All Forum Posts by: Tekoa Glover

I have found 25 Storage Units I can purchase for 125000, with 20 units rented out. The rents total $1,100+ monthly. I want to purchase them using a DSCR and need help with this deal. Is it possible to do. The place also sits on a little over a acre and has room for expansion.

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Greenville, South Carolina

Quote from @Brittany Minocchi:

Quote from @Tekoa Glover:

Quote from @Brittany Minocchi:

You mentioned that you recently acquired them - are you looking to refinance into DSCR loans then? Rate term or cash out? Are they in your name or an LLC? Long term or short term rentals? That will have some bearing on what type of policy you put in place.

Thanks for the reply. I am looking to refinance into a DSCR because I want to expand. I don't have a mortgage on them. They are in a LLC. I would like to do long term rentals with them.

Any help would be great. I am not afraid to admit that I am a novice,

No worries! You want to pull your cash out of the property then I’m assuming? Did you rehab the properties at all? If not, you may run into issues with title seasoning. Happy to discuss more in depth if you’d like!

Yes. No I did not rehab them. I would love to chat more.

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Quote from @River Sava:

Hi Tekoa -

Congrats on acquiring your rental properties! For DSCR loans, it sounds like you're on the right track. Very familiar with the NC/SC markets and would love to connect with you!

As for insurance, you might want to look into landlord or rental dwelling policies—they tend to cover the specifics for rental properties. Make sure it includes liability coverage and protection for loss of rental income, just in case.

Sending you a dm to connect further!

Thanks so much!

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How long does the title have to season? I have had it since February. I was told by another lender that 6 months is enough. Is it?

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Quote from @Brittany Minocchi:

Thanks for the reply. I am looking to refinance into a DSCR because I want to expand. I don't have a mortgage on them. They are in a LLC. I would like to do long term rentals with them.

Any help would be great. I am not afraid to admit that I am a novice,

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Thanks. What does the DP3 mean

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I recently acquired 2 rental properties. I need help in getting DSCR loans on them. I'm located in Upstate South Carolina. I'm trying to get them insured but don't know the type of policy to get.

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All Forum Posts by: Tekoa Glover

Tekoa Glover has started 8 posts and replied 17 times.

Post: Guidance for Storage Buildings

Post: new to rental business/ DSCR

Post: new to rental business/ DSCR

Post: new to rental business/ DSCR

Post: new to rental business/ DSCR

Post: new to rental business/ DSCR

Post: new to rental business/ DSCR