Asset Based Lending recently funded a DSCR rental loan for a firs time borrower in Hampton Bays New York. This borrower purchased a single-family home to incorporate into their rental property