Break into the Rental Game with an Arizona Airbnb Loan
Thousands of people in the U.S. are making extra income by opening an Airbnb rental. How do you get funding to cash in on the homestay craze? We’re here to help you figure out how to get an Arizona Airbnb Loan.
Whether it’s a bit of supplementary cash or a full-time income you’re looking for, an Airbnb rental may be a fantastic option. Many people choose to build an addition to their existing home, while others buy entire properties to rent out on the popular homestay site.
There are pros and cons to this approach compared to being a traditional landlord. An Airbnb requires more regular cleaning and you’ll need to be available at all times to tend to each and every need of your guest. There is also a range of upfront costs. On top of the sale price of the property or the costs of building an addition, you’ll need funds for repairs, decorations, insurance, and all the little items guests will expect to be stocked like shampoos, soaps, and snacks.
Of course, along with these upfront costs comes the potential to make exponentially more. Let’s say you can rent your apartment for $1,200 per month as a traditional landlord. You can probably rent the same apartment on Airbnb for $120. That’s a total of $3,720 a month, or $2,520 more.
Getting financing for an Arizona Airbnb rental
So if you’re sure an Airbnb is the way to go, how do you secure financing to pay for the property and all the upfront costs? If your credit score is fantastic, your bank account is healthy, and your history is spotless, you may be able to go through the bank. They’ll pour over every detail of your financial life and you may have to wait a while to get your funds.
Another option is a hard money Arizona Airbnb Loan. Arizona Hard Money Loans are secured with collateral, so lenders in this field don’t base their decisions as much on credit scores and history. And, in addition to flexibility, Arizona Hard Money Loans really shine in one area: speed. You can get approved in a matter of days and have your funds in a matter of weeks.
Finding a hard money lender for an Arizona Airbnb Loan
Need an Arizona Airbnb Loan to jumpstart your dreams? Finding a Arizona Hard Money Loan in Arizona is simple. Give us a call today and we can talk about your plans and investigate options to make them happen.
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