Quote:
Originally Posted by zrx299
The building itself looks great, but I wonder what kind of "buyer" this is going to actually attract? My guess is these units will be mostly corporate/institutional investor owned.
Since it seems most self-respecting and higher end condo towers hate the idea of renters and AirBnB types.
I also can't imagine anyone making this their primary residence, given the potential to such transient activity literally right down the hall from them and the proximity to Rainey (You're in the middle of the work week, but your 'neighbors' are 4 girls from Ohio here on a girls/bachelorette vacation, or loud international tourists who don't even know what day it is since this is their 7th stop on their world tour bender of the USA...)
It will be very interesting to see where this kind of building ownership model goes in the near future once it matures...
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Well, the lawsuit may burst my bubble, but as a FYI. I have a 2br under contract. I live rural on Lake Travis, but the wife and I (and early 20yr old children) love downtown. We have a unit at 5th & West that we use on many weekends, but we can't do STR with it, so feels like a bit of a waste of $. Wanted the Natiivo unit so that I can still use it often, but rent out as possible. (By the way, too quiet at 5th & W, prefer a little more activity that Natiivo may provide since we don't live there all the time)
My plan was to let the Hotel manage my unit initially and see how it goes cash flow wise, but if too slow, I may go on my own and be more competitive to keep it active.
So, initial thought losing Airbnb makes me nervous, but having other options may be ok. We'll see.
I'll rent 5th&W long term once this one is ready, plus I have a 44 East unit under contract to rent long term as well.