All Forum Posts by: Aaron Eisenberg

It's the same field and same line of work, just a different position, in a full-time w2'd fashion.  All in the film industry

Hey y'all,  

To clarify, I'm currently self-employed, but I'm switching over to a salaried W2 position.  I don't want to qualify using my self employment, I want to qualify with the new upcoming job.  This is for a primary residence.  

Hey y’all,

I’m buying a home around Hunterdon County, NJ, and starting a new full-time W-2 job in about 45 days. I’ve got excellent credit,  and a signed offer letter/contract for the new role.

I own two other properties and have been self-employed this past year, so while I’ve been through the mortgage process before (when I wasn't self-employed), I’ve never done it without paystubs. I’d like to close before the job starts and qualify based on the offer letter, credit, and assets — without needing income history or a first paycheck.

Has anyone here successfully closed under similar circumstances?

• What lender or broker did you use?

• What conditions were required? (e.g., non-contingent letter, reserves, etc.)

• Did you need to start the job before closing, or was the offer letter enough?

Looking to compare lenders/brokers and would love any specific recommendations, strategies, or red flags to watch out for.

Appreciate the help!

— Aaron

Hey y'all,

We've got a house in Park Circle, North Charleston that has been a successful Airbnb for the last 3 years. We've got the last of the permits in this area (they've capped them now), and we're looking to sell the home to free up some cash for a primary home purchase. The home doesn't make sense strictly as a STR investment as the margins become too thin with current rates & new taxes post-purchase, but I'm optimistic it's a great investment long-term, and could make a ton of sense for someone interested in having a primary they can airbnb, or a 2nd home. The permit is held in an LLC that we would also sell (have confirmed with two real estate lawyers this would work to keep the permit)

4br/2.5 bath. 2040 sqft. Market Value 630K

https://www.airbnb.com/rooms/836992065410993353?guests=1&adults=1&s=67&unique_share_id=64599608-0640-472f-970e-d1322cb67340

Gross Income: 57 - 60K annually

Average Annual Net Profit: 22K

Mortgage Loan Balance: $331,181.87

Mortgage Tax, & Insurance Payment: $2,079.46/month

HOA: $71/month.

Landscaping average: $125/month

Average Cleaning Spend: $275/month

Pardee HVAC: $211.46

Pardee is a financing deal that includes free service whenever anything goes wrong. We've found it worth the money in this city with the heat. We've had issues and they show up night or day any day and take care of it for the guest - it's been a major headache resolver for us. If you're not interested in this, I can find out the pay off balance.

Hey y'all,

We've got a house in Park Circle, North Charleston that has been a successful Airbnb for the last 3 years. We've got the last of the permits in this area (they've capped them now with a 4+ year waitlist), and we're looking to sell the home to free up some cash for a primary home purchase. Is anyone aware of ways the permit can transfer with the home? We're exploring selling the LLC that holds the permit & the deed, or seller financing so that less changes occur in the sale. In a seller-financing deal, we'd need to be bought out of our equity (300K), and then we could work out a mutually beneficial rate. Open to creative structure ideas if you have any.

The home is a completely turnkey Airbnb, fully furnished, supplied, & decorated by an Interior Designer.This has been a great investment for us, and I'd love to pay it forward to another investor now that we're leaving. If you've got other creative ideas of how to structure, let's talk. Below are the #s & details:

4br/2.5 bath. 2040 sqft. Market Value 625K

https://www.airbnb.com/rooms/836992065410993353?guests=1...

Gross Income: 57 - 60K annually

Loan Balance: $331,181.87

Current Mortgage Tax, & Insurance Payment: $2,079.46/month

HOA (HOA is aware of & find with STR): $71/month

.Landscaping average: $125/month

Average Cleaning Spend: $275/month

Pest Control: $75/month

Pardee HVAC: $211.46/month

Pardee is a financing deal that includes free service whenever anything goes wrong. We've found it worth the money in this city with the heat. We've had issues and they show up night or day any day and take care of it for the guest - it's been a major headache resolver for us. If you're not interested in this, I can find out the pay off balance.

Great!

Hey all, 

Would love to speak with airbnb management companies here in Charlotte.  We've got a place that I think could do very well, & would love tos tart exploring options.  Thanks!