All Forum Posts by: Anthony Stefanacci

One thing to keep in mind. When a lease is in place you can refinance using the income after 6 months. Since there is no lease with a STR you will need to show the income on your tax return before being able to use it in a refinance.

I'm not sure what you mean by "need to show the income on your tax return before being able to use it"

I'm looking at Dominion's DSCR 30 year rental loan. According to them they use 80% based on properties appraised value and if it's an STR they are using AirDNA to get the income numbers on the property(assuming it was a new loan). Is this the income you're referring to?

0 Votes

Asheville, North Carolina

Looking to buy our first BRRRR property and in this market wondering if a modified BRRRR method would help. I'm a GC and own a few rentals currently but this would be our first BRRRR. We are in an area where every house has 10+ offers in 24 hours so in order to stand out we are thinking of buying with cash.

Buy, A solid cash offer at list
Rehab, Use cash
Refinance, Really, just finance since the purchase was cash
Rent, AirBnB as it's lucrative in our area
Repeat

If all goes like I think it will, when we finance after purchase we can borrow 80% of the new appraised value with a hard money lender which may equal or be close to our initial cash and rehab amount.

Please let me know your thoughts?

1 Vote

Asheville, North Carolina

All Forum Posts by: Anthony Stefanacci

Anthony Stefanacci has started 1 posts and replied 2 times.

Post: Modified BRRRR method and short term rental question

Post: Modified BRRRR method and short term rental question