I'm currently shopping for my primary residential (PR) property w/VA loan. How long should I wait to buy a rental property with DSCR after I purchase the PR property?
Jeff I'm a real estate attorney and I'm impressed your content. Hope you don't mind me asking this random question...is that a real or a virtual background. It looks natural, but it's so consistent that I'm thinking it's not. Whatever it is, how'd you do it? Thanks.
This was amazing. So i just bought my first home. Of course i got the itch and want to get into investment properties. Is it frown upon to want to dive into investments so soon? How long should i wait? New sub here🎉
Great video Jeff! Quick question, does dscr loan have cash out refinance options as a conventional loan? Say if my investment property (initially bought with a dscr l of an) improved significantly after my renovation and I got it reappraised for $200k more in value in a year, can I take out that 200k cash in a cash out refinance in a dscr loan situation? Thank you so much!
I am currently in the process of buying an investment property with DSCR loan. Concerning the mortgage application, is it advisable to use my name or the LLC? If my name is used for the mortgage application, will it affect my credit score and the ability to purchase more investment properties?
@@JefftheMortgagePro Thsnks for your response. Please I was specifically asking about using my name for the mortgage loan application. If I use my name how would that impact my credit score and ability to purchase additional properties?
Want to discuss the pros and cons of DSCR loans? Let's chat: calendly.com/jeff-trevarthen/15-min-call
Thank you for your content. You got a new subscriber here. What are your top 3 companies you recommend or like to use for a dscr loan ? Thanks again
Hard to say, there's so may niches. I like Emporium, RCN Capital, NewFi, and Visio.
How much money do you have to come to the table with in order to actually get the ball rolling
Great question! Usually 20% down, plus closing costs, plus reserves left over.
I'm currently shopping for my primary residential (PR) property w/VA loan. How long should I wait to buy a rental property with DSCR after I purchase the PR property?
Depends on your financial situation, but you can start right away!
Jeff I'm a real estate attorney and I'm impressed your content. Hope you don't mind me asking this random question...is that a real or a virtual background. It looks natural, but it's so consistent that I'm thinking it's not. Whatever it is, how'd you do it? Thanks.
It's a green screen! 😆
This was amazing. So i just bought my first home. Of course i got the itch and want to get into investment properties. Is it frown upon to want to dive into investments so soon? How long should i wait? New sub here🎉
You don't need to wait. You can start right now. 😀
Thanks for explaining the difference. Do you do DSCR loans in Tennessee?
Are you still able to do a rate buy down for this kind of loan?
Yes absolutely.
@ amazing! Appreciate it man!
Great video Jeff!
Quick question, does dscr loan have cash out refinance options as a conventional loan? Say if my investment property (initially bought with a dscr l of an) improved significantly after my renovation and I got it reappraised for $200k more in value in a year, can I take out that 200k cash in a cash out refinance in a dscr loan situation?
Thank you so much!
Yes you can definitely do cashout. Reach out to me as I can definitely help. 😊
Is it possible for the seller to pay the closing costs?
I believe you can get up to a 6% seller credit on dscr, so yes that's possible.
Where can i find a good dscr loan?
I can help.
@@JefftheMortgageProso what do I need to come up with in order to get going.
Do I have to provide money up front.
I need to speak with you. Dont see a calendar link
Happy to help! Here's the link:calendly.com/jeff-trevarthen/15-min-call
If you need to speak sooner, please send me an email directly jeffreyt@barrettfinancial.com
Hello Jeff
Hello.
DSCR down payment has to be seasoned for 60 days?
Depends on the source, but potentially yes.
I am currently in the process of buying an investment property with DSCR loan.
Concerning the mortgage application, is it advisable to use my name or the LLC? If my name is used for the mortgage application, will it affect my credit score and the ability to purchase more investment properties?
There's so many variations with different lenders, it's hard to give you an accurate answer. I'd close in an LLC.
@@JefftheMortgagePro Thsnks for your response.
Please I was specifically asking about using my name for the mortgage loan application.
If I use my name how would that impact my credit score and ability to purchase additional properties?
Jeff, I am a founder of a non-profit organization that want to house women who have been victims of domestic violence. We have NO FUNDS HELP US