All Forum Posts by: Bruce Bennett

Hey Bruce,

I recommend working with an experienced DSCR Broker who knows the ins and outs of the industry to guide you in to the right product and pricing for you.

@Bruce Bennett Google Reviews are great and Bigger Pockets reviews are even better! (because they're bona fide by being tied to the reviewers BP account). Bigger Pockets also vets lenders a bit before allowing them to participate in the Bigger Pockets Find A Lender tool so they've already done some of the due diligence for you. 

@Bruce Bennett this is a super important question and it doesn't just apply to lenders.  How do you know that a contractor is any good?  An electrician?  A title company?  Anything?  Even if they do have 20 years experience...how do you know really?  And while nothing is foolproof the most consistent method of finding good vendors is relying on OTHER real estate investors that have worked with those vendors.  This is why we network with other real estate investors - kind of like what you are doing here!

So, let's try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. Some of those facebook groups have thousands of members. The priority is consistent recommendations from active investors.  Oh, eventbrite too. But post locally for this. That’s the best bet.

@Bruce Bennett 

It's great that you're being cautious when researching DSCR lenders! Scammers do exist, and it's smart to verify a lender's legitimacy before moving forward.

Check Reviews and References: Look for reviews on trusted platforms like BiggerPockets or Google. Reach out to fellow investors in your area to see who they've worked with. Local references are invaluable because those lenders have proven themselves in your market.

Work with Reputable Companies: Some well-known DSCR lenders with a solid reputation include Lima One Capital, LendingOne, Kiavi, RCN Capital, Visio Lending, and Easy Street Capital. These names frequently come up in investor circles because of their reliability.

Speak Directly to Their Team: Legitimate lenders will have knowledgeable representatives willing to explain their loan products and processes in detail. Pay attention to how professional and transparent they are.

Avoid Pressure Tactics: Scammers often pressure you to act quickly. A good lender will give you the time to review terms and ask questions.

Hey Bruce ! Yes absolutely . You can do a cashout refinance with a DSCR and then use that as a down payment for your purchase DSCR . What is the scenario looking like ?