Workaround to financing

[Britt Smith]

Guys, I've been hearing/reading people are having trouble financing their short-term/airbnb rentals because the banks will not use the income due to inconsistency. Now maybe I am oversimplifying this but IF and ONLY IF you own the home in your legal name, couldn't your LLC simply lease the home from you? Now obviously you'd need to be able to show payments from the LLC to you but this is totally doable..right? Am I missing something here?

[Andrew Street]

A good lender is someone who works with investors on a frequent basis, they are at real estate meetups and provide many options to you. When it comes to Airbnb income, if you're able to have the income recorded on your schedule E of your taxes as rental income, then that's great and is the best case scenario. If you do fall under the category of 1099-income through Airbnb classifying you as such, the lender will want two years of tax returns to prove the income is consistent. Either way, it's not impossible to get the lending, just may take a little bit longer in some cases. No financial expert, but i hope this helps.