DSCR Loans: The Shocking Truth About Qualifying Without Income—and Why It Could Make or Break Your Next Investment Deal
Tony:
And I think that adds another dynamic to the equation here. But I think before we even go into solving this issue or coming up with solutions, which to try and figure out what went wrong, there were some timeline issues, there were some RV issues, there was maybe some scope adding the additional bedroom and bathroom. Was that too much of a scope? So first on the timeline piece, I just wonder why did you guys fall so far behind? Was it that the contractor gave you a date and said, Hey, we can be done by February, 2025. Because if that is the case, and this is just a lesson for all of our rookie investors who are listening, don’t ever take that date at face value. If a contractor tells you it’s going to be three months budget for six, if they tell you it’s going to be six budget for 10, don’t ever run your deals on the timeline that the contractor gave you Always add some additional timeline in buffer because things do happen. Sometimes it are their fault, sometimes it are outside of their control. We never know what’s going to happen when we start opening up walls and we try and go get a permit and something else happens. So for all of our is from a timeline perspective, make sure that whatever data contractor gives you always adds some buffer there. And then it seems like actually there was also some issues with the rv.
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