info about DSCR Loan

[Kelly Williams]

I would like to purchase a new investment property and use it as AIRBNB to get profit. Based on my employment history I am only able to pull DSCR loan and I am seeking assistance in getting the right lender and doing investment the right way!

Only what's the disadvantages on DSCR loan ? 
What to avoid during pulling DSCR loan? 
How to find a decent DSCR lender?

I am ferly new in this market and would like to learn the ins and outs of investing in real state. I greatly appreciate all the advice and recommendation....

[Ray Hage]

Hi. Yea it is not easy starting out but it does get a lot easier over time.  You will be ok if you study the game and learn from this forum. I would also advice to join a RE group local to you. I STRONGLY RECOMMEND talking to @Shawn Mcenteer as he's based in your area and has several investment properties. Shawn, you can probably help with these questions especially in the NJ market.

 To answer your questions:

No major disadvantages really other than the rate is significantly higher than a conventional loan. Also, usually, there is a 5 year period where you pay a penalty if you sell the place or refinance it. 

What to avoid? Just keep your personal credit in good condition (don't make any big purchases) and keep a lot of liquid funds on hand

DSCR lenders can be hard to find. I know of one based in NY. They gave me a loan here in Fort Lauderdale 2 years ago. It's a pretty easy process but I am not sure they would loan on a STR.