All Forum Posts by: Brandon Beardt

Yes, $50k minimum loan amount with $75k minimum appraised value.

Yes, $50k minimum loan amount with $75k minimum appraised value.

Quote from @Antoine Black:

Do anyone know lenders that do dscr refi loans that's under a 100k 

 Yes, $50k minimum loan amount with $75k minimum appraised value.

Try this direct link - here - instead which should show the page you would see immediately after clicking "Register Now".

Hi Bill! Yes, this is a general invite for anyone to join. You should be able to proceed with choosing "Non-Member" from United States once you click "Register Now". Let me know if you run into any issues at all & hope to see you there!

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100%. These are business purpose loans so there isn't any sort of red tape when purchasing multiple properties at once or one after another. Each DSCR loan is separate and qualifies separately, so one doesn't necessarily affect the other except for the liquidity needed to close since you'll have multiple down payments/closing costs for each transaction.

Quote from @John Friendas:

As a person with an average salary, I was wondering what the maximum amount of DSCR loans a lender would give out would look like? I have one conventional mortgage and am looking for turnkey rentals, which there are many of in the midwest. How do I get to 5, 10, 20 properties with DSCR? And do they care if I do rent by the room strategies?

Originally, I felt limited by conventional lending DTI.

The downpayment and closing costs would be one large hurdle in order to repeat this, I'm not sure how willing lenders are to allow 3 properties a year. Still learning the DSCR ins and outs. Thanks!

 Hi John,

No cap on the amount of DSCR loans you can get. If you and the property qualify, you can get unlimited amount of DSCR loans. Most institutional DSCR lenders prefer one lease per property/unit, however, I've seen programs allowing rent by room strategies. Just depends on the situation/scenario. Best of luck.

Quote from @Michael Nguyen:

New to this community, heard great things. New investor looking to learn a lot. Thank you in advance. 

As I mentioned I'm a new investor. I am creating an llc with a couple friends as we go into this new endeavor. My questions is. When getting a DSCR loan whose credit score is the lender going to use? Will they require all members or just one?

The highest mid-score of all the guarantors will be used, however, not all LLC members need to be on the loan as guarantor. You really just need one. I'd recommend just having the member with the highest mid score on the loan as guarantor. Certain circumstances may require additional guarantors, however, just one will suffice most times.

Quote from @Erik Galve:

Hi I’m looking for DSRC loan lenders that can with a it h 55-75-90k purchase price properties and that can do 15% money down. Any one know of any? 

Lowest minimum appraised value I've seen for DSCR is $75K. Purchase price can be a tad lower, however, you'll still need to meet the minimum loan amount threshold between $50K-$55K. Done this many times.