All Forum Posts by: Jessica Wainscott

@Andrew Postell thank you so much for that explanation.  You have made it so much easier to understand!

@Alex Wise in my area (Northern Kentucky) each city and county in some situations has its own regulations. We found this out the hard way when we had to change our strategy from a typical STR to a min. 30 day STR bc of the city regulations.

@Matthew Crivelli thank you. So delayed financing is just a temporary solution and cannot be used as a regular mortgage for 15-30 yrs? What is the LTV typically on these?

I am in a similar situation and am trying to decide if I want to take the risk of furnishing a house for short term and dedicate my time to managing it. One thing I learned is to pay very close attention to the regulations in the areas you are looking. Each city will have its own policy on STR and several will only allow 30 day min rentals.

My husband and I just purchased our first SFH investment property and are planning to use it as a short term rental. We paid cash and are planning to get our money back out by financing it in order to purchase additional properties. I have been reading more about delayed financing as an option vs a cash-out refi. It looks like the cash out refi route will take much longer bc of a 6 month waiting time required.

Does anyone have experience with delayed financing after a cash purchase?  Thanks!

@Alex S. that is exactly what I was thinking.  I would like to be able to get in there if they have an extended stay to check on things and make sure the tenants were at least keeping up with trash and simple cleaning.

@Dave Stokley do you have many guests ask for an extra cleaning?

When managing STRs with min 30 day stays how often are your cleaners cleaning the unit?  Do you wait until they vacate or come in weekly, etc.?