BRRRR financing for an Airbnb set ups

[Marc Shin]

Hello,

For the financing of a BRRRR, are there lenders that are willing to include the costs of Airbnb set up (i.e. furnishings) in the initial hard money loan for a BRRR? the costs for the Airbnb furnishings could be anywhere from $20K- $30K.. are hard money lenders willing to include this amount in the initial loan?

[Jay Hurst]

Quote from @Marc Shin:

Hello,

For the financing of a BRRRR, are there lenders that are willing to include the costs of Airbnb set up (i.e. furnishings) in the initial hard money loan for a BRRR? the costs for the Airbnb furnishings could be anywhere from $20K- $30K.. are hard money lenders willing to include this amount in the initial loan?

 I cannot imagine anyone would finance chattel, meaning personal property.  But, even if someone was I would imagine the financing terms you can get a mid level furniture store would be much better then a hard money loan anyway. 

[Frank Pyle]

I do some private lending and if the deal met my requirements with furnishings I would be ok. Typically looking for max ARV at or below 65%

[Jeffrey Blackman]

@Marc Shin despite seeming to conflict each other, both @Jay Hurst and @Frank Pyle offer good points. #1 you can often find promotions for zero or low interest from furniture stores that you might want to consider. #2 many private/hard money lenders will consider furnishings if the deal, including the furnishings, falls into their deal box.

Believe it or not, it might be easier to include the furnishings in the deal with a significantly lower down payment if there is other rehab work to be done. We close BRRRR and fix and flip deals in 3 - 5 days. I'd be happy to walk you through the process if you have questions, just DM me.