Finding STR's that work with a mortgage
Hey, hive mind.
I'm a flipper who's not having a great time flipping. I'd really like to get into STR's and I'm trying to figure out how people find STR's that work even with a mortgage. Is this a situation where you need to BRRRR them for them to work or am I missing something? I'm in Memphis so I'd like my first couple to be local while I learn the ropes, but I'm down to buy anywhere. Any tips or groups I should join? I'm reading some books but I'd like to hear from some people with hands on experience.
Most Popular Reply
Hey Jon - you can just use a DSCR loan for them. You can BRRRR a STR (AirBnBRRRR) or just buy one as an acquisition. You would just qualify the deal with AirDNA projected income or use a STR1007 to qualify. They're pretty easy, and honestly even easier than LTR acquisitions since you are not reliant on the appraised market rent (when using AirDNA to qualify).