Asset Based Lending recently funded a DSCR rental loan for a first-time borrower and real estate investor in Gainesville, Florida. The property was purchased for $200,000 with a loan amount of $120,280 and an appraised value of $221000. The property is a two-bedroom, two-bathroom house that has had the same tenant for 40 years. It features a spacious fenced backyard, porch, and wooden deck, all meticulously maintained. The property boasts clean landscaping, a carport, and a generously sized master bedroom with an adjoining large closet. Additionally, there’s a private fenced garden accessible from the master bedroom for added privacy. With a DSCR of 1.12, the property is already positively cash flowing, making this a great investment for the borrower.
