“I’ve been investing in real estate for 22 years, and Nectar’s funding has helped me take advantage of the growing short-term rental market. With the time I’ve saved through working with Nectar, I’ve been able to focus on systems and scaling quicker so that my business continues to expand in the future.”
- Kris B., Short Term Rental Owner & Operator
Deal Type: Owner-Operator
Portfolio size: 12 units
Use Case: Renovations and furnishing for a new Airbnb
Location: Indianapolis, Indiana
Kris is a realtor, rental owner, and investor in Indiana. With 22 years of experience as a long-term rental owner, she has renovated and flipped 31 properties and currently owns 12 doors and 2 lots.
When Kris identified new opportunities in the short-term rental space, she pivoted her focus to Airbnbs. In addition to her other real estate investments, she is now a Superhost with 5 listings in Indianapolis.
For short-term rental hosts who are looking to scale, time is of the essence. Since mortgages and other traditional funding sources each operate on their own time frame, entrepreneurs sometimes need additional cash to complete renovations, furnishings, and other final steps to get a new property ready for listing.
Kris was nearing the end of completing renovations on a new Airbnb, but she was also facing an expiring rate lock on her refinance. Mortgage rates had increased significantly throughout the course of the renovation, and if the rate lock expired, Kris would end up paying much higher interest rates than she’d budgeted for.
Kris needed to finish her renovation and furnish the home as quickly as possible so she could list her property on Airbnb, start generating income, and close the loan before the rate lock expired.
Kris applied for funding from Nectar and received a quote back within 24 hours. Based on her profit and loss statements and proven experience as a successful real estate entrepreneur, we were able to provide her with an advance just 15 days after the initial application.
With Nectar's fast funding, Kris was able to act quickly — locking in a lower mortgage rate for the property, finishing the renovation, and furnishing the space in a matter of weeks. As a result, she listed her property on Airbnb and began generating rental income much sooner than anticipated.