All Forum Posts by: Jordan Spoerri

@Cassi Justiz Thanks for the info. I am sure i would not be able to get financed by switching to the 1099 job. But i was wondering if there were creative ways to finance the purchase. Since it has taken so long to get permits, my realtor said if the house was completed and you decided to list it I could list it for 250k more than what I am paying for it. That is where I am trying to figure out. I am not wanting to lose out on the equity but really wanting to get out of the situation I am in. I have thought about bringing in someone into the deal to back the lending and split the STR but I ultimately would like it under my name.

I am under contract for a new construction short term rental property and have been under contract since Feb. They have not started construction since there have been some permitting issues with the land. I was planning on financing it once it was complete. The current job I have has become toxic over the last 6 months and I have been offerend an opportunity to start my own business from family ( kind of like a franchise of a business they already are doing) which will then put me not as a W2 worker and I dont think I would qualify for the home. I am kind of stuck with what to do and how I would go about still being able to get financing once the home is complete if I do not have a W2 job but a 1099 job. What would you recommend I do in order to get out of the toxic situation I am in and still be able to get the house 6 months from now. 

@Ivan May Yeah I feel like there are some great markets but some are more expensive to get into. I will have to continue to look into Florida. I have a long term rental in Nashville area but that market has changed and is spiked to where unless you are doing a BRRR it is hard to cashflow. I am looking into San Antonio TX for long term rentals right now but also open to any more STR markets I may be over looking.

I am currently under contract on a STR in CA but looking for other areas to invest in. I am looking to stay under the 300k mark for the next property. Anyone have any places I should look into?

I know you can just google search the city and if Airbnb is legal or not and usually on Airbnb they have all the details. 

@Kevin Ross I have looked into that market and was worried with how things are current state of the world. How big of a hole did you buy and what kind of occupancy are you seeing?