You also have the option to close these DSCR loans in your LLC as opposed to your personal name.Our team finances just shy of 100 DSCR loans on a monthly basis.

Good people gave me work, I learned more skill, more money, worked hard!

I bet you learned A LOT.You can also leverage my team to help you out next time.

Did your borrowers mention securing your investment with a recorded mortgage or deed of trust, personal guarantees, lender’s title insurance, or anything else?

You don’t have to pay $20k+ to learn to broker loans. 

I think if you leverage 70% of it you’re going to seriously cut into your cash flow and personally if I was going to have $7M in debt I’d prefer it to be spread over several projects built slowly.

While they’re out partying, you’ll be home learning, analyzing deals, and honing your craft.

Even at $2200 I don't expect to get a positive cash flow for the first year, but that's okay as long as I rent it out and learn from my mistakes for my next investments.

That's the other challenge that i've learned, with only one month as SD, if the tenant leaves even in a relatively new build the fees add up. 

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.