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Updated about 5 years ago,
Pitching for a DSCR Loan
I'm trying really hard to buy cash-flowing properties with little to no money down.
So far I've got DSCR, Money Partners, and really creative financing ideas from other people.
This post is more specifically asking about how I would pitch to a Private Lender/HML for a DSCR 30 year fixed or similar product for multiple units.
So I noticed that some DSCR loans offer 100% financing or really high amounts of financing no income checks or credit checks. They seem to just care about how much profit are you making on your investment and how good are the chances that you won't default on your loan to them.
I want to create a pitch to these lenders for some properties that I think have really good numbers and rental histories, how would I go about doing this? Or what do I need to even qualify to do this?
Does anyone have their own recommendation for a specific lender to go with?
The reason I want a lender is that I can leverage the loan to make a profit on a deal.
Money Partners are hard to find, especially money partners with tons of cash just sitting around that will also let you in on the deal. Is my thinking on this flawed?
Currently trying to negotiate for a 300,000$ but if I scale it up I found a 3 million dollar deal that falls under similar numbers to my smaller deal.
Am I over-reaching, who knows maybe I'm just too excited.