The Benefits of a DSCR Loan for Taking CASH OUT on your Investment Property! 😮😮
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- Опубликовано: 11 сен 2024
- 🏡 Welcome to our latest video! Discover the incredible advantages of utilizing a DSCR loan for extracting cash from your investment property. 🌐🔑 Learn about investment property financing, cash flow strategies, and the financial benefits of a DSCR ratio. Whether you're a seasoned investor or a newcomer, this insightful guide provides valuable tips and insights into maximizing returns on your real estate investments. 💰📈 Explore the possibilities and make informed decisions for a prosperous real estate journey! #dscrloan #realestateinvesting #CashOutStrategy
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Video Details:
The Debt Service Coverage Ratio (DSCR) loan is a unique financial instrument designed for residential (1-4 unit) investment property owners looking to access cash from their property without the need for income or employment verification. This innovative loan product calculates borrowing potential based on the property's ability to generate sufficient rental income to cover the loan payments, rather than relying on the borrower's personal financial credentials.
To use a DSCR loan for taking cash out of your residential investment property, follow these simple steps:
Determine Property Cash Flow: Calculate the property's net operating income (NOI) by subtracting operating expenses from the gross rental income. This will give you an accurate representation of the property's cash flow.
Calculate DSCR: Divide the NOI by the annual debt service (loan payment) to find the DSCR. Lenders typically look for a DSCR of at least 1.2 to 1.4, indicating the property generates enough income to cover the loan payments with a buffer.
Select a Lender: Research and choose a lender that specializes in DSCR loans. These lenders understand the unique nature of these loans and can guide you through the process with ease.
Prepare Documentation: Although income and employment verification are not required, lenders will need documents such as property tax bills, insurance declarations, leases, and a rent roll to verify the property's income and expenses.
Submit Application: Complete the lender's application and provide the necessary documentation. The lender will then review your application and provide a loan decision.
Close the Loan: If approved, work with your lender to close the loan, and access the cash-out funds from your investment property.
By leveraging the DSCR loan, you can unlock the equity in your residential investment property without the need to verify personal income or employment, providing a streamlined financing solution for savvy real estate investors.
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Jeff Trevarthen #jefftrevarthen #realestateinvesting #propertyfinance #investmentproperty #cashoutrefinance #dscrloanbenefits #realestatetips #propertyinvestment #financialstrategies #cashflowinvesting #wealthbuilding #realestateeducation #investmentopportunities #financesmart #propertywealth #dscrratio #investmentinsights #smartinvesting #realestatecashflow #financialfreedom #propertyinvestor
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Schedule a call with me to talk about how to get cash-out quickly with a DSCR loan: calendly.com/jeff-trevarthen/15-min-call
Great video! Thanks for the education.
Thank you!
This is such a great loan for anyone that has an investment property. Hit me up when you're ready to talk more about it!
appreciate your videos easy to digest 🙏🙏
Thank you Tomas!
Question: how do you prove you received that much of rent $$ every month? By lease? Because you know we all write off everything on tax return every year
Just looking at lease income and may have to show the history of receiving income. Not using tax returns.
@@JefftheMortgagePro for a new investment they can also pull comps to underwrite for rents, right?
Will this work on a property with a modified loan 10+ years? Can the cash be used on the purchase of new primary residence?
Not totally sure. Cashout has to be used for business purposes, so probably not able to buy a new primary.
Question: if 1 of my property meet DSLR refinancing requirements, but my other properties have negative cash flow. Will I get denied if I use that positive cash flow property to apply for DSLR refinancing?
You should be fine.
In case I missed it what % would you do on a cash out rental loan? anyway you would go up to 80%? Thanks
Yes, up to 75% in most instances, sometimes up to 80%.
Do you deal with new jersey DSLR loans?
I can help!
We have a property we have been living and and renovating that we own outright and want to get a DSCR loan out of when we move out and short term rent it. It's an A frame worth way more now than when we bought it and in a perfect location for airbnb. How long do we need to rent it out to prove it's rental capacity to generate income first before we can apply for the loan?
Great question. We should be able to do it as soon as you move out. Rental income will be determined by a rental survey.
i have a paid off home cash flowing around $800 a month how many months rent before i would be approved for the dscr loan? or is it automatic with my lease agreement?
You can do it right now if it's free and clear which it sounds like it is. Let's jump on a call: calendly.com/jeff-trevarthen/15-min-call
@@JefftheMortgagePro I am currently working on getting all of my credit card debt paid off, which would take about a month after that I would be ready I will come back to this link later too. Talk to you when I’m ready. Thanks.
What is least percentage I can put down on a DSCR with your investors? 10-15%?
It's changed since I recorded the video. 25% is the standard now as credit has tightened. 👍
Is that for purchases or Refi ?
What about cashing out of primary residence
You can do that but not with dscr.
Hey, how can I get the 20% down for the DSCR Loan?
Great question! Let's jump on a call: calendly.com/jeff-trevarthen/15-min-call
Do you fund deals in Puerto Rico?
Unfortunately no. 😞
Does this work for BRRR strategy deals ?....Is their a holding time required (Say 6 months or 1 year) b4 refinance for invesor rehabbers after fixer upper is bought & fixed up with hard money/private money ?
Not usually...typically not enough equity.
Can i fund my down-payment for a hard money loan with a private loan from a private money lender, thus buy and refi with dscr loan with no money out of pocket?
Yes potentially if I understand correctly. The dscr is based on cash flow and equity of at least 25%. So if you meet those parameters it would work.
@@JefftheMortgagePro tnx!
I have some questions on this type of loan. How do I get in contact with you?
calendly.com/jeff-trevarthen/15-min-call
Interest payment only?
Yes that is an option.
Hello anyway possible I can speak to you as soon as possible I can send you my email or phone number.
I'm confused about this loan but looking into it on a property I have at the moment
Oh it's an option but is not a must Okay
Thank you soo much for this info.
Can you take one DSCR loan out on two or three houses?
Great question! I don't have a product like that, but not to say that it doesn't exist.