All Forum Posts by: Dan Santonocito

When looking for a DSCR lender, do you have to find one in the area you are looking to invest in, or does it make more sense to find a national provider? Looking to purchase a STR in North Myrtle Beach later this year and trying to find a good DSCR lender. There's a million Google results, but looking for a good recommendation.

Just wanted to say thanks for the above posts. As a business owner who enjoys the tax deductions of it, I've been struggling for the past year about DTI, W2s, and how to break into the STR market. After reading your posts, it finally clicked that I've been looking at the wrong types of loans, and I should research portfolio loans.

Quick question, it looks like nobody publishes their rates for these types of loans until you contact them, but what is generally a good rate that I can use in my calculations? I like to do all of my homework before I start contacting prospective lenders.

I am in the exact same boat as you and have the same question. I have a ton of equity in my current home and thanks to PPP and covid, I had enough tax deductions from my current business to actually have a negative income last year, even though I made plenty of money. Every small CU and bank I talked to wouldn't help with a negative income on paper, so I'm curious what options are available.