Asset Based Lending recently funded a DSCR rental loan for a new borrower in Buffalo New York. This real estate investor contacted ABL for a cashout refinance loan for a two-family property. Both units in this investment property have tenants in place, and the borrower completed some renovations prior to contacting ABL for a cash out. With a DSCR of 1.49, this property is generating positive cash-flow and contributing to the borrower’s portfolio. Buffalo is located on the northern end of New York, bordering Canada. There is a strong renter population with nearly 60% of the city’s population renting their homes. Located within 20 miles of Niagara Falls, Buffalo is a great location to invest in both long-term and short-term rental properties.
