A lot of rehab lenders will account previous reno expereince when it comes to terms.

You set your own payment terms with YOUR client and then find funding for them.The Capital Syndicate is a private lender firm that offers financing through their own company, but they also provide you with a list of about 150 other private lenders. 

My idea to achieve this is to convert the studio into a short-term rental.I’m trying to determine if I’m forcing this deal to work by relying on the short-term rental strategy or if it’s a reasonable approach given the numbers.

AirDNA shows it on the rise in terms of annual revenue, occupancy rate, average daily rate and revpar, with about 3,000 total listings.

Actual cost takes into account depreciation so complete destruction of a property could leave you under water in terms of the amount paid for the loss.

Time allows for adjustments, scaling, and reinvestment in ways that short-term projects simply can’t achieve. 

Hard money loans can be an option, but they often come with high-interest rates and short repayment terms.

Long Term non-paying Tenants.

Placed another 8 unit portfolio under contract in early March, unfortunately contract expired on April 23rd, couldn't secure favorable loan terms that wouldn't allow portfolio to meet cash flow numbers because banks changed lending practices due to Coronavirus pandemic.

Bought it as a safe bet thinking it would do roughly $35k annually in short term rents.