How to Qualify for a Vacation Home Loan

[Christian Canavarro]

Hi BP Family,

My partner and I just had to back out of a deal on an STR in Vermont because we were unable to secure 90% LTV with a conventional lender. Since a 10% down payment is obviously the key to unlocking the full potential of investing in STR's and scaling the business, I'm hoping someone can shed some light on how they were able to execute on those loans.

I don't understand how you can start out with this investing strategy without having enough personal income to cover a second mortgage? Am I missing something here? Lenders won't consider any projected STR revenue to qualify the property because it's intended for personal use, right??

Thanks,

Christian