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Updated about 2 years ago on . Most recent reply
Condo Conversion DSCR loan or something similar
Hi everyone! So I am working on a project where Im converting 2 condo units into one and then potentially selling or refinancing and renting it out via STR. Total process is a couple months.
My problem is that due to my taxable income the past couple years, conventional lending is a bit tough.
Does anyone have any loan suggestions for me? Is there a DSCR that fits this? Bridge loans?
Id appreciate any and all advice on it as I need to lock in a loan/solid lender
Thank you!
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#3 Private Lending & Conventional Mortgage Advice Contributor
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#3 Private Lending & Conventional Mortgage Advice Contributor
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- Austin, TX
Quote from @Jake S.:
Hi everyone! So I am working on a project where Im converting 2 condo units into one and then potentially selling or refinancing and renting it out via STR. Total process is a couple months.
My problem is that due to my taxable income the past couple years, conventional lending is a bit tough.
Does anyone have any loan suggestions for me? Is there a DSCR that fits this? Bridge loans?
Id appreciate any and all advice on it as I need to lock in a loan/solid lender
Thank you!
DSCR should be a good option for this
@Jack Tulloch is a DSCR guy that does a lot of condo deals like this, he can likely help