All Forum Posts by: Bryan Zen

Thanks for the reply - I was thinking more of a time saving / delegation reasoning of having this compared to doing it myself. 

But I like that idea of doing it locally.  Might be slightly more expensive, but the colloquial execution might be worth the value. 

@Jason Shackleton - thank you Jason!  

So basically try private investors / friends & family even if there is a higher interest rate it's ok because the returns on STR cover it

@David Johnson - that’s clever. I will definitely bring that up to the next seller. Thank you!

Hi everyone,

I have one STR up and running and it's going better than expected. I want to purchase my next one (and soon after my third and more)

I can afford the next one but after that my debt to income will be maxed until I have two years of revenues from the first one. 

Any thoughts on financing additional STR?

I talked to a couple banks and they don't recognize STR the way they do fit LTR.

Just be careful with Airbnb city laws. St. Pete only allows for 3 short term rentals per year unless zoned as a hotel 

Hi - similar scenario. I filled out an application to Refi. I bought a place as a primary residence and lived in it for a while and now renting it out. When I told the Refi people it’s a rental, they said they were going to process it as a primary mortgage for better rates. I don’t feel comfortable with that. I’m thinking of doing another bank for the Refi. 

Current rent is $2.8K with the 3 other tenants already living there.  As a note, I make over $100K and ok with taking a little bit of a loss while I'm living there the first year.

4 Family property in Central NJ. 

New construction area and walking to the up and coming downtown and train station to NYC.

Taxes are high and the property needs work. But feel there is potential.  I would live in 1 unit for a ~year then rent out all four.

Purchase $325K. Taxes, $10K/year. Landlord pays utilities at $6K/year. 

I would do 5% down.