All Forum Posts by: Alexander Kistler

Hi Yasser! I have experience operating and managing STR in Indianapolis! Feel free to DM me with any specific questions you have about STRs in the area - I'd be happy to help if I can.

Investment Info:

Single-family residence buy & hold investment in Indianapolis.

Purchase price: $202,000
Cash invested: $20,200

3/2 Single-Family STR Metro

Hey Randy! I’ve been going through the exact same thing. It was my first impression that it would be better to go the route of one loan per spouse.

However after talking with several lenders, they convinced me it probably wouldn’t help us to do the loans as individuals.

The reason being is that we already share a mortgage on our primary residence and if we were to do a loan as an individual - that individual's income would have to be able to cover the entire existing mortgage as well as the new loan for the STR. In our situation, this was going to be too high of a DTI to get approval for a new loan. But together we were approved.

If you both are high earners with not much existing debt, maybe it works?

You could also bring someone else in to partner with that could help carry the loan.

I did want to point out that there are specific criteria for qualifying for a second home loan. You said you wanted to buy in your state, so just make sure you are looking (I think at least 50 mi) away from your primary residence. 

Hi @Gloria N Gear I will keep an eye out for your contact in my DM. Thank you!

Thank you @Gabe Sasser !

Hello All!

My wife and I are in search of a realtor in the Indianapolis area with experience working with Indy investors. Any help or direction is greatly appreciated!

Thank you,

Alex