This repeat borrower and experienced investor is refinancing a single family home in Atlantic City New Jersey with Asset Based Lending’s DSCR rental loan. Atlantic City’s population is predominantly renters, making up 72% of the residents. Of the rental properties only 7% are single family homes as most of the market is smaller apartment complexes. The population of Atlantic County trends towards younger adults which adds to the strength of the rental market. This single family rental property was purchased for $200,000 and appraised for the same amount. The borrower has tenants in place and is collecting $2,200 a month in rental income. As a positive cash-flow property with a DSCR of 1.12 this is a passive income producing investment property for this borrower.
