June 23, 2015
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Can a Computer Determine the Best ‘Comps’ for Airbnb Listings?

As of today, there is a new software tool that claims the answer is ‘yes’. A ‘comp’, or ‘comparable listing’ is an Airbnb listing which shares […]
June 4, 2015
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The Future of Airbnb: 56 Industry Experts Reveal Their Outlook

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May 17, 2015
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Top Ten Airbnb Cities: Only Two in the US

Airbnb was founded almost seven years ago in San Francisco. After a slow start, the company has grown to over 1 million listings in 190 countries. […]
May 15, 2015
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Airbnb Providing Hosts with more Insights into Reviews

Airbnb has recently started providing selected hosts with much more details with regards to the reviews that they receive. In addition to showing the % of […]
May 7, 2015
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Why the Airbnb Calculator Sets Prices of Airbnb Listings Too Low

Airbnb released a new tool to help their hosts improve their listings: the Airbnb calculator. Pricing is by far the most complicated aspect of Airbnb hosting. […]
May 5, 2015
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How To Keep Your Airbnb Business Safe

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April 29, 2015
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AirDnA: Finding the best area for your next Airbnb rental

AirDnA is a tool for finding profitable Airbnb locations. After many hosts find success with their first rental they naturally think about investing in new properties, […]
January 1, 2015
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Airbnb Host Tips: Two Super Hosts Share Their Best Tips

Every Airbnb host is looking for ways to improve their listing or guest experience. Who better to ask than a selection of two super hosts? These […]
December 17, 2014
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3 Trendy Airbnb Listings in San Francisco, California

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December 10, 2014
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Airbnb Open 2014 in San Francisco

In November 2014 a very special event took place organized by Airbnb: the Airbnb Open. Over 1500 hosts from all over the world gathered at Fort […]
November 18, 2014
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3 Awesome Airbnb Florida Listings on the Beautiful Gulf Coast

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November 4, 2014
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Airbnb Smart Locks: Provide Keyless Entry to Your Airbnb Listing

Airbnb smart locks provide Airbnb hosts with a great way to provide keyless entry to their guests. Why is this important? It can save you time, […]

If you have dreams of buying properties to list on Airbnb but you don’t qualify for a traditional mortgage, all is not lost! You can still acquire real estate and build a portfolio of short-term rentals by way of creative financing.

Isaac Moore and Andrew LeBaron are the Cofounders of Buy More Time, a short-term rental property management company out of Arizona. Isaac and Andrew are also experienced real estate investors who specialize in using creative financing techniques to scale a STR portfolio and helping others do the same.

On this episode of Get Paid for Your Pad, Isaac and Andrew join me to share their top creative financing strategies for acquiring Airbnb properties. They explain how to leverage seller financing, hard money or personal lenders to build your short-term rental portfolio and offer advice on using non-qualified mortgage products to purchase properties. Listen in for Isaac and Andrew’s insight on selling a lender on your hosting track record and get their five-step plan for buying your first STR properties with creative financing.

Topics Covered

How Isaac & Andrew got into short-term rentals

  • Seller financing deal in Mesa, Arizona
  • List on Airbnb to earn 3x market rent

Isaac & Andrew’s journey to starting Buy More Time

  • Sold lease on first unit for $30K
  • Use profits to arbitrage additional listings
  • Start property management company

Isaac & Andrew’s first seller financing deal

  • Take over mortgage, no money down
  • Lease with option to purchase
  • Control property without ownership

Why a property owner would do seller financing

  • Lessee makes upgrades to property for STR
  • Lessee takes over mortgage payments

The note and deed of trust method of seller financing

  • Offer small non-refundable down payment
  • Pay 1% or 2% interest on balance of home
  • Pay mortgage (through 3rd-party company)

How Isaac & Andrew partner with a personal lender 

  • Friend in network willing to loan $30K
  •  6 arbitrage units up and running in 30 days
  • 10% interest-only payments for 12 months 

