Updated about 3 years ago on . Most recent reply
100% financing possible for str?
Hello all,
I am trying to figure out a way to get this deal done and what my best options are for financing with $0 down, sub-par credit, and being a first-year independent contractor. I realize I have a lot working against me and that this is a huge ask, just trying to see what my options are. The details are:
STR $440k purchase price
Annual Rev: $208.8K ADR: $773 Occupancy: 74% Net Operating Income: $161k Cap rate: 33.85%
All details are from AIRDNA with taxes, insurance, maintenance, capex, utilities, hoa, furnishing, and closing costs added.
At super conservative numbers: ADR: $500 Occupancy: 70% Cap rate: 19.7%
Also, I personally believe that occupancy will closer to 80% but went with lower rate for conservativeness.