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41
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31
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Stewart Wyne
  • Rental Property Investor
  • Atlanta, GA
31
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41
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Airbnb / Short Term rental income: Problem for Bank Financing

Stewart Wyne
  • Rental Property Investor
  • Atlanta, GA
Posted

I've recently started short term renting properties in Altanta, but I am now running into problems getting financing for more units because traditional mortgage underwriting isn't recognizing my short term rental income from Airbnb or Homeaway. Even though my properties are all profitable with 1-2 years of history. My DTI ratios are all out of wack now without that revenue.

I'm trying to avoid hard money or private mortgages due to the high interest rates. Anyone else have this problem? Any suggestions? 

Do I need to move to small business loans, rather than traditional mortgages? Anyone know a finance company that has adapted to this business model? 

Thanks

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