We have a potential buyer of a lot in St Augustine, FL who would like to build a new single family short term rental.

The interest rate isn't great either, but I could potentially swallow that and refinance at a lower rate down the line.

Worst case, pick up the phone, if it costs you $50-100 for legal advice, wouldnt it be worth it to save potential $1000's. 

Hi I am looking for HELOC on a primary SFH...speaking with some lenders I've run into two issues....(1) some won't give you credit for rental income if you haven't owned the property for two years (show two years of stable rental income) which can skew your DTI unfavorably (2) one lender said they don't give a HELOC if a borrower is carrying more than 6 mortgages.Would anyone have any leads for a potential lender?

I’m also networking with investors, lenders, and other professionals who align with my mission of creating opportunities for future investors and helping others gain education in real estate.If you have experience with:✅ Finding off-market deals✅ Creative financing strategies✅ Scaling from single-family to multifamily✅ Investing in South Carolina real estateI’d love to connect, learn, and potentially collaborate.Let’s build together!

I am targeting Cincinnati, OH as potential first market because I grew up not far from there and have at least some connections.

We have a potential buyer of a lot in St Augustine, FL who would like to build a new single family short term rental.

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Buying as a vacation rental could potentially qualify for a lower interest rate, but you’ll likely need to provide proof of personal use (even if minimal).

One of my concerns is that lenders won't lend to potential buyers because it is a modular home.