Updated over 5 years ago on . Most recent reply
Business Plan for Vacation Rental
Greetings investors. I'm curious if anyone has ever developed a business plan which outlines the potential vacation rental income for a short term rental and presented it to a lender or fellow investor? Was it successful? Would you be willing to share? Thanks!
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
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#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
@Chris Politylo. doesn't work like that. It's a single family home. It's subject to appraisal. Bank doesn't care about what it will rent for. Unless you need a DTI boost. Then can use projected rent which will be calculated as if it were a LTR at which point you'd be doing an investment loan with 20% down.
Coolest part of STR is 10% second home loan.
UNLESS of course you’re talking 5+ doors on the building. Then its called a hotel and that’s a different conversation.
Where besides bigger pockets can you get an answer like that? Vote button please.