All Forum Posts by: Jada Thoele
Jada Thoele has started 1 posts and replied 2 times.
Post: "But DSCR loans are only for experienced investors… right?"
- Posts 7
- Votes 5
No, you don’t need 10 properties. No, you don’t need a massive portfolio. No, you don’t need to show a fat W2 either.
👇 What you do need:
- A decent credit score (680+ preferably but 600 is doable)
- A property that cash flows
- A game plan that makes sense on paper
That’s it.
DSCR loans are built for:
🤝 First-time investors who don’t want to deal with tax return headaches
🤝 BRRR investors refinancing out of hard money
🤝 People who understand cash flow > credit score
So if you’ve been waiting until you “feel legit enough, ”This is your green light.
You don’t have to be a pro. You just have to get in the game.
If I have a specific area I'm looking in I would call multiple agents to ask about the area.
I also reach out to communities like this and ask for others' input as well as recommendations for a good crew- handyman, plumbing, etc.
Visiting in person sometime in the beginning would be ideal so the neighbors can know you and help give you info when you're gone.
And it may just be me but I like to partner with locals