January 9

How To Finance a Short Term Rental

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On this episode of the Investor Financing Podcast, Beau talked about the fundamentals to finance a short term rental property.

Timestamps

[00:12] How to finance a short-term rental property

[00:36] We finance straight investment deals

[00:40] Anything that’s non-owner occupied strictly for businesses is what we talked about on the show

[00:51] Sometimes, a second home purchase might be more advantageous

[01:05] Mostly, we talk about DSCR loans

[01:20] What are short-term rental properties?

[01:45] What would this rent be for as a long-term rental?

[02:09] Most DCSR lenders only use the rental survey information

[02:18] There are lenders geared toward making short-term rental loans who use the AirDNA algorithm

[02:36] “Long-term rents will just never qualify you”

[03:06] Size up the deal

[03:23] Projection-based loans and asset-based loans

[03:34] Flex bridge loan program, a two-year term interest-only payments

[03:47] Rates and terms are based on credit score and loan to value

[04:37] Do a two-year stabilized bridge loan if you don’t want to get trapped into a three or five-year pre-payment penalty

[05:04] Fix and flip loan as another option

[05:23] Feel free to book a call at http://bookwithbeau.com/


Tags

commercial loans, creative financing, hard money, real estate, real estate investing


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