Beeline for DSCR loan

[Forrest Adkins]

Just wanted to reach out to the BP community and see if anyone has done DSCR loan through BeeLine? If so what was your experience like?

[Zach Edelman]

Forrest - 

Not sure what transpired on this loan, or if it did even transpire, but I would give two pieces of advice here regarding DSCR lending, one of which specifically for STRs:

1. Bigger Pockets has a list of recommended DSCR lenders that they themselves have vetted/are comfortable reccomending. That is a great place to start.

2. When seeking DSCR debt for STRs, some key questions you should be asking your lender are:

- Can you underwrite with AirDNA? If so, are there any restrictions (i.e occupancy, market grade, etc, if DSCR is below 1.00x, etc.)

- Can you underwrite with historical booking history? If so, do you need a full year of booking history to underwrite using historicals?

- Can you use an STR based 1007? This really only exists in vacation markets but worth asking to make sure your t's are crossed and i's are dotted.

- What happens if the property appraises as rural? Again, this will only apply to properties in specific markets where the asset could be considered "rural" but if there's even a slight doubt/chance that the property could appraise rural, make sure you understand, what, if anything, are the ramifications.