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Briley Roe
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Dscr investment rates high

Briley Roe
Posted

I am buying a property for 144k that appraised for 247. the property was lowered to this number after sitting for a year. needs 25k in repairs, and will rent for 1350-1450. The dscr loan is requiring 25% down, and 13000 in closing for a total of 48. I feel like the initial investment is a little inflated. Is it normal for closing to be 13k? and does this seem like a good deal? take into consideration I am getting a decent deal, and this property could Easily be worth a 100+ a sq ft within 5 years

property pictures below

https://www.zillow.com/homedetails/1072-Fm-126-Merkel-TX-79536/62562011_zpid/

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Chris Seveney
  • Investor
  • VA
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Chris Seveney
  • Investor
  • VA
ModeratorReplied
Quote from @Briley Roe:

 yes those fees are very high as you have a broker fee and other fees for a loan little over $100k at 6+ points. 

  • Chris Seveney
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7e investments
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