All Forum Posts by: Harshad Lalan

Hi Jackie: 

You can do a cash out refinance up to 75% LTV. Since you will be using this part of your time for personal use, you can qualify for lower rates as a second home.

You can take mortgage deduction for the % of time you use as a personal property and you can use business depreciation for % of time you rent it out. So lets say you use the property personally for half the year, then you will take your entire mortgage interest and be able to deduct 50% of it. You can depreciate the property as business expense for the remaining 50%. 

Disclaimer: Not a CPA/lawyer and this is not legal advice. 

Hello Cass: 

1) Proper Insurance - They provide the best coverage and terms but can be expensive. 

2) Travelers - They recently added a "Homesharing Rider" to their basic primary/second/investment property. I am using Travelers. 

3) Foremost - No personal experience

4) Safely - They are great for STRs that may not be booked occasionally as they offer policy for each booking. For exmaple, $40 for 3 night stay for a $100,000 liability and damage, $10,000 contents coverage.

Check out Travelers for a fulltime homeowners insurance with adjustment for airBNB  or Safely. If you only intent to Airbnb it occasionally or half the year then you will be better off with Safely. They essentially issue insurance policy for each reservation instead of paying the premium for the entire year. You will still carry your basic homeowners insurance policy. 

If you want full protection, Proper Insurance is best but very expensive.

Were you looking to rent out the whole house or just rooms while you stay there?

Hello Michael, 

Please reach out to Ishita at (319) 320 3662. She is currently working a similar project for a friend in Orlando and is an excellent designer as well as property manager. 

Hello: 

This will give you a starting point, but will need more modifications for your state and situation. Short Term Rental Lease Template

Good Luck!

Hello Isabella:

We manage a few airBNB properties and will be happy to discuss what areas you looking to get experience in. I sent you a private note.

Hello Daniel, 

I have access to AirDNA data nationwide. I will be happy to run an analysis for your target property. AirDNA is most cases is not 100% accurate but it definitely gives a good estimate. 

Yes, the learning curve can be steep but there are many tools available to automate. In the end you need to decide if its worth your time or get a co-host to help out and you can focus on growing your portfolio. 

Hello Krista, I will be interested in your group. I am presently not in the area but I went to Embry-Riddle and looking at purchasing/partnering up in STR there. We have 5 STRs in Iowa (where I am currently)