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.
Creative Real Estate Financing
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 almost 3 years ago on . Most recent reply

User Stats

107
Posts
26
Votes
Daniel Pitner
  • Realtor
  • Peoria, AZ
26
Votes |
107
Posts

Construction Loan/ projected income

Daniel Pitner
  • Realtor
  • Peoria, AZ
Posted

I’m hoping somebody can help me solve this financing puzzle. Here’s the situation:

1) we currently own two profitable airbnbs 
2)live in a primary residence we want to turn into an Airbnb but this property does not produce income

3) have a piece of land we want to build on

we need a lender who can qualify us for a construction loan based on the projected Airbnb income of our primary residence. In my mind this should be easy for an underwriter because our other Airbnb property is 9 houses down and the same model house. 

is it possible to find a lender who will qualify us based on our current house being turned into an Airbnb? We cannot qualify without this projected income so we’d have to sell the home to qualify. 

Loading replies...