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All Forum Posts by: Win Hopkins

Win Hopkins has started 1 posts and replied 4 times.

Post: DSCR with No Minimum Square Footage

Win HopkinsPosted
  • Investor
  • Lehigh Valley, PA
  • Posts 4
  • Votes 0
Quote from @Andrew Zamboroski:
Quote from @Win Hopkins:

Does anyone do DSCR loans on very small properties? ARV is just north of $100k. Stand alone house on land in an urban area. Thanks!


If 100k ARV and 600 sqft, I would think you will be in okay shape with this one. A DSCR lender like myself should be able to help.


Thanks for replying, Andrew. Unfortunately it's smaller than 600 sf. I would think small houses are easy rentals. No families to destroy things and someone gets the benefit of not living in a 1 bedroom apartment with attached neighbors. I may just pay cash and throw it back on the market if I can't find a solution.

Post: DSCR with No Minimum Square Footage

Win HopkinsPosted
  • Investor
  • Lehigh Valley, PA
  • Posts 4
  • Votes 0
Quote from @Randy Halverson:

I think 100k is enough for DSCR in an urban location. Are property values increasing? Is the job market growing?


Yes and yes. We are still getting multiple offers on properties with inspections waived. Prices are up about 10% YoY. DOM is up a week, to 31 days.

Post: DSCR with No Minimum Square Footage

Win HopkinsPosted
  • Investor
  • Lehigh Valley, PA
  • Posts 4
  • Votes 0
Quote from @Erik Estrada:
Quote from @Win Hopkins:

Does anyone do DSCR loans on very small properties? ARV is just north of $100k. Stand alone house on land in an urban area. Thanks!


 You will definitely need an exception if the home is under 600 sqft. If it's over 600 sqft, then you should be ok. 

The harder part is the lower property value. Is this property already completed/rehabbed? DSCR lenders only finance turnkey rentals


 It's ready to be rented already. I will paint and put new carpet down.

Post: DSCR with No Minimum Square Footage

Win HopkinsPosted
  • Investor
  • Lehigh Valley, PA
  • Posts 4
  • Votes 0

Does anyone do DSCR loans on very small properties? ARV is just north of $100k. Stand alone house on land in an urban area. Thanks!