I have 2 options:- finance the construction pre-selling the apt, and take my profits (expected to be around 700K pre-tax); or- finance the construction with a 6-7%/year loan (collateral = my house), keep the 10 units, and once the building is completed in 24 months, rent them for circa 180K/ year gross.

You borrowed $388k and you’ve paid your loan down to $384k with your $30k in payments.

Hi Amanda, I think this is where most borrowers get confused on a DSCR loan.

If they say Service Link, find another house.

I've helped people with SBA loans to purchase real estate for a business, but for buying rental real estate, the DSCR loan is a much better option.

Any referrals or recommendations for good and qualified brokers, sellers, property management companies, loan brokers, insurance brokers, mortgage brokers, contractors, etc.

Since it was over 12 months with my HML, I ended up taking the property under my name with a 30-year conventional loan.

Most DSCR loans allow LLCs to hold title and sign the note.

I know in Philadelphia if I had a 2 BR house it would be viewed favorably by tenants who are seeking 2 BR living situations because most inventory will be apartment style living and for this reason would achieve a rent premium.

@Kwanza P.Leveraged means using a loan (leverage) to buy the asset.