Many Smokys owners are having to make a decision in the next 48hrs on having to cancel incoming guests this weekend due to weather/snow event. 

;however, my issue is that I dont have good credit and since im self employed I make.very little income.  Ive

There are a few programs that can do second position financing but typically underwritten based on your personal income.

If you have more than one LLC, each LLC should have its own set of accounts.Checking: Collect all income here, then use it to pay bills, the mortgage, or maintenance.

The banks thought I was a dead beat because of my debt to income ratio.  

If you plan on moving do something else in the meantime and build up income/savings

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

I'm a big fan of value-add opportunities, whether it's buying something currently undervalued & fixing it up to my standards, or buying something that has additional income opportunities that have yet to be incorporated. 

Next goal is $250k in income through my real estate and stepping away from the day to day management of the properties.

Here’s where it becomes a thing of beauty……it looks like I’ll be working with him on more deals just like that this year.How many deals do I need to make that a 6 figure income stream?