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Updated over 3 years ago on . Most recent reply

User Stats

10
Posts
3
Votes
Alex Deal
  • Real Estate Agent
  • Alabama
3
Votes |
10
Posts

How to finance a STR?

Alex Deal
  • Real Estate Agent
  • Alabama
Posted

Looking at a current STR in a college town that i would like to purchase for my kids to live in as they go to college. When they are not living there, i would like to AirBnb. It is currently a STR and rents from 100 to as high as 825 a night on game weekends. Assuming it doesn't appraise for that amount, what are my options- can you use rental income to help appraise for a residential loan (I don't think so). Does that mean I'd have to get commercial, and could I rent to myself if i got it as a commercial loan? Thanks for any advice...

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