DSCR Loan for Florida investment

[Laurens Van swol]

We are exploring the possibility of purchasing an investment property in Florida. As U.S. citizens residing in Europe, we are required by the local tax code to hold the property in our personal name. However, our research indicates that many DSCR lenders require Florida properties to be held in an entity.

Are there any DSCR lenders that offer loans for properties held in a personal name?

[Elias Halvorson]

Tons of lenders will do this - just go to findamortgagebroker.com and search your local area. Each one you find probably has 10-30 DSCR lenders they work with that can do this. There is no issue doing it in your personal name.

Personally, I would be careful in Florida. I am biased but I see property insurance going up higher and higher annually from today's rates. If I were you I would factor in a 50-100% increase in your insurance rates over the next 3-5 years. If your investment is still profitable with the increase, then press ahead. Just my two cents.