Podcast: Download (Duration: 6:25 — 2.0MB)
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/