DSCR Lenders That Work With First-Time Investors

[Pavel Voroniuk]

Hey BP community,
My partner and I are actively looking to acquire our first rental property in the Berrien Springs / Benton Harbor, MI area and are in the process of finalizing our Michigan LLC.
We're looking for DSCR lender recommendations - specifically ones that are comfortable with:
• First-time investors (no prior rentals)
• Borrower without a primary residence
• LLC vesting on the loan
We understand the property’s cash flow is what carries the loan, and we’re targeting deals where the numbers work. We have our down payment capital ready and are serious about closing.
If you’ve worked with a lender in Michigan (or a national lender who closes deals here) that didn’t make first-timer status a dealbreaker, I’d love a name and contact. Direct lenders preferred over brokers.
Appreciate any insight - this community has been invaluable.

[Kristi Rinck]

Hi Pavel,

I work with a private lending group (Coastal Capital Funding) that lends nationally, including Michigan, and we regularly close DSCR deals for first-time investors in LLCs. I'm happy to at least give you a comparison point or sanity check on a deal if helpful.

Feel free to email me [email protected] or give me a call at 757-754-1121 if you want to run numbers or see what terms might look like, no pressure at all. And good luck on the first one… that’s the hardest (and most important) step.