🚨 2/6 - How Much Money Do I Need To Start Investing In AIRBNB? 🤷‍♂️

This is part 2 of our 5-part series on getting started with Airbnb investing, If you haven't seen part 1 of this - I recommend checking that out - where I talked about all the beginner strategies that line up with this financing blog

in this blog, we are talking about the money

and what money you need to get started in Airbnb and what type of loans you may be able to use to your advantage

let’s get into it - and yes these are in order of favorite current strategies like the last blog

The first one...

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1. 10% down 2nd home:

We have talked about it more on tik tok - but it's still probably my personal favorite. You are buying a home in a destination area that you get to use whenever you want and you can rent it out on Airbnb when you're not there. It's great because its only 10% down, typically a very low interest rate AND the PMI (which is additional insurance you have to pay when putting down 20%) goes away when you get to 20% equity on its own. most other loans require a refinance in order to get rid of the PMI - which is time-consuming and expensive

If its so great - why doesn't everyone do it? The only catch regarding the financing is that it will depend on your financial situation.

According to the mortgage reports - you need to have at least a 640 credit score and a DTI up to 45%.

If you don't know what this means or have more questions, I would recommend just calling a local lender and explain your financial situation and what you're trying to do. They will be able to tell you fairly quickly what you can qualify for regarding a loan.