper, Texas.
• 27:15
  Speaker B: Yeah, it's just up the road from Fredericksburg. So, again, not a place I normally recommend, but this property is cool. And when you have a destination type of property, it'll do well, you know, almost anywhere you put it. That's why I wanted to pull this one up, because this is a destination type.
• 27:36
  Speaker A: What is the barn right now, do you know? Is it livable?
• 27:40
  Speaker B: I believe so. Let me see if it has.
• 27:42
  Speaker A: Yeah, it looked like some of those photos were inside the barn.
• 27:45
  Speaker B: Right. I think. I'm not 100 sure, but I believe this is inside the barn.
• 27:54
  Speaker A: That is so cool. I would definitely stay there.
• 27:56
  Speaker B: Yeah, it's a neat place.
• 27:58
  Speaker A: The guitar, too.
• 27:59
  Speaker B: Yeah. Yeah. I thought it was a very cool place.
• 28:05
  Speaker A: That rug is super cool. Rugs are underrated for. For something like this. Now, normally, I don't like rugs. They're trip hazard.
• 28:12
  Speaker B: They're Right.
• 28:13
  Speaker A: But when you got a super old property, man, there's some really cool, like, Persian rugs out there that would really tie the room together as.
• 28:21
  Speaker B: Yeah.
• 28:21
  Speaker A: As the big lebowski would say.
• 28:24
  Speaker B: Yeah. 100. Yeah. Some great outdoor space, you know? Could add some amenities, too, to make it even more attractive.
• 28:41
  Speaker A: I love it.
• 28:42
  Speaker B: I thought that was cool.
• 28:43
  Speaker A: Yeah. The barn is so cool.
• 28:51
  Speaker B: I think that was almost everything.
• 28:55
  Speaker A: Okay, cool. Well, it sounds to me like we can find a deal right now. Things are sitting.
• 29:00
  Speaker B: Yeah, 100%.
• 29:02
  Speaker A: I like that. You know, it's.
• 29:05
  Speaker B: Yeah.
• 29:05
  Speaker A: I got a show. I got a virtual showing in about an hour, as a matter of fact. And when I. When I first contacted the list agent. Well, it's a long story. It's in a random town. It's not short term shop. It's not short term rental at all. It's just a personal situation. Basically, the listing agent laughed when we asked if we needed to worry about an offer, and now we have this virtual showing in, like an hour. And now all of a sudden, she's got three other showings today.
• 29:38
  Speaker B: Oh, my gosh. Today.
• 29:42
  Speaker A: You know, so you never know what's.
• 29:44
  Speaker B: Yeah.
• 29:44
  Speaker A: What's going on out there. But I like. I like to hear that it's a little bit slower. It seems like there's that means opportunity.
• 29:51
  Speaker B: Yeah. Well, how do we find you, Stacy? At the short term shop. And obviously on the short term shops webpage is all my contact, you know, my phone number and everything. But yeah, just reach out to me. I'd love to help anybody looking in this area.
• 30:09
  Speaker A: All right, well, we appreciate your time and thank you. From Texas on short term shopping. We'll see you next time.
• 30:16
  Speaker B: Bye.
• 30:17
  Speaker A: Bye.