DSCR Loans: The Shocking Truth About Qualifying Without Income—and Why It Could Make or Break Your Next Investment Deal
Tony:
I agree with you. I think the mindset piece here is super important, but looking at the options that he’s laid out, SE as is, which is a 73 K loss, refining and long-term renting, which is a 46 K loss, negative cashflow, the refinance and short-term and midterm renting still a 46 K loss with an additional 12 K, maybe even more. It’s your first time doing it. You’re probably underestimating how much it costs to furnish this thing. So that really comes out to, what is that? Maybe almost a 60 k loss if you refinance and short-term rent. In my mind, finishing it and selling it even at a 27 K loss is probably the best approach because at least you’re done with the deal once you sell it with all of these other options. What if something else goes wrong?
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