Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
Private Lending & Conventional Mortgage Advice
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 2 years ago on . Most recent reply

User Stats

7
Posts
2
Votes
Dalton Shepherd
  • New to Real Estate
  • Alabama
2
Votes |
7
Posts

100% financing possible for str?

Dalton Shepherd
  • New to Real Estate
  • Alabama
Posted

Hello all,
I am trying to figure out a way to get this deal done and what my best options are for financing with $0 down, sub-par credit, and being a first-year independent contractor. I realize I have a lot working against me and that this is a huge ask, just trying to see what my options are. The details are:

STR $440k purchase price

Annual Rev: $208.8K     ADR: $773    Occupancy: 74%    Net Operating Income: $161k      Cap rate: 33.85%

All details are from AIRDNA with taxes, insurance, maintenance, capex, utilities, hoa, furnishing, and closing costs added.

At super conservative numbers:  ADR: $500     Occupancy: 70%      Cap rate: 19.7% 

Also, I personally believe that occupancy will closer to 80% but went with lower rate for conservativeness. 

Loading replies...