Want to scale your real estate portfolio faster? These investment property loans can help. Most real estate investors get stuck early on in their journey. They buy some properties and build up some comfortable cash flow, but then…they can’t qualify for another loan. They’ve either reached the maximum limit on conventional mortgages OR don’t have enough income to qualify for bigger and better investments. So what do they do? Give up? Settle with a small rental portfolio? No, they use THESE investment property loans instead.
Jeff Welgan, our investor-friendly lender expert, is back to show us what we’ve been missing. From DSCR (debt service coverage ratio) loans that help you scale to more doors, to no-income-necessary investor loans that don’t look at your income, to business bank statement loans that’ll let you buy homes based on your business’s cash flow, these mortgages can help anyone in any position, purchase real estate faster.
If your DTI (debt-to-income) ratio is too high and you’re struggling to qualify for another mortgage, this is THE episode for you. We’ll discuss using your property’s rent to qualify for more, loans that get around DTI requirements, using your business to fund your deals, and the mortgages you should look into FIRST before you move on to more complex loan products. Stick around if you’re ready to scale faster!
Thank you to our sponsor, Rent App: the free and easy way to collect rent.
In This Episode We Cover
Why you cannot overlook rehabbing older homes and outdated properties
The two things that tell Lisa an older home ISN’T worth investing in
Why termites, foundation problems, and outdated electrical systems aren’t as bad as you think
The huge mistake Lisa made that ruined a $100K+ rehab project and how to avoid the same fate
Tenant retention 101 and best ways to ensure your vacancy rate is low and your cash flow is high
DealMachine’s five ways to find motivated sellers in any market
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Join BiggerPockets for FREE
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Ask David Your Real Estate Investing Question
Dave’s BiggerPockets Profile
Dave’s Instagram
Find an Investor-Friendly Tax Pro Today
Hear Dave on The “On the Market” Podcast
Watch Dave on the “On The Market” YouTube Channel
Real Estate Podcast 939 - BiggerNews: 100% Financing for First-Time Home Buyers is HERE w/Jeff Welgan
What Is Debt to Income Ratio? (DTI)
DSCR Loans: What Are They And How To Get The Best Terms
Connect with Jeff:
Jeff's Instagram
Jeff's LinkedIn
Jeff's Website
(00:00) Intro
(03:20) What is DTI?
(07:03) Use Rent to Qualify!
(09:32) How to Qualify for More
(13:30) Investment Loans You’ve Never Heard of
(21:48) No Income to Qualify?
(26:04) Which Loan to Choose?
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-943
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
