All Forum Posts by: Carl Mccrory

Thanks everybody for the replies and info. Good to know there are more options available.

So in David Green's book "BRRRR" he mentions that banks will let you refi after 4-6 months. I have seen lenders that do the 6 mo refi, but haven't seen the 4 month at all. I am prepared to keep reaching out to as many as I need to, but I just wanted to see if anyone else has been able to refi at 4 months. thanks.

I think he already has used the VA loan on a separate property, could he still use the VA streamline refi for this deal?

Hey BP need some advice on lending. I have a friend who just completed a BRR and is getting stuck at the Refinance part. He will be shortly leaving a high pay stable job (military pilot) for a low paying (40k/yr) job and it looks like this transition might be preventing him from qualifying for a cash out refi.

I am about a year out from possibly doing the same career transition and am looking to acquire my first rehab for a BRRRR- do most conventional lenders look at your near future career position for lending or just your present and past? If so, how far into the future would they base their decision on (6 months - a year?)

If this is an issue, how long after moving to a new career would lenders be likely to give financing?

Thanks in advance

I would love to be a part of this. Currently have 5 long term rental units, looking to shift towards the STR market.

gotcha. thanks for the tip

Hey BP,

I am interested in the Palm Springs, CA market for short term vacation rental investing. The revenues look promising from research on Everbooked, Airdna, and Mashvisor. However, the regulations in the area for vacation rentals seem stringent and prohibitive to operating a full time Airbnb. For example there is a rule about a limit of 36 guests per year in your vacation rental. Is this a rule that is not enforced or is there a way around it? Obviously people are operating Airbnb/VR in the area that exceed this limit. Just wondering what strategies people are using to deal with the regulations in Palm Springs. 

Thanks

thanks for the replies from everyone. good info. Obviously need to take the data with a grain of salt, but it's good to know that these are useful tools to make some market research decisions. 

Thanks for the input everybody. It's nice to get some different perspectives on it.

Hey BP. How accurate are short term vacation rental market research tools such as AirDNA, Everbooked, Mashvisor?

I am looking at Destin, FL and these sites are putting out numbers for a 2/2 condo as generating 40-50k in revenue a year on AirBNB. It will then show similar listings nearby with revenues they have made in the similar range (40-50k). Is this legit? Besides the variables of how well an Airbnb listing can do based on reviews, am i missing anything here?