All Forum Posts by: Ray Williams

You can absolutely find STR DSCR loans. There are variables that will determine if they will use the AirDnA data, and really it comes down to the ability of an appraiser to find STR comps. But yes, you can.

That is a  big and wide topic. Depends. When did you enter, what type of property, what is the goal, where would you place the gains, what are taxable events associated with the exit, and more. 

Sounds interesting, but random that it falls on my Bday so I will have to watch for the next. I did learn about a loophole in Denver zoning from the zoning chief though. 

Check out Figure. We do HELOCs as well. 

I researched this. The cost wasn't my concern. But if you allow tenants to have pets it is not maintenance free and needs to be cleaned/sprayed down etc. I think also, depending on how hot it is there it could be a + or - as I believe it absorbs heat as well. Read up though. I think like anything else to some it will be seen as a + and to others a - , but you are the owner so think of it from the business side. GL!

Read Unreasonable Hospitality (Guidara), and let your imagination run wild. It will take time, but I am going to implement in already high performing homes, to honestly destroy competition. The motel 6 days of STR are gone.

I'll stay away from tax advice. Although a recent learn I had was relating to the LLC and thoughts toward insurability. So often people will want to do an umbrella policy for risk. Getting an umbrella on an LLC is challenging/expensive. What I did on my last STR acq was to increase liability to $1M (PP was ballpark). A few additional savings hacks I layered w insurance, was to move deductible up and find break even sweet spot on annual premium. Not an insurance guy, rather a mortgage broker owner always leveling up.

There is a difference between a loan officer from a credit union, and that of a retail inside loan officer like Pennymac. With each of those, the institution may pose their own overlays to FHA guidelines. You will want a lender that works directly off the FHA guidelines. This could matter depending on your financial situation. Layer in any aspects of buying anything that may involve an ADU or you float up to FHA 2-4 and separation will happen with experienced lenders. One inside share I can offer is banks (credit unions as well) and servicers (ie. PennyMac) pull in substantial revenue from their government mortgages. Not sure any of this is important to you, but whoever you work with will be responsible for putting you in the single largest piece of debt likely you have. Best of luck

I get it. Maybe think of the fact that if you put all those properties in an LLC, you'll have a heck of a time getting an umbrella policy so you'll have exposure. If it is vested under an LLC I believe you can get $1MM liability to help offset. But sounds like your insurance agent is due for a call. Maybe talk to your attorney, and for sure don't forget to think about a liability waiver with that pool.