All Forum Posts by: Matt Ruttenberg

@Brent Kakwitch great we’ll take a look!

@Natalie Schanne thanks for the very detailed response! Very helpful!

@Austin Green I’m in the same boat. I think it will increase down the road, but right now the town is a bit on the past. Need a few more breweries!

Any strategies out there to fund the furnishing of a STR?

I know consignment stores and garage sales are a way to keep it low cost, but any funding strategies if you’re trying to furnish a higher end property?

Adds up quick!

@Austin Green we currently live in Franklin (short term)! I know the hotter markets are in Sylva and surrounding area.

Been contemplating how Franklin would do in STR myself. Haven't connected with anyone yet as far as management, but Sylva is averaging around 70%.

More to do over there. But Franklin is gorgeous, but the town is lacking for sure.

What are your thoughts?

Ok, here’s what I’m trying to figure out.

As a first time real estate investor, I understand what’s available in term of funding the purchase, for the most part.

If we go the hard money/ private lender route, we’ll need to refi after the 1-year balloon, which is what I’ve been told are the terms from the lenders.

If I’m doing short term rentals, my conventional lender is telling me I need to wait 2 years to be able to use the income.

Any ideas out there on how to refi at the 1-year mark for the balloon payment if you can’t use the income yet?

@Bobby Rather So here’s a follow up on the USDA question.

We travel almost 100% of the time but want to establish “home bases” throughout. We wanted to buy our first via USDA if possible and would legit be our primary, just not there often.

Could we not rent it out via short term rental when we’re gone and be within the guidelines?