All Forum Posts by: Ian Woods

 Hey Brandon.

I trust there is. Can you point me in the right direction? 

 Hi Ko. I've seen some lenders offering light doc financing, and I hadn't considered it an option before now. $2500/m. Asking 155k. I would like to find a lender that would base financing on rent/income.

To answer your question, the property is fully occupied. 

Appreciate your response.

Hi All,

I'm looking to finance a four unit multi-use property. Two store fronts and two apartments. 

I don't have exact floor plans, so I'm not sure if it would qualify for the 51% apartment sq. ft. necessary for a mixed use dscr loan. 

Even if it does, I'm stuck with the asking price being so low at 155k. The only lenders I'm seeing are way above that as a minimum to finance.

Appreciate any creative financing options.

Thanks!!

Ian

Hey Everyone,

I'm trying to find a DSCR lender that will work with low purchase prices. I'm purchasing in the tri-state area (WV/OH/KY), and I am able to find some great potential deals but many are too low in the loan amount. Some current examples are 10-unit property for 270k and a 5-unit prop for 210k.

And I'm seeing that some lenders offer DSCR loans up to 8 or 10 units... Has anyone worked with a lender that will go even higher?

Thanks for the assistance in advance!