Refinancing 1st and Buying 2nd Property Simultaneously

[Anna Bielawski]

Hello BP!

I'm relatively new to real estate and have been trying to research what impact there would be from performing a cash out refinance on one property while at the same time attempting to secure financing for a second investment property loan. The first property is a duplex (and primary residence) used for short term rentals, which are providing a relatively significant return. I've recently learned of a few lenders that will accept the proof of income provided by Airbnb to use towards financing or refinancing a deal, and plan to speak with the one that works in my market.

At the same time, I'm interested in purchasing a second property, another duplex, which would be used for traditional LTR. This property has the potential for a pretty solid ROI, but not on the same level as the STR property. This neighborhood is more up and coming and I believe is better suited for the LTR (rent prices already meet the 1% rule and increasing) with potential to provide more return for STRs in a few years.

In essence, my question is centered around how these two separate transactions would impact the other's success with hard money lending? If I were to work with the refinance lender recognizing STR income and a different lender for the next investment property, would either transaction put the other in jeopardy? Especially considering that each lender would be able to count the income/potential income from that investment? Or, would it be wiser to work with one lender for both transactions?

This may be a very easy answer but, again, I'm new here.

Thank you!

Anna