I'm just trying to figure out my investmen strategy. I'm interested in the BRRRR method - from what I learner, you refinance a rehabbed property after holding it & renting it out for 6 months, and showing the rental agreement with your tenant.
Now, can I do this step with STR like Airbnb instead of a long term tenant? If I can show a couple months of revenue from Airbnb, will I have success getting that property refinanced and pull some money out? The revenue will of course differ a lot month by month, so has anyone tried this, and what kind of issues did you run into?
I know people who have done this! It may take going to a few banks but you can refinance a property as a STR, just need to show a track record of meeting a baseline income. This may not be true for all banks, but I have inquired with a few local ones who DID do this...