One property is a condo (in CA) that I rent out, and the other property is a house (in NV) that I live in and rent out the other rooms.I quit my W2 job last year to start a business, which is slightly profitable today, but I reinvest everything back into the business.I have a bunch of cash saved up and am comfortable deploying $100K into another property in Las Vegas ($80K down payment + $10K furnishing + $10K margin).The only problem is that I’m not sure how to finance my next house without W2 income.I talked to a few lenders about DSCR loans, and most say they calculate rental income based on the entire house, instead of by the room.I would love to get the creative knowledge of the BP community on how to fund my next home 🙏🏼I'm also open to any lender referrals 😊

To echo a lot of previous comments, regardless of the lender you are sourcing financing through, the experience aspect truly depends on the loan officer that you are working with directly. 

However, so many people want to invest without any money (kinda the antithesis for investing), that the brrr is starting with financing which is adding to the comlication.Good luck.

Unless you are aiming for appreciation, it would make more sense to use some leverage through financing.

Auction How did you finance this deal?

I guess this isn't the worst thing, since the low rate on the first mortgage would offset much of the higher rate on the 2nd.4) Refinance the entire property at whatever I can get - 7% or so.I'm just wondering if there is a solution where I can really take advantage of the low rate on the first, offer the property out to buyers with a wrap loan and drive up the asking price because it has built in financing with a fantastic rate.Any ideas shoot them over!!

Off Market How did you finance this deal?

Off market How did you finance this deal?

Does your finance have a website that I could visit?

Conventional financing, buying with cash then refinancing after rehab, partnering if needed, heck even using hard money might be preferable here rather than taking on the additional risk of using subto, without much benefit because of that high rate...