Invest In Real Estate Without Income History (DSCR Loans)
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- Опубліковано 28 сер 2023
- In this video, we'll be discussing Debt Service Coverage Ratio loans, or DSCR loans, and how they can scale your real estate investment portfolio.
DSCR loans might be easier to qualify for, but they can be confusing if you don't know how they work.
In the past, I originated millions of dollars of DSCR loans and know exactly what lenders are looking for to help you get the best rates!
In this video, I'll explain how DSCR loans work, why you'd want one, and what you can do to get the best rates.
✅ If you are looking for a DSCR loan then you can fill out this form and a Conventus team member will reach out to help you
🔗 forms.gle/bLFAqcWEWJ8y8W669
If you let them know that you came through this video, they'll even give you a discount on your processing fees!
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*Please note that the information in this video is for educational and entertainment purposes only and should not be taken as financial or investment advice. Any investments or financial decisions you make based on the information in this video are at your own risk. The links in the description above may include affiliate commissions or referrals, and I may receive compensation from partner websites. The information in this video is accurate as of the posting date but may not be accurate in the future.
✅ If you are looking for a DSCR loan then you can fill out this form and a Conventus team member will reach out to help you
🔗 forms.gle/bLFAqcWEWJ8y8W669
Hey Sean thanks for all the great videos, I am 15, been working since I was 14, have been investing 25% of every check, and I am hoping to buy a fourplex when I turn 18 and renting 3 of them out, living in one and I love your videos they help me learn all the things I need to learn, so thank you so much for your videos!
Wow! You started early and it’s nice to have a solid plan. Keep on learning and grinding! ☺️
The best video explaining DSCR loans that I've found on UA-cam!! Great job.. I've subscribed.
Actually just spoke with a lender yesterday to do a DSCR loan for the first time and I decided to do the 5 year prepayment on a property that I'm refinancing out of a bridge loan now. Your info helped me to see that this was a great choice. I was very concerned about going this route instead of a bank, but the bank can't/won't do the loan. So glad for this option!!
Keep making great informational videos.
Thanks so much!!
Glad it was helpful! Welcome to the channel ☺️
@@seanlovesrealestate Thank you. I already settled on that property with a fixed 30yr DSCR loan a few weeks ago. Very happy with how that went.
A friend of mine found the information for DSCR Loan... Didn't know this existed... Thank you for the information. Stay blessed
Hey Sean, may I ask is your masterclass available for kids? I’m twelve 😅 thank you❤ love your vids
You'll learn a lot from it but you probably won't be able to do anything with that information just yet!
Great video! Thanks for sharing!
You’re welcome!
Wow this video was golden!
Great video, DSCR loans are one of the most useful tools for investors who want to grow their portfolio and dont want to deal with the hassle of producing all their personal financial statements etc
Thank you for watching and the feedback. ☺️
Absolutely! @@seanlovesrealestate
great video! been in RE for 3 years and want to start using DSCR loans
Thank you! Best of luck on your real estate journey ☺️
Thanks for making these videos! I'm 25 now and would love to be where you are at one day ❤
No problem! Keep learning and best of luck on your journey! ☺️
Thanks my g !
No problem! ☺️
👍 Thanks!
Appreciate you watching! ☺️
You are the legend I wanna get into real estate too but my parents are strict and I am only 10 years but I hope I sudsed like you!
Succeed sorry missclick😊
Keep on learning while you’re still young! Appreciate you watching ☺️
Question: 1 of my property has more than 1.15 positive cash flows, but my other properties have negative cash flow. Will I get denied if I apply for the positive cash flow property's DSCR loan?
Hi I love these vids. I bet you made atleast one person Rich
Thank you! ☺️
For how long I can do a cash out refi after I purchase a fixer upper ???
LOVE your Instagram channel!!!
Thank you!
Can llc hold a dscr loan? If dscr loan is based on rent roll, is the qualification for loan available when you identify the property?
Show me how please, I'm looking to buy in September/ October 2024
18% mortgage rate over here in Uzbekistan only for newly built homes or 25% for a secondary home, basically im screwed either way.
Uzbekistan has high rates and the minimum down payment over there is 15%. Its a developing country so in order to win in my situation is to partner with a investor, but there is a problem im turning 19 this year and there is no way i can convince my parents or someone elderly to follow through, yet all this wont stop me and i will push through and win my FREEDOM.
That’s so high! Anyway, keep on grinding and don’t let it stop you achieving your goals! Best of luck!
