How To Use DSCR Loans and Fix and Flips Loans to Be a Property Investor

✔️The Michigan Loan Officer 🧑‍💼✔️ First Time Homebuyer Specialist 🏡 ✔️ Helping Michigan First-Time-Homebuyers Buy With Confidence ✔️

Want to be a property investor but don’t know where to start? Well, I got you and here are the steps to take. Step 1 make sure you buy your first primary property first. Step 2 created an LLC. Step 3 Make sure your credit is above 660 and you have at least 15-25% of the purchase price for your down payment. Next start looking for properties that need work and have a good after repair value. Sub to the channel and more videos on these topics coming soon!

Timestamp
00:00 Intro
1:58 Why work with Tim
3:00 What is a DSCR loan
4:44 DSCR rental loan requirements
7:57 How to calculate DSCR
10:17 Who is a DSCR loan best for
11:23 Steps to get a DSCR loan
12:55 What is a Fix and Flip Bridge Loan
14:10 Fix and Flip loan requirements
15:16 How is ARV calculated
15:45 Example of a fix and flip
18:09 Steps to get a fix and flip loan
19:26 Portfolio loans
20:48 Questions
20:58 closing remarks

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Helping Michigan First-Time-Homebuyers become educated on the home buying process without becoming overwhelmed or feeling like they’re getting taken advantage of. This channel has daily video and shorts on topics related to financing, tips on how to manger money, reviews, and helping real estate professionals.

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[candaceblair]

For anyone that’s confused….

•DSCR= Debt service coverage ratio loan. It also says it in the presentation. •You can buy a rental with an FHA if you have an extra unit and live on the premises (called owner occupied) so think 2-4 units. But you can’t get a DSCR loan and live on the premises. If you want to go straight into investing and not buy a home for you only first, this (FHA for multi family) is a great option with lower interest rates and less money up front.

[cindysierra]

Hello Tim I’m a new investor and need help on the process of how to use hard money for the purchase and rehab of a home

[royhoward]

The down payment, can you use private money lenders? Or do you have to have that cash available in the bank?

[ausdlantein]

One question if i am being self employed for 5 years same business and I change to w3 same job truck driver what FHA loan required

[CrystalReynoldsRealtor]

Is that DSCR equation correct? $1, 400-$1, 000=$400 then $400/$1, 000 = .4
Am I reading that right?

[Resto]

A lot of your information is a little wrong. You can get 2-4 units using fha, and i think you can use VA also by house hacking using the 75% of the property revenue. The ratio is actually 1.25 minimum, and that's with really good credit and really solid cash flow. Now I do understand that maybe at the time of your video, those were the numbers since they always changed. But overall, thanks for the information.

[melodyn]

Question: if 1 of my property meet the DSLR loan requirement, but my other properties have negative cash flow. Will I get denied using that positive cash flow property to apply for DSLR refinancing?

[michaelakinyade]

Can u use the DSCR loan for the BRRR strategy?

[jackies]

Wait… Wait… If I buy my house first, I am not going to buy another unless I sell the first one. You lost me when you stated buy my first home so I can learn the mistakes, the headaches, and how broke I will be.😢😢😢😢😢. I was told to purchased a four unit rental property so I can earn my $10k per month (minus expense). But here, you are telling us NO! First one a home?? What???

[Karthikvemal]

can visitor visa immigrant get a DSCR Loan ?