Sharing what are some of the things I think may be on the horizon for DSCR Loans in 2024 - inspired by a lot of comments that pop on these forums. 

Also, per their numbers they are buying for 37 mil, debt 24 mil, equity 20 mil, 44mil minus 37 price = 7 million in closing costs, which is 35% of the total equity, RE commissions of say 4% total 1.5 mil so they are taking 5.5 million in fees up front as well minus the inspections/loan fees etc.

if this is an owner occupied property and the loan was used by the owner to buy the property to live in.. then they are by federal law able to request a 3rd party mediator to meet with them and a representative from the bank and try to work out a re pay planthe issue is many in foreclosure never follow up on this and basically waive their right to this meeting. that would be step number one get into the federally mandated mediation if the owner and the property qualify.

Hi Cody - DSCR loans are a great tool in these types of scenarios.

For lending, yes, you will be limited when it comes to conventional lending, as those loan products are made for owner-occupied properties.

We do BRR to Buy and Hold no need to sale for that DSCR loan strategy,  your partner should be the bank. 

Currently, I have been using my VA loan.

My question is can we use the rental income to qualify for a loan?

My current rentals are all in my personal name with conventional loans.

Stay tuned for the refi for final cash left in the deal & monthly cashflow!