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Jesse Imes's profile image
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Jesse Imes
  • Investor
  • from North Tonawanda, NY
  • Member since Jul 24, 2015

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Jesse Imes's profile image
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Jesse Imes
  • Investor
  • from North Tonawanda, NY
  • Member since Jul 24, 2015
Jesse Imes
  • Investor
  • North Tonawanda, NY
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Commercial Lending for Short Term Rentals

Jesse Imes
  • Investor
  • North Tonawanda, NY
Posted

Hi!

Currently looking for a lender that will do a portfolio commercial refinance on a group of STRs. They are all 2 units or single family homes. Income is amazing. Looking for income based approach to get the best value.


Let me know!

Thanks!

Jesse

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Robin Simon
Robin Simon
#1 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
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Robin Simon
#1 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied
Quote from @Jesse Imes:

Hi!

Currently looking for a lender that will do a portfolio commercial refinance on a group of STRs. They are all 2 units or single family homes. Income is amazing. Looking for income based approach to get the best value.


Let me know!

Thanks!

Jesse


This is going to be extremely if not impossible to find - outside of generally Bank business loans or other SBA type financing, all STR real estate loans for 1-2 unit properties are going to be based on resi comps for value not the income approach. You still should be able to get 75% or 80% (if no cashout) on the LTVs with normal DSCR loans - but I wouldn't count on an income approach valuation anywhere

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