All Forum Posts by: David Rutledge

Thanks Andrew, I figured this would be the place to post since it is relating to lending. 

Reason for the exploration into the new assets has to do with just wanting to expand our str business. 

Str has done really well for us so getting into the small (boutique) hotel space seems like the natural next step 

Hi everyone, 

My wife and I have built up a portfolio of 14 strs over the past few years. We have some capital and are looking to possibly purchase a small hotel. 

We have only ever bought residential sfr with conventional financing so commercial lending is totally new to us. 

We are looking to put as little down as possible to stretch our capital as much as possible. Ideally 10% down. I’m thinking that an SBA loan would be our best bet but I am not sure. 

Can anyone shed some light on what kind of down payment, terms and qualification requirements we would typically be looking at for an SBA or low down commercial loan? 

Also as I understand it qualification for these loans are based on the property as opposed to the borrower. So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well. 

Any insight into the kind of options we may have for something like this and how qualification for a small hotel differs from residential conventional loans would be extremely helpful. 

Thanks in advance.

David Rutledge 

Hi there, I’m looking forward to this event but I cannot find anything about this online. 

Can you confirm this is going ahead as planned?

thanks so much! 

 This is incredibly helpful Bob. Thank you so much!!

Hi Lauren,

Thank you I appreciate that.

Hi all,

I am looking to purchase an investment property in the Tempe area. I am looking for either a small multi or a sfr with a guest house as I am looking to set it up as a short term rental.

I have lived in Tucson and spent some time in Tempe but do not know the specific areas well. I was hoping some experienced investors and/or agents in the area may be able to give me an idea of specific areas of Tempe I may want to focus on and if there are any areas with higher crime, poverty that may not be as attractive as an investment or str?

The appeal of ASU is the major thing that draws me to the area but as I research more it seems areas closer to the university may be less desirable than perhaps newer areas in the south of Tempe? and staying in the middle of the city instead of far east or west may be best as far as I can tell from reading other posts.

What about the area north of the lake?

Any type of guidance and/or suggestions would be highly appreciated as I try to focus in on a particular area of Tempe to buy in.

Thanks in advance everyone.

David 

 Thanks very much Dustin.

Hi everyone,

I was hoping to get some insight from others who may have experience with ADU permitting in CA.

My plan is to purchase a home with a lay out that lends itself to an ADU conversion of part of the existing home and then use it as a short term rental. The issue I seem to be having with this strategy is that most municipalities do not allow an ADU to be used as a short term rental.

I am very much a novice with the idea of converting part of a home to an ADU so please forgive me if this is a silly question but it seems in order for me to str an ADU my only option would be to not actually convert it into an official ADU but rather section off the space and not include a kitchen.

Am I correct in assuming that if this were the case I would not need an ADU permit and therefore not be bound to any laws preventing the use of any part of home as an str (with the exception of local str laws of course)

Thanks so much for your time and any advice on this.

David 
 

 Thanks so much Grant. I would love to connect with them. Could you connect me with Craig or Carissa?

 Very interesting about Denver. It seems they are one of the more aggressive cities in terms of enforcing str regulations which is quite the opposite to most cities it seems.