Scaling with STR Income

[Account Closed]

I'm closing on my second STR in January. I have enough capital to put 10%-20% down on a few more next year, which would likely allow me to quit my day job, but I'm worried my DTI might be an issue when trying to obtain financing once I do quit my day job, especially since my "income" will be coming from my STRs and won't be on my tax returns yet. I'd like to avoid HML but seems like this might be my only option. Any guidance would be much appreciated!

[Benjamin Vail]

@Account Closed - Let me solve all of your problems with 2 words: Host Financial. This is a lender I have used, and am using right now. They finance the deal based only on the projected income of the property as an STR. If the AIrDNA projected income meets the DSCR of 1.2, you should be good to finance almost any deal. They do require 20% - 25% down, so save up. I am working on loan #3 and #4 with them right now. They are currently quoting at 5% interest rates, on 30 year fixed. Better than hard money, not as good as traditional financing.