Private finance for unicorn short term rental?
What are the best ways to secure $70k - $90K to add a new well documented high ROI Short term rental?
Owner has two units with financial history in the same building. ROI over three years is 150%
Any recomendations of lenders would be greatly appreciated.
Hi Chris,
What kind of financing are you looking for - short term bridge loan or a rental loan?
Happy to discuss.
Ko - I'd be interested in a rental loan for a STR as well. Know any good lenders?
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
You should add your location to your profile and the property location to your post. That way local experts can weigh in. You’ll also want to research the building and see if it’s disqualified from traditional financing. (Too many rentals.)
After that I'd look for any equity in properties I already owned for a HELOC and I'd reach out to other owners in the building and see who they used for financing. Ask the seller if they'd carry the balance at least short term, say 5 years? Worst case use all the cash flow to pay it off in that time. Good luck.