Has anyone been able to lock in an Unsecured Commercial Loan for a Short Term Rental?
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[{"id": "hwgjzhn", "text": "Chatter as in ads from a company allegedly offering them?", "replies": [{"id": "hwgk79t", "text": "No or else that would be a great place to start looking haha", "replies": [], "depth": 2}], "depth": 1}, {"id": "hwgm6h5", "text": "I\u2019m a lender, what\u2019s the loan amount", "replies": [{"id": "hwgmej5", "text": "None in particular. Would your company do an unsecured commercial loan on a new entity acquiring a property for a STR business?", "replies": [{"id": "hwhugof", "text": "This sentence reads like the first line of a charge off memo.", "replies": [{"id": "hwi5ld1", "text": "Amen.", "replies": [], "depth": 4}, {"id": "hwiitup", "text": "Lmao. Can see it in special assets now. \n\n\"The relationship manager that sourced this facility is no longer with the bank\"", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hwgmibm", "text": "Why would any prudent lender do an unsecured loan on an AirBNB?", "replies": [{"id": "hwgmp7c", "text": "Why would you not? With proper underwriting you could be sitting on an incredible loan structure! \n\nRight now e-commerce lenders have very lucrative revenue based financing models that are unsecured with much riskier assets than RE\u2026", "replies": [{"id": "hwgx58h", "text": "As a lender at my bank, which has a massive global presence, I promise we would never do an unsecured loan to a single person for an Airbnb. And our repo lines would never allow that or we\u2019d shut it down.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hwgspcm", "text": "No.  \nRead up on HVCRE rules.\n\nNo collateral. What makes it an AirBnB loan? All the lender is getting is your guarantee which is only worth your liquidity and cash flow and character. You can get a personal loan and use it as a down payment on a property you intend on AirBnB'ing, but the stupidity of that will be reflected in the loan pricing, and I'd hardly call it an AirBnB loan.\n\n\nEven secured you're going to be hard pressed to find financing on that. Thats like financing hospitality except instead of getting quality collateral and experienced operators you're getting a \"trust me bro\" the prices on airbnb are nuts rn.", "replies": [], "depth": 1}, {"id": "hwhwsd7", "text": "I'm a real estate credit officer in one of the hottest STR markets in the country and I can tell you unequivocally that no traditional bank will do this.", "replies": [], "depth": 1}]