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All Forum Posts by: Bill Grenier

Bill Grenier has started 1 posts and replied 4 times.

Post: Advice on buying home that was airbnb

Bill Grenier
Posted
  • Posts 4
  • Votes 1
Quote from @Cory King:

Hi @Bill Grenier

The amount of structures can have an impact on financing but there are options out there. I know some solid knoxville mortgage brokers who'd be worth asking & would be happy to connect you. Same w/ the folks down at planning & zoning, they're super helpful. 

i'm in knoxville so happy to talk property specifics. sounds like a cool play. you'll be fine as an owner occupant and city STR rules.


 Hey Cory 

Well apparently there was selling price confusion. Not sure if the numbers are going to work with the new price. 

Post: Advice on buying home that was airbnb

Bill Grenier
Posted
  • Posts 4
  • Votes 1
Quote from @John Clark:

Contact the zoning department and see if you can get the property rezoned as a duplex. The AirBnB is irrelevant, since if the studio is illegal/not up to code, you can't do short term rentals anyway. Once duplexed, run the short term rental as allowed by local law.


 OK, kind of what I was thinking had to happen will still look into the zoning of it. Thanks for your replies.

Post: Advice on buying home that was airbnb

Bill Grenier
Posted
  • Posts 4
  • Votes 1

It was a single family  with a garage under. They converted the garage into a studio and been renting the upstairs and the downstairs on Airbnb for years. 

Post: Advice on buying home that was airbnb

Bill Grenier
Posted
  • Posts 4
  • Votes 1

Hello all
not sure if this is the right place to post this. but an opportunity fell in my lap. A previous Airbnb home is coming for sale. It has two units, but the house is only a legal one family, looking to possibly purchase it and live in one of the units and rent out the other, one as a Airbnb or just as a regular rental would need to get some kind of financing to make this purchase by being only a legal one family a conventional mortgage I think would be out of the question. Any suggestions would be appreciated thank you.