Refinancing with Airbnb Income

[Craig Gerulski]

Hello Fellow BP Members!

With interest rates hitting historically low levels, I am trying to refinance 2 of my properties. I have 3 homes on Airbnb and need to use that income to offset the mortgages, for my debt to income ratio.  I also have an engineering W2 job.  Any recommendations on lenders in the Nashville or San Diego area that can use 1 year of airbnb income on my tax return to qualify me?  Also, could I switch over to a long term lease to qualify, even though I used my Airbnb income on my 2020 schedule E?

Thanks in advance!

[Myka Artis]

There's a short-term rental refinance company called Kram capital you can look into them and they will allow that Airbnb income to be used to offset your DTI.

In the future lease your Airbnb properties to an LLC and let the LLC run the short-term rental operation. This then opens you up to multiple banks because they are now looking at leases instead of Airbnb income.

Good luck with your investing.