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Updated 11 months ago,
No Seasoning DSCR Options?
As the title reads, I am looking for a DSCR lender with no seasoning requirement (if possible). I purchased a rental property just over 30 days ago with cash, and already have a tenant in place. Looking to pull capital out to move onto other projects I have in the pipeline. Also interested in entertaining funding for those if possible. I am familiar with delayed financing, but would like to pull more than 80% of purchase price out if possible.
• Property is located in San Antonio Texas.
• Purchased for $120k. All in around $127.5k.
• Insurance @ $860/year.
• Property Tax @ $2,950/year.
• No HOA.
• 12 month lease in place as of 10/1 @ $1,395/Month.
Thank You!