Navigating Refinancing Options for Short-Term Rentals

Is it possible to scale your real estate portfolio in this market? What if you only have one income? Getting past one rental property is a huge hurdle in every investor’s real estate journey, but increasing your rental income and lowering your mortgage costs can help you maximize your cash flow and get over the hump. And in this episode, we’ll show you how!

Welcome back to another Rookie Reply! Today, we’re diving back into the BiggerPockets Forums and answering your questions. First, we’ll hear from an investor who wants to scale their portfolio but feels stuck with one rental. We’ll show them how to squeeze more money out of their property and fund their next purchase. Our next question is from an investor who wants to refinance a “unique” property that doesn’t have comparables. What type of loan do they need? Should they sell the property? Stay tuned to find out. Finally, we’ll help a few landlords with some “unusual” rental maintenance headaches!

Looking to invest? Need answers? Ask your question here!

In This Episode We Cover:

Whether you can build and scale a real estate portfolio on ONE income

House hacking, renting by the room, and MORE ways to grow your rental income

Homeowners insurance, property taxes, and MORE mortgage costs you can reduce

How to turn your accessory dwelling unit (ADU) into a short-term rental

Creative ways to get refinancing for a “non-traditional” rental property

How to handle unusual (or unreasonable) maintenance requests from tenants

What you MUST keep in mind when working with Section 8 tenants

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPokckets Profile

Join BiggerPockets for FREE

Real Estate Rookie Facebook Group

Real Estate Rookie YouTube

AirDNA

Ownwell

Land More Off-Market Deals with Crucial Property Owner Contact Information from DealMachine

Ask Your Question for a Future Rookie Reply

Grab the Book “The Self-Managing Landlord”

Find Investor-Friendly Lenders

Real Estate Rookie 443 - How to Use “Asset Management” to Build Wealth (Even with a Small Portfolio)

(00:00) Intro

(01:01) Scaling with 1 Income

(11:14) Refinancing “Unique” Properties

(17:08) “Unreasonable” Maintenance

(26:05) Section 8 Tenants

(31:37) Ask Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-514

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