All Forum Posts by: David Lowe

@Wendy Schultz Nice idea. What area does the company you work with cover? 

@Chuck Kramer Good points. Thank you. Surely if out of staters are creating jobs (property managers/lenders/cleaners), that is keeping money in the area? Have you gone through E Tennessee institutions? Can you recommend any? 

@Avery Carl Fascinating. Thank you for your comment and great tips. Can you clarify "in-house" loan? Could you connect me to potential lenders to discuss this? 

@Luke Carl Wow. That is amazing. What type of houses are in demand (1 to beds or 4+ beds for families)? And what kind of STR yields (six figures)?

@Eric P. Fair point. My only thought would be that a city like Gatlinburg would not be on the top of the list for Airbnb travelers and therefore have high vacancy rates. 

@Charles Kao Definitely a strategy that would work but it would take too long. I want to be more aggressive with my STR concept.

@Charles Kao Any suggestions on the "someone"?! That sounds like a viable option. 

@Wendy Schultz What if you show the market average cash flowing (for the city you are going into)? Surely that is sufficient to prove a model for a loan? 

@Julie McCoy Thank you. I will check out Schedule C o E and see if there is anything I can use. I have just come across a few loans that are specifically for short term rental properties. I might go with one of these versus all cash so I can do multiple projects. 

I currently have no salary to show mortgage companies cash flow to get a mortgage approved. I don't want to have to spend $250k cash on a house to use as a short term rental because I want to have multiple projects running with less cash locked in. The STR model is a well proven one and I have data to support the market I am going into. Is it possible to get a US business loan for this? If so, what type of interest rates are you hit with?