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Updated almost 3 years ago on . Most recent reply

Single-wide trailer doing good money on Airbnb
Background: I paid $370k for a 4bdr 2 ba in April of 2021 and got THE last short-term rental permit in the city. My mortgage is 1,700 per month and YOY I just did 54k (May 21' to May 22') in total revenue. My home is now worth $500k+ as real property and with the value added by the STR permit, probably worth $600k+ based on comps and my local realtor(great small market+highly regulated by city).
A for sale by owner just came up that really interests me. Very nice 900 sqft single-wide trailer on .15 acres that also has a STR permit that is transferable to the new owner. My first thought was, dang, it's a trailer. Then I got the P&L sheet from the current owner and it is doing 37k between Airbnb and VRBO! It is listed at $265k. Numbers all work out. The question I have is, how would you finance this? Any chance this appraises/will the appraisal take into account their previous rental income?
Would love some advice from the community as this will only be my 2nd STR purchase!
Most Popular Reply

first thing that everyone says is they are hard to get financing for but they never say unless you know where to look
21st century mortgage, Vanderbilt mortgage are 2 that I know of I'm sure there are many more, mobile homes are all we do and I'm sure you would do great with this one
good luck @Cody Dastrup