All Forum Posts by: Shakeema E. Romero

I’ve been reading about asset based loans. Many people I speak to aren’t familiar with them, they seem to think they are the same as hard money loans.
Can asset based loans eventually be refinanced to a conventional loan(is that even something that can be done)? How do you find a asset based lender? thank you in advance.

Asset based loans or DSCR (Debt Service Coverage Ratio) loans are not the same as hard money loans although you typically don't need income taxes or paystubs for either. Asset based loans use the guarantor's credit to establish risk and the monthly rents for income. Most DSCR loans have decent rates right now, so there's no real need to refinance them if the numbers work, however, most have a prepayment penalty of anywhere from 1 year to 7 years (depends on the lender)

If you qualify for a conventional loan, that's the place to start your investment journey, but if you don't qualify for one reason or another (and there are several) DSCR loans are way easier and close faster in general.

Thank you Stephanie.

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@Jeff Shumway where do you suggest I begin?

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Thank you Blake Dennis.I was a teacher for a few years left that to do something else and was laid off. I really don't want to rush into a traditional 9 to 5.

Hi Lara, im interested in multi family properties.

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Hi I am new to real estate investing. I have pretty good credit and have about some money saved, No credit card debt, I do have student loans. I would like to start investing in property the problem is I lost my job in July. Would I need to have job income to qualify for loans? Will I qualify for anything. I really don't want to have to go back to work if I don't need to. Any advice would be great.

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All Forum Posts by: Shakeema E. Romero

Shakeema E. Romero has started 2 posts and replied 5 times.

Post: Asset Based Loans-First Time Investor

Post: Asset Based Loans-First Time Investor

Post: No job Income Advice Newbie Investor

Post: No job Income Advice Newbie Investor

Post: No job Income Advice Newbie Investor