![]() ![]() The situation changed in early 2018 when Airbnb was finally able to convince major lending institutions that it not only provides American homeowners with a stable way to generate cash but also offers reliable technology to track their income. Until recently, for many Airbnb owners, such an exit strategy was not possible simply because their Airbnb income was not accepted by underwriting. We need to make sure that our borrower will fit into the conventional lender’s underwriting standards, and that refinancing is, in fact, a viable option. In such cases, he would need to repay our loan by refinancing it with a traditional lender once the renovations are complete. ![]() However, they become a part of our underwriting if a borrower wants to keep the property instead of selling it. As a hard money lender, we don’t really care much about your credit or your income. One of the primary reasons why we haven’t seen many borrowers buying investment properties specifically with Airbnb in mind in the past is the lack of a clear exit strategy. Lenders Now Allow Airbnb Income to Qualify for Mortgage Refinancing ![]() If you are like me, you start thinking about how you can leverage the Airbnb platform to increase your own real estate profits.įor questions about how you can start making money through rental properties in Maryland, Washington, DC, or Virginia, contact New Funding Resources today. It currently has 150 million users and 64,000 hosts. Out of its 4 million listings, 660K are in the U.S. The Airbnb route is not for every investor and not for every property, but it’s definitely a great example of creative thinking.Īirbnb was founded just over 10 years ago, but today has more listings worldwide than the top five hotel brands combined. However, to make money in the tightening market, you have to think outside the box. The majority of the deals we see are still your good ole’ rehabs: a buyer snatches a dilapidated property at the right price, invests blood, sweat, and tears into its renovation, and then sells it at a nifty profit. ![]() To be honest, until last year we hadn’t worked with many real estate investors who were purchasing a property with a specific purpose of offering it for rent via Airbnb. Would you make more money listing your property on Airbnb instead of renting to a full-time tenant? ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |