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Updated almost 3 years ago on . Most recent reply

User Stats

7
Posts
2
Votes
Dalton Shepherd
  • New to Real Estate
  • Alabama
2
Votes |
7
Posts

100% financing for rookie str investor

Dalton Shepherd
  • New to Real Estate
  • Alabama
Posted

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. 

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