If you're attending BPCON, I wanted to let you know that the day after the conference, on October 9th, I will be joining my daughter, Krista, and her company, Gateway Investors, for a property tour in Tulum.

Verifying last 2 years of rental history very important!

Beyond that there are hard money lenders who charge higher rates to take on more risk... but they again start by looking at you, your skill set, and your previous experience in both managing your credit, as well as your real estate investment history.  

Would like to find someone that has a positive history rather than going to a rando.

Verifying last 2 years of rental history very important!

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Most DSCR Lenders will require the property to be rented for a refinance (or if used as an STR for example, have some STR history)  You may be able to find an option for refinancing prior to leasing, but it will make it more challenging and will likely need a "good reason" more than just speed3.

One had been rented by the same couple for 7 years, one needed to be cleaned and some repairs, and the other had been in the middle of a remodel when the original owner died and his 4 daughters who couldn't agree on what day of the week it was decided to sell.Based on the square footage (2024) alone, I got a great deal. 85,500 with 10% down and 10% interest.

Verifying last 2 years of rental history very important!

There are lenders who will let you pull out 75%-80% or so, possibly based on rents vs your own income if you don’t qualify that way, but their rates and fees will typically be higher than conventional loan products, and you may need rental history to go that route.