Funding for an Airbnb

[Richard Pallarino]

Hi BP Fam! My brothers and I are trying to buy an Airbnb in Florida. We keep getting stuck as we have the cash to put 10% down plus closing costs and 6 months worth of reserves. However, we don’t have it in one account and each lender keeps telling us we need to have $16K from each person as a gift, but it's just 3 of us and we need $140K which exceeds our $16K per 3 people gift limit. My question is, how do we get the money in one account to qualify for a 10% down payment as a second home for the Airbnb property?

Thanks,

Rich