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Updated almost 2 years ago,

User Stats

55
Posts
23
Votes
Mark Huneycutt
  • Investor
  • Asheville
23
Votes |
55
Posts

Seller Financing my Airbnb in order to retain STR Permit

Mark Huneycutt
  • Investor
  • Asheville
Posted

I have a successful Airbnb in Nashville that I have been trying to sell for over 4 months now. The problem is that I have a STR permit I have to renew every year but I am grandfathered in to the laws from 2019 when I started it. Due to changed County laws, as soon as I sell it, I cannot transfer the permit to the new owner and they can't get a STR permit so they can only Airbnb for a timeframe of 30+ days. This makes it harder to pitch as a successful airbnb although it grossed $88,160 so far this year. I spoke with someone about a quitclaim and seller financing it in order to continue the permit in my name. Does anyone have any knowledge on this process?

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