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Updated about 4 years ago,
Multifamily air bnb refi
Hi BP!
Looking to purchase a multi family in Northern California with mostly private money and do mixed long term and vacation rental. Let's call it a hybrid BRRRBNB. The private money would be Interest only and would be looking to refi to traditional financing after the rehab to get our money out and get a better rate. I am worried the lender might not take vacation rental income or require a long period of time to prove it. Has anyone done a deal like this?
Thanks! Tim