Will do!
Can you use business credit
Hey Sean, how can I get the 20% down for the DSCR Loan?
For dscr loans do they need to use your SSN?
Is there any way a veterans COE can be used with a dscr loan? Sorry if that’s a dumb question😂😅
I want too buy a four plex worth 1 million. In the DC area, my credit 710 and i have the 20% down. But my income and my two other rentals would make the bank only qualify me for less than that amount i have 6 months of reserves..my question is do you think i should go with a DSCR loan? Your thoughts would be helpful
Is there a limit to how many properties you can refinance out of a DSCR loan into a conventional loan?
If you have a partner where you both own an LLC. Do they take the average of both your scores? How does that work?
Love the videos just a little to fast
Thank you! I’m working on that! ☺️
how do you feel about section 8 investing?
Depending on the market, Section 8 tenants can be better than regular ones!
Can a DSCR Loan be used on a foreign property like a condo in Mexico to rent out on Airbnb?
Hi Sean. I live in East Coast Florida.
I am finding extremely difficult to buy ( i known the market situation) but its kinda hard to believe I CANT buy anything in Florida. Ive been turned down couple times. But life charged for better and still not able to "afford it " to buy, at least is what ive been told by a realtor/broker.
I have a pretty stable job $76000, 805 credit score, car paid off. No student loans, no morgate and first time buyer. What am i doing wrong? Love love love your vids and have learned alot with you.
that crazy , you might have to join a class
Are you looking for a 2 million dollar house? 😂
Can dscr loan been used on property in another state?
Why not
Greetings, can I get a DSCR loan for an overseas property?
I don't think they offer that for overseas properties
Hey sean im 15 and im looking into real estate can you give me any tips
That's awesome! Look into saving and increasing your credit score as much as you can before you turn 18.
What is your minimum loan amount?
shouldni not do a cash out refinance in general with a dscr loan? im wanting to use a heloc to fund a down payment and i need the cash out refinance for my exit strategy i dont need it right away i want a somewhat long term investment property to rent out but depending on what i am offered i will cash out refinance on the very last year of the point system to pay off my heloc any advice eith this strategy would be helpful from you or anyone else in the comments
Why nobody really talks about the down payment requirements on these loans
Also what is the best job for money if I’m passionate about any job that has something with math or science
That sounds like an engineer in the making! I studied electrical engineering but computer science degrees seem to make the most at the moment.
@@seanlovesrealestate I figured because I did research and found out that a doctor or engineer are problem the best for science and math realted ones
Also is computer science for software engineers like what engineers can they be
Hi
Hey!
What jobs are good to start investing
I started as an engineer, but really, any job that can give you enough to support your lifestyle while also enabling you to save and invest is good. Obvious synergy jobs would be a real estate agent or mortgage loan officer since it'll give you experience with the market and getting financing on your deals. Good luck!
Still need 20 % right ?
Unfortunately yes, sometimes even 25%!
@seanlovesrealestate yew that's a big drawback I have good credit but not much capital how can I get into real estate investing leverage debt OPM
@@WallStreetIceCreamI wonder if you can get a personal loan for that 25% before getting the DCR loan..?
Do you need a real estate certificate to do real estate if not what is it for
You don't! I'm not sure what a real estate certificate is, but a real estate license is if you want to help other people buy and sell homes.
Can you rent the same investment property lol ?
Anybody ever used a HELOANS?
This an ok finance strategy but NOT THE BEST WAY TO FINANCE. They charge too much fees, points, high down payment, high interest rates. Is not my first go to for sure. But is an option
So what would you suggest?
Seriously
Let me ask: is this a great last resort for people with no other options? Say I have a 780 credit score but they are maxed (no lates or bad marks though). Could I get one for a purchase to create rental property after purchase? 0 down?
Sean im new to real estate, if you put down 20-25% on a duplex how long is the lease for. Is it 6 months on that one time payment or?
Thanks for the question! I think you're getting a bit mixed up with the terminology. If you put down 20-25% down on a loan, your mortgage term length will usually be 30 or 15 years, depending on what you want. A lease is how long a tenant will rent out your place for and those are typically 12 months at a time.
The 6 months in reserves is not a one time payment, but a bank account check that the lender will do to see if you have enough money in case of an emergency (job loss or vacancy). Hope this helps!
If you are from the USA and need money you just have to write to me private. You just need a bank account
If you are from the USA and need money you just have to write to me private. You just need a bank account