BRRRR Strategy with STR

[Michael Mignogno]

Hi Everyone,

I am somewhat newer to Bigger Pockets, so forgive me if this post has already been made. I was interested to get some feedback on BRRRR with the intentions of using the property as a STR. Also, when planning to finance these deals with either HML or OPM, any good pointers? Do you prefer HML or OPM? I am currently searching for deals in Western Florida around Tampa/Sarasota region.

TIA!

[Sean Thompson]

I would start with the end in mind if you are wanting to BRRRR with STR properties. Find the company that you will be looking to do the cash out refinance with first. Find out their requirements, limitations, and leverage options. Then work your way into how you would like to initially finance the property. This will help paint a picture of what kind of deal you need and estimate project timelines a little better.