The benefit of non-qualified mortgage products

  • Prove rental income with Airbnb statement
  • Put toward purchase of another property

The difference between hard and soft money

  • Hard = at least 10% interest, short-term
  • Soft = 7% to 9% interest, long-term

What makes hard money a good tool for STR

  • Lenders willing to finance based on ARV
  • Refinance and use equity to buy more units
  • No pre-pay penalties

Isaac & Andrew’s 5-step plan for getting started

  1. Find landlord willing to do lease option
  2. Furnish, beautify and list on Airbnb
  3. Document everything to show income
  4. Ask landlord to deed/seller carry property
  5. Refinance property with Isaac

Connect with Isaac & Andrew

Buy More Time

Email information@buymoretime.com

Resources

Live Let Thrive Podcast

Weststar Mortgage

Get Paid for Your Pad on YouTube

The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph by Ryan Holiday

Email jasper@getpaidforyourpad.com 

Sponsor

Hostfully [Discount Code PAD]

July 26, 2021
Creative Financing Strategies To Acquire Airbnb Properties

Creative Financing Strategies to Acquire Airbnb Properties – with Isaac Moore & Andrew LeBaron (Ep393)

 If you have dreams of buying properties to list on Airbnb but you don’t qualify for a traditional mortgage, all is not lost! You can still […]
July 19, 2021

Airbnb Host Leverages Peloton Bike to Increase Revenue by 15% – with Aaron Aaron Hanauer (Ep392)

During the pandemic, smart Airbnb hosts focused on making it easy for guests to work from home. But Aaron Hanower took it a step further and […]
July 13, 2021

How To Pivot From Masterleasing to Management (Ep391)

Airbnb was a crazy saturated space pre-COVID and once the whole world shut down, it caused everyone, including people in real estate to have to majorly […]
July 5, 2021

Scaling a Remote Co-Hosting Business While Maintaining a 5-Star Guest Experience – with Sean McGregor (Ep390)

The best business strategy is a satisfied customer. And if you host one or two short-term rental properties, it’s fairly easy to earn five-star reviews on […]
June 28, 2021
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How Sergio Quit His Job to Go All-In on Airbnb (Ep389)

So, you don’t quite make enough money to support yourself as a short-term rental host. But you know you need to spend more time on the […]
June 21, 2021

Scale Your Airbnb Business by Building Relationships – with Liam Carolan (Ep388)

 To scale a short-term rental business, you need more properties. And the best way to expand your portfolio is to build relationships with the right people. […]
June 14, 2021
Streamline your cleaning and maintenance with Breezeway

Streamline Your Cleaning and Maintenance with Breezeway – with Jeremy Gall (387)

If you manage one or two properties on Airbnb, it’s fairly easy to keep track of your communications with cleaners and maintenance personnel. But as you […]
June 8, 2021

Automatically Collect Guest Emails with StayFi (Ep386)

There are two ways to get more direct bookings: You can either find new customers or get current customers to return. And when you try to […]
May 4, 2021

Destination Creation – with Wil Slickers (Ep382)

Wil Slickers is the host of the popular hospitality podcast Slick Talk, the podcast for anyone and everyone in the hospitality industry that loves what they do […]
April 21, 2021

Lessons From The Legends X Accelerator (Ep381)

We launched the Legends X Accelerator program to help hosts build a thriving hospitality brand. Over 50 short-term rental companies joined the program, and we're seeing […]
April 13, 2021

From 8 to 50 Units in Less Than a Year (Ep380)

Do you see other short-term rental hosts as competitors or potential collaborators? It may seem counterintuitive, but connecting with other STR entrepreneurs for support can lead […]
April 6, 2021

What to Do When Your Airbnb Guest Sues You (Ep379)

Even if you take every possible precaution, there’s still a chance that an Airbnb guest could get hurt on your property and sue you for negligence. […]
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