All Forum Posts by: Adam David Graning

Does anyone know of someone who lends on second home loans and will count short term rental income towards DTI after 1 yr of it on taxes (instead of needing it on 2 yrs)?

We're under contract and our original lenders investor closed their doors so now we're in a pickle. Trying to find DSCR for 15% down or second home loan.

Thank you!

@Yonah Weiss that would be great news! Thank you, Yonah.

Hello everyone. So I'm closing an STR property on Dec 29th. I know it needs to be placed into service in the year you claim accelerated depreciation.

Does that mean I need bookings 2022, or do I just need to list it in 2022.

It's currently an STR and will be all of next year. Thanks!

Calculate your cash flow based on your rent- expenses, then calculate your cash-on-cash return based on all the cash you need to put down out of pocket. If you put zero percent down, that's awesome, but if it's gonna have negative cash flow when you move out, you might want to keep looking. Consider smaller multifam or STR/MTR in order to make the numbers work. You only have to live there for a year.

Hi Bethany. I would say that the standard is to do a percentage based on the gross income. I like this for both parties because it acts as a commission. It depends on what your time (and stress) is worth to you. Some people charge up to 25 percent. I wouldn't go any lower than 15, even for a friend.

@David Gauger I’ve found rabbu to be more accurate. AIRDNA fluctuates so much.

@Kay Kay 4.74 over 6 years, and that was less than a month ago

@Jonathan X Sanchez hey Jonathan. Message me with any questions you have. I can help you out!

@Kay Kay yeah I just did a cash out refi on my truck. It took about 20 minutes and locked in a good rate. It’s an amazing way to go.

Hi friends, does anyone happen to have a firm grasp on the Duluth/Two Harbors, MN STR rules?

I'm not new to STR but would love to invest up north in Minnesota.

I know there are certain regulations, I’m just wondering if it’s possible. Thanks!