All Forum Posts by: John Semioli

Hi John,

Most lenders are still able to lend on STR properties, just with a slightly lower LTV than most long-term rentals (5-10% depending on where you go). What LTV were you looking for on your rental? If you have a 12-month history of the property's performance, you may be able to get some wiggle room with more local banks for it.

One thing that may impact the lender's ability to lend could be the Debt Service Coverage Ratio (DSCR), but as long as the property cash flows well then that shouldn't be an issue.

Hey John,

Sounds like the answer would be to utilize a DSCR lender that utilizes either pre-established STR rental income (if you can prove with AirBNB/VRBO statements) or a few that are still UW with AirDNA or a similar STR income projection program.

I am aware of a few still doing it at this time, and if you can show that you know what you are doing you shouldn't see much of a cut in LTV if at all.

Happy to connect and see if we can help.

Good luck!

Hi John, 

You can simply ask an appraiser to give us his opinion on the market rents. If the appraiser gives enough to debt service the loan, you will be allowed up to 75% LTV.

Would need more information to help. Sounds like this is more about your ability to qualify because of claiming depreciation. Possibly? Feel free to reach. STR financing is 100% of my business in all 50 states. We can do conventional loans and DSCR.

So I set up multiple bank accounts in Relay with my EIN number that way all transactions flow through the same account. 

For bills and other expenses I charge them all to a credit card that has good reward points. 

I pay that card every month so it doesn’t accrue any interest that card is paid from the Relay bank account so the expenses are tracked. 

This makes it really easy at Tax time since all of the transactions for a specific property hit one credit card through the year. 

I use Monarch to keep track of all my expenses. 

You can set filters that allow you to narrow down which accounts you are looking at. 

If the different properties correlate with different account it gives you a really clear simple picture. 

I track everything through Monarch personal stuff include because the filters work really good and it gives me a clear financial picture of all my finances as I work towards FI. 

If you like I’d be happy to jump on a call and help you get things set up. 

Monarch is offering 50% off right now with code Mint50 which in my opinion is a steal. 

I’d probably get a new bank. Much lower learning curve and Stessa is great.