Is there DSCR Lender that does not require Downpayment

[Jayson Tuliao]

Hello BP Community. 

I am very new to RE Investment and hoping to get few advises. Is there any DSCR lenders that will help rookie like me to fund a duplex as rental property without a down payment? I do have 760+ credit score but just don't have money to make down payment at this time.

Any advise is welcome. 

Best,

Jayson Tuliao

[Jason Taken]

Quote from @Jayson Tuliao:

Hello BP Community. 

I am very new to RE Investment and hoping to get few advises. Is there any DSCR lenders that will help rookie like me to fund a duplex as rental property without a down payment? I do have 760+ credit score but just don't have money to make down payment at this time.

Any advise is welcome. 

Best,

Jayson Tuliao

 No. Your best bet is to borrower the downpayment (although, if your property doesn't debt service, you won't cash flow)

[Jayson Tuliao]

Thank you Sir, for response.

[David Ramirez]

No, if you want a low downpayment you could buy it with a FHA loan and live in one of the units the first year.

[Timothy G Dunson]

Quote from @Jayson Tuliao:

Hello BP Community. 

I am very new to RE Investment and hoping to get few advises. Is there any DSCR lenders that will help rookie like me to fund a duplex as rental property without a down payment? I do have 760+ credit score but just don't have money to make down payment at this time.

Any advise is welcome. 

Best,

Jayson Tuliao

That's a great credit score but pretty much all lenders and loans will require some of your money in the deal. It is how the lenders and banks protect themselves. However there are ways to buy a property with none of your own money. For example the VA loan requires 0 down but are very strict on property condition so you probably won't be a great investment. Or people use a hard money lender who do still require a down payment but they use a partner's money who is getting a split of the proceeds of course. Let's connect and talk about what your next step might be to get into investment real estate.

[Jayson Tuliao]

@Timothy G Dunson thank you for your time. I want to be upfront, I am working with a RE (he helped me with my home last year). I am not sure though if he had experience with Rental Property investments. 

[Timothy G Dunson]

Quote from @Jayson Tuliao:

@Timothy G Dunson thank you for your time. I want to be upfront, I am working with a RE (he helped me with my home last year). I am not sure though if he had experience with Rental Property investments. 

That is perfectly fine sir. You can still work with that agent all day. We only deal with properties that we buy. He would not be able to see our inventory unless he already has a agreement to work with us. That being said anyone can see our rolling inventory after we have a quick meeting. I sent you a connect request!