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All Forum Posts by: Jessica Tsao

Jessica Tsao has started 6 posts and replied 71 times.

Hi Sandy,

I think we can all agree it's fishy...

I can help and refer out.. I am licensed in California and we have options for out of state as well.

Hey Jennifer,

I have been in your situation. I took out a DSCR loan myself. I am a fan of DSCR loans and it really is a great option. It uses the total rental income from your investment property to qualify. No need to use your personal income. You can cash out refinance. It depends on the ratios. Which means.. how much you receive in rent vs the expenses of taxes insurance etc.

Happy to share if you have questions... I am in California as well.

Cheers, Jessica

Anyone with a good experience and good referral for a property management co in Yuba City, CA?

Thanks in advance

Post: Michigan Short Term Rental Lender

Jessica TsaoPosted
  • Lender
  • CA
  • Posts 82
  • Votes 46
Quote from @Matt Allen:

I'm looking for a lender for an STR property in Michigan. Does anyone have any recommendations?


 Hi Matt,

I have an investor in Michigan as well and have helped with DSCR loan products.. Happy to answer any questions.

@Chris Claflin I am looking for property mgt in Charoltte. Can you help? Thanks!

Jessica

Post: New Investor Looking to Get Started

Jessica TsaoPosted
  • Lender
  • CA
  • Posts 82
  • Votes 46
Quote from @DJ Kleinbard:

Hey Everyone, I am in the process of educating myself as prepare to dive into real estate investing, but I'm finding the biggest obstacle, as I'm sure it is for a lot of people these days but especially as someone living in the Tri-State Area, is affordability. Would love to hear from some experienced investors in the area as to how they combat this.

I am specifically located in Northern NJ. I have no debt, a high credit score, and a good chunk of cash saved up for a down payment, but I have struggled finding a lender that will lend me enough to buy anything in the area because I still work an entry level freelance job for my main source of income. Would love to hear from some others on this forum!

Thanks in advance,

DJ


 
I did a DSCR loan on my property. Happy to connect and answer questions.
there’s hard money lenders that will lend up 80% with no experience. 😊

Post: New Investor Looking to Get Started

Jessica TsaoPosted
  • Lender
  • CA
  • Posts 82
  • Votes 46
Quote from @J Zev J.:

You could try a DSCR loan which looks at the asset and not your income.


I did a DSCR loan on my property. Happy to connect and answer questions.
there’s hard money lenders that will lend up 80% with no experience.  😊

Post: Keep home as rental in CA, moving out if state

Jessica TsaoPosted
  • Lender
  • CA
  • Posts 82
  • Votes 46

My belief is if you can keep it. Always keep it. As CA real estate always has value.  when you sell, you pay realtor fees, closing costs. If you want $$ cash. Refi and cash some out for additional investments. It’s always cheaper than paying 5-6% in repair fees and closing costs. I am sure everyone has a different opinion. That’s my 2cents. 😊

Cheers 

@Joe S. sorry to hear, that really suck! 

I have a couple options for Mississippi. What’s the loan amount? There are minimum loan amounts. Maybe I can help. 

Post: Flip vs cash out refi

Jessica TsaoPosted
  • Lender
  • CA
  • Posts 82
  • Votes 46

@Marshall Secord I did one on one of my rentals so DSCR loans can work, you can cash out refi up to 75% LTV. You can typically close 10 days after appraisal. Using the rental income as qualifying not your income and the loan can go into your LLC. It will not show up on your credit report which I personally like. So it will not affect your DTI when you to use your personal credit lines. But as Joe said, it depends on the numbers and also your goals. Hope this helps.