Hello All,I’m curious if anyone has sold a property and used a 1031 exchange to purchase a property of lesser value, while also taking on less debt than the previous loan.

DSCR loans specifically can be pretty FICO score sensitive. 

Some property managers will look at other factors, not just your credit score.

For FHA, the underwriting guide says 75% of the lesser of A.) the leases/rental agreement or B.) the appraisal comp rent schedule.

A basic rule I tell Colorado STR buyers is that you can go cheaper on lesser used items but not the big stuff. 

Yes it is posible to get a DSCR loan as a foreign national with no credit score, employment or current real estate ownership.

My max purchase price will be $400,000, my FICO score is around 720 and Experian VantageScore is around 760.

So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance:Property Tenant Pool: closely linked to location, but not always.Property Location: closely linked to tenant pool, but not always.Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.

Credit score is excellent and the property cash flows, so I'm hoping this will be a relatively easy process. 

This list was created using the Home Price Forecast Score on Reventure App.