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Updated over 1 year ago,
Best DSCR Loan options/companies for my situation
I'm moving away from conventional loans and into commercial loans. I think I would like to get a DSCR loan for a couple of BRRRR deals, and wanted some recommendations about who and who not to try.
One of the properties is a SFR with a DADU (making it a little hard to appraise via sales approach in my area). The second is a 5-unit multi-family. (5 separate electric and water meters) Depending on appraisal method (income vs sales), I should be able to pull almost all my cash out at 75% ARV on both properties. The DSCR ratios should also be between 1.25-1.50. Both are full with current leases between 8-14 months. My credit score is 740+. I have 4 other rentals within 2 miles.
Recommendations?