All Forum Posts by: Zach Edelman

Would love to help and do rural STRs frequently. None of the "issues" you mentioned above are problems. Will reach out!

Yes, there are lenders that do do this. You'll want to find one that can use AirDNA projections to qualify the loan and doesn't require a full 12 months of bookings. 

Agreed with the above. Those terms are quite expensive. What does the interest rate on your rental property in FL look like? 

If you paid for the report, you own the report, that simple. I'd reach out to the AMC and ask for the report. They should be obligated to give it to you.

DSCR loan can achieve this all day. What do you think is the effective LTV of that loan today? If you got a 90% LTV loan when you acquired the property, most DSCR lenders will be at 80% LTV on a rate-term refinance, and thus you will likely have cash to close (not sure if you're OK with this).

I specialize in STR loans specifically for DSCR and most of my business is in Western, NC. Would love to chat if you're still looking for options!

DSCR is certainly an option with projections. You're fine.

Yes - you can get a DSCR loan without it being an LLC, but it will depend on the state the properties are located in, frankly.

This is an excellent write up for DSCR loans for STRs. If you dive deeper, STR lenders that do DSCR (and do it properly) typically use any/all of the following three data points for deriving the STR rental income for the loan, and thus qualifying the transaction's DSCR:

- AirDNA

- Seller/Owner trailing twelve month booking history

- STR 1007/STR narrative analysis from appraiser

Hope this look under the hood helps!

Hey Zach -

Fellow Zach here! I'd love to chat with you about getting you onboarded as a signature broker with us. Please reach out!