The long-term adverse impacts if this were ever to come to fruition is the loss of jobs, the loss of tax revenue and decreased property values, all of which Bissen has acknowledged.Some owners are attempting to cash out because they don't want to wait.

Credit score is about 760. 25 year term with a 5 year draw period.Option 1 using max line of credit:At the max loan to value of 89.99% the interest rate increases to 11.5% This is prime of 8.5% + 3%.Line of credit amount: $140,000Estimated interest only payment: $1,245.83Estimated full qualifying payment: $1,489.04Option 2Dropping the loan to value to 80% to decrease the rate to 10.5%.

@Wes Holmes Just to add a bit more meat to the bone of what others have said:It's standard practice for hard money lenders to require a personal guarantee, but once you have significant experience under your belt, lenders are sometimes willing to drop the requirement for a slight decrease in leverage and/or increase in rate.Regarding extra collateral, lenders sometimes ask for this if the deal is too high risk for them as-is, but you have significant equity in other properties that make it wash.

They are allowable per code here but are generally looked at as temporary solutions and to be honest you can get a ring crimper for the price of about 4 or 5 press on fittings... thus cheaper and more durable/leak free to go the crimp ring route..

One way or another, however, the investors must work to pay down loans, increase rents and decrease expenses wherever possible.

It contains more detailed information on investing insights, analytics, and, particularly, investing in Las Vegas.Before proceeding, note that the charts only include properties that fit the following criteria unless stated otherwise.Type: Single-familyConfiguration: 1,000 SF to 3,000 SF, 2+ bedrooms, 2+ baths, 2+ garages, minimum lot size is 3,000 SF, one or two stories.Price range: $320,000 to $475,000Location: All zip codes marked in green below have one or more of our client’s investment properties (click to enlarge).Overall Las Vegas Real Estate Market InventoryThe chart below, provided by the MLS, includes all property types and price ranges.The inventory level continued its downward trajectory, significantly lower YoY.Rental Market TrendsThe charts below are only relevant to the property profile that we target.Rentals - Median $/SF by Month$/SF showed a slight drop MoM, which is surprising considering the decreasing rental inventory and time to rent.

That will determine who's Insurance is responsible for the costs of the temporary living accomedations.3.

I am hoping for a very good prime season to recover some of decreased revenue.   

Underwriting items for DSCR loans include appraisal, credit report, liquidity verification, borrowing entity documents, landlord insurance verification, and whereapplicable lease, verification of rent and security deposit receipt, and property management agreement.DSCR lenders should never ask you for tax returns, W-2 income, pay stubs, or company financial statements.A good DSCR lender can fund your DSCR loan in under 30 days.Pro Number 2: Loan StructureDSCR loans are generally structured as thirty year term, fixed rate and fully amortizing, with LTV up to 80%.To increase cash flow and boost DSCR to qualify for a higher LTV, you can even structure with a five or ten year interest-only period where principal payments are made over the remaining portion of the 30 year term.Most DSCR lenders can fund your loan with DSCR as low as 1.0, though 1.1 is where you will find the best terms.A few DSCR lenders specialize in no and low seasoning cash out refi for rental property investors who use the BRRR strategy.Compare this to traditional banks which generally offer lower LTV, shorter term, higher DSCR requirement, and 6 months of seasoning.Pro Number 3: ReliabilityDSCR loans are a growing component of the multi trillion dollar institutional credit market.While DSCR loan origination volume is growing fast, it struggles to satisfy the demand from institutional investors such as insurance companies, pension funds and credit funds that buy DSCR loans.For this reason, as long as DSCR loan program guidelines for subject property and borrower are met, there is a very high probability that your loan will be fundedwithout delay.Compare this to banks which may subject you to months of underwriting before ultimately rejecting your loan application for reasons unrelated to your application.Con Number 1: Strict GuidelinesThe largest and healthiest part of the DSCR loan industry is 1 to 4 unit residential investment properties in non rural markets where the As Is value and the purchase price is one hundred thousand dollars or higher, and the guarantor's credit score is 680 or higher.If an element of your transaction does not fall within program guidelines, your loan will either be declined or require an exception which can cause delay.DSCR loan program guidelines are constantly evolving to adapt to the demands of borrowers and institutional investors, and to respond to market and risk.A good DSCR lender will knowledgeably and transparently communicate program guidelines, proactively communicate to identify potential issues, and set expectations in a clear and thoughtful manner.Con Number 2: ShenanigansThe DSCR loan industry is fast growing and loosely regulated, attracting loan brokers, private lenders and salesmen who are not knowledgable about program guidelines, not expert in structuring your loan to meet your specific goals, not capable of closing your loan in a timely manner, and not truthful or transparent about loan terms.Con Number 3: Higher interest ratesGiven the demand for DSCR loans from institutional credit investors, the credit spread or risk premium has decreased, making DSCR loan interest rates from the most competitive DSCR lenders nearly the same as bank loans and conventional investment property loans.We should include an asterisk on this con because it is not always true and may not be true in the future.

Even if you are filing an extension I have tried to put some things together here that will help you DECREASE your personal tax liability and INCREASE your income for qualifying for a Fannie Mae and Freddie Mac type of loan.This post is designed to help persons who may need a Fannie/Freddie loan on a 1-4 unit property.