All Forum Posts by: Bryan Martinez

Hey Andrew, you can look at ACRA Lending or First Equity Funding. I can also price it out for you. 

Hey Jimmy, Visio Lending is a good option for STR's in AZ. I worked there for about 5 years previously. If you haven't spoken with anyone there before I can send you my buddy's number who is still there.

it is doable, but it depends on how rural. Is it rural, but within and hour or so of a bigger city? Their are a lot of factors that can make it or break it. Every lender is different and flexible in their own ways. Happy to chat or if you provide more info here maybe I can point you to the right lender. 

Are you looking to do them on a portfolio loan or all on individual loans? 

You can call them and ask them what the shortage is and just pay that upfront so there is no longer a shortage. If you do that, they can adjust your escrows back to normal. 

Chis Had a good point, some have a minimum  3-6 month interest charge. Always good to ask your lender. Always ask questions, lots of them. I invest myself and I lend. So I know both sides. Always happy to help or point you in the right  direction if you ever want to chat. 

As soon as your refi or sell it, you will not pay any more interest at that point. 

Hey Steven, that type of setup is pretty tough to find. You might be able to find a community bank or credit union willing to do it. I have a HELOC on my rental, I got it with a local credit union. They had to get approval to do it though since it was outside of their normal guidelines. We are supposedly getting that option at the end of this month. If you shoot me your contact info I can let you know once it rolls out.

Jay is right, back in the 1990's they were over 14%. The creative financing you are talking about will only come from an individual sitting on cash, and they would probably have to know you pretty well to be willing to do that. You might be better off going to meet ups and trying to find someone to buy into the deal with you, someone with money that wants to get into a turn key STR. It doesn't free up all your money, but it can help. Creative financing is more about making the numbers work the way you need them too, not getting the best deals out there. Lenders have to sell or securitize your loans on the backend to stay profitable. It is the secondary market investors that are truly determining what is happening. There were a lot of lenders that went out of business last year because they kept underwriting loans with rates to loan. By the time they went to sell or securitize they were losing money hand over fist.