Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago, 09/12/2018

User Stats

12
Posts
28
Votes
Caleb Culver
  • Rental Property Investor
  • Kalamazoo, MI
28
Votes |
12
Posts

Time period required to prove income for STR v long term rental

Caleb Culver
  • Rental Property Investor
  • Kalamazoo, MI
Posted

After 6 months of study and research and lots of hanging out on the BP website, I just recently landed a deal that I intend to be my first BRRRR property! I can talk about that deal later for those who are interested.

One question that has come up as I begin the rehab process is about how long will banks or loan officers require consistent rental income for short term rental until they'll approve a refi? I know most banks are 6-12 months for traditional long term rentals, but I've yet to find consistent or helpful answers about short term rental income. Anyone have any helpful information? 

*Edit* I'm aware of how many investors are not keen on short term rentals. I'm not necessarily planning on staying in the short term rental game long term, but our market is under-saturated with STR and since I bought the house with cash, now would be a great time to experiment with how I like STR and if I want to consider doing some STR's with some future BRRRR properties.