We are BRRRRing it and we’re originally going to rent traditionally, however we decided to look into it as an Airbnb, and when we put in current loan rates which will be near or at 7% when we are ready, we’d only cash flow about $150 a month 😱, but as an Airbnb our projections are around $1,300 cash in our pockets monthly. 💰 At this point is a no brainer 🧠 and we know if it doesn’t work out or we don’t like doing it we can always revert to a traditional rental. 

-Ray (see above) is the man and can get you hooked up with great rates and low-fees!

For a cash out refi, you are generally limited to 75% LTV and rates right now are in the mid 7s for good credit and a DSCR over 1.0. 

My umbrella policy just sent me a non-renewal because Steadily is underwritten by Fortega which is not at least B+ rated. 

Quote from @Roger Flot: I was reviewing some renovated listings in my area and one indicated that even though the house was originally built in 1920, because of all the renovations bringing the house to current code, that you could get 2024 rates on insurance. 

Are the units rented at market rate, or is there room for rent increases?

What about rate and term refinancing?

Increase the occupancy rate to 80% or higher over the next 12 monthsto increase the value.

I have some YouTube videos that may help with some of your questions and always happy to have a call to dive a little deeper. 1. which development(s) tends to be the best for ROI/have the best occupancy rates? 

Keep in mind a HELOC rate will be much higher because of the CLTV and risk.