All Forum Posts by: Andrea Cole

But if my W2 income covers both my primary and investment property mortgages and other debt at a DTI below 43% then we could potentially refi, correct?

@Chris Mason The math on that was EXTREMELY helpful. Thank you. The whole LT vs. ST rental refi process makes much more sense now. 

I don't know if I can or can't, although I know most banks ask for a signed lease agreement as part of the qualification process, which obviously we won't have.

I'm just looking for input from someone that has tried so I can be educated going into a discussion with a loan officer. There's tons of info on what to expect when you BRRRR but none on BRRRR'ing with ST rentals.

Hi! My husband and I just closed on our first investment property last month, a duplex in High Point, NC. We're currently rehabbing it and hope to have it complete by the end of November. Since we're in an area that gets some decent traveler traffic, we're hoping to AirBnB instead of rent it. However, we'd like to BRRRR and pull our money out at the 6/12 month mark. Has anyone been successful in doing this? I feel like we're entering uncharted territory and I'm trying to prepare our game plan, which is difficult with very little refi info available.

TIA!

Andrea Cole

@Ryan M.

How did this go for you? My husband and I are actually entering into a similar scenario in High Point. We're buying our first duplex, rehabbing, and then I'd like to AirBnB but I'm not sure how refi will go.

Hello! My husband and I have our first duplex under contract in High Point, NC. We're putting some rehab budgets in place and in doing so, we've come to the question--do we rent both sides or rent one and AirBnB the other? The numbers work renting both units (a 2Bdr/1 Ba and 3 Bdr/1 Ba) but with High Point Furniture Market and various universities in the area, my research shows we could make the property work harder by AirBnB'ing the 3 Bdr. 

Does anyone currently AirBnB'ing a property in our area have any insight? Also, can anyone speak to their experience renting one side of a duplex and AirBnb'ing the other?

Thanks!

Andrea