All Forum Posts by: Thomas Lebens

Property managers, brokers, lenders, contractors, and wholesalers! We’re looking to build a portfolio of small to medium multifamily properties in Cincinnati over the next few years.

If you have experience in this market, or if you can send us a solid referral, let’s talk.

2 Votes

Cincinnati, Ohio

Quote from @George Duchatelier:

Quote from @Remington Lyman:

Quote from @George Duchatelier:

My partners and I are interested in purchasing our 2nd rental property somewhere in OHIO. Due to the fact that i have 2 rental properties already in MY name, I know going the traditional route wont work. (I bought a duplex with my partners and a SFH with my wife) I found a post on IG where you can get a DSCR loan. I'm interested in finding a lender that I can contact to see about qualifying and possibly purchasing another rental property some time in 2023. Any information would be helpful and grateful. Thanks!

I can send you some lender referrals Ohio.

I appreciate it! I’m going to go with the lender that took care of my 2nd house. I didn’t know he deals with dscr loans.

I just came across this thread, and I'm in a similar situation. Can you send me some of those lender referrals?

0 Votes

Cleveland, Ohio

Quote from @Justin Hammerle:

@Thomas Lebens - if this is your first property and you plan to occupy why not consider an FHA? You can refi into a DSCR at the 1-year mark, buy another - rinse and repeat.

This first property would not be owner occupied, but that's probably what we will do when we move and buy our house hack. Thank you for the idea!

1 Vote

Cincinnati, Ohio

What's up everyone!

I'm a new investor shopping in the Cincinnati market, and I just want to make sure I'm starting on the right foot.

Here's the back story: My wife and I are about to move states, and when we do, we will be shopping for a house hack, but in the meantime, we want to get our feet wet with a small multifamily property in Cincinnati. This property will be the first of many, and we hope to continue scaling in Cincinnati over the next few years.

To start out, our plan is to buy and hold a cashflowing 2-4 unit property using a DSCR loan. I have a few reasons for this. 1) We are both self-employed and our income is inconsistent. 2) We don't want to impact our DTI, because we are planning on buying a house hack within the next year or so.

We would be open to going up to 6 units for our first property as long as it's within budget.

Now that you have some context, is it possible for a rookie to use a DSCR loan on a duplex or triplex? (Any lender recommendations? What LTV? Anyone done this before?)

Would my previous industry experience (property management, acquisitions, asset management, Realtor) improve my chances of qualifying for a DSCR loan?

Am I approaching this the right way, or am I missing a better alternative?

Thank you in advance for your insight! I look forward to giving you all an update when we close on our first property!

2 Votes

Cincinnati, Ohio

All Forum Posts by: Thomas Lebens

Thomas Lebens has started 7 posts and replied 14 times.

Post: Let's Do Business In Cincinnati!

Post: How do i find a DSCR lender in OHIO

Post: Can a rookie use a DSCR loan for a duplex?

Post: Can a rookie use a DSCR loan for a duplex?