Refinance a Vacant Rental (DSCR Loans)

Refinance a Vacant Rental (DSCR Loans)

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In this episode, Beau Eckstein talks about refinancing a vacant rental using a DSCR loan.

- DSCR stands for Debt Service Coverage Ratio, which is important for lenders when evaluating a property's cash flow potential.
- Refinancing a vacant property with a DSCR loan is possible, but certain conditions need to be met.
- Lenders require a rental survey and appraisal to determine the potential rental income of the property.
- The rental survey assesses similar properties in the area to estimate the achievable rental rate.
- If the rental survey and appraisal show that the projected rental income meets the DSCR requirements, the property can be refinanced even if it's vacant.

Timestamps:
(00:09) - Overview of the topic regarding DSCR loans
(00:22) - Recap: What is DSCR?
(00:39) - Importance of rental income in refinancing a vacant property with a DSCR loan
(01:02) - Rental survey and its role in determining potential rental income
(01:30) - Refinancing a vacant property if rental income meets DSCR requirements
(01:49) - Importance of working with a knowledgeable mortgage professional
(02:44) - Clients' goals of refinancing properties purchased with Fix and Flip loans
(03:20) - Different approaches for refinancing vacant properties based on long-term rental rates and exit strategy

💥 Thanks for watching 💥
#DSCR #dscrloans #rentalproperty

About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.

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