DSCR Loans: The Shocking Truth About Qualifying Without Income—and Why It Could Make or Break Your Next Investment Deal
Ashley:
So this property was converted from a three bed, one bath to a four bed, two bath rehab. Delays and permitting issues pushed us into June, 2025 when we originally thought it would be done by February, 2025. And currently the Reno is only 75% complete. So he goes through and mentions some of the renovation status as the contractor hasn’t made any progress for over four weeks. Floor joists for the addition are exposed in the back. Second bathroom and closet still need to be built out. And the last draw from the hard money lender will fund completion, which is already built into the cost basis. We originally comped the flip at 375,000 now based on recent comps and our contractors finish quality, we’re really sickly looking at 320 5K to 340 5K on the open market options. Do we sell as is, which basically would put us at a 73 K loss.
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