I’m looking to raise $160,000 to cover the purchase, renovation, and activation of this new Airbnb property.

My question is: After I build the units, can I do a cash-out refi and use the equity to purchase another home? 

@Moshe MarcianoI recently helped an investor from Orange County purchase a single family home here in San Diego.

The ONLY reasonable deals are:Appliances when purchased if you have a retailer that offers unlimited repairs/replacement for 5 years for 10% of price.

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

I definitely wouldn't sign a purchase agreement before seeing the property.

That ensures you don't spend it on other things and know exactly how much you have to spend on the next purchase.

Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The asset was purchased at 76 million and it recently appraised at 63 million.

I own a small multifamily commercial in Albuquerque and can confirm the diversity of the economic and cultural factors that you mentioned.