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. 

Right now we're shopping around for loans outside of traditional lenders. 

Traditional 30 year fixed mortgage How did you add value to the deal?

There are not traditional DSCR lenders that would do that.

Do you use traditional financing or do you us DSCR loans?

Hey @Brandon Toron,Given your plan to turn the property into a short-term rental (STR), you have a few creative ways to push closer to that 90% cash-out goal, even if traditional lenders shy away from it:1. 

Major brands like Ritz Carlton and Waldorf Astoria are currently developing property there, where they have traditionally developed in Miami, Fort Laud, and Palm Beach. 

Just make sure to fully understand the loan terms, especially the interest rate and repayment schedule, so there are no surprises.2.Condition of the Property: If the property isn’t in really rough shape and you were able to get insurance on it using a 4-point inspection and wind mitigation, you might even qualify for traditional funding options like FHA, Conventinal, VA, a cash-out refinance or a home equity line of credit (HELOC).

.#6  Knowledge -  Know why STR is better for the landlord than traditional rentals.   

In short, I’m trying to figure out if it’s worth pursuing an off-market seller financing deal versus getting a traditional loan and competing for the property on the open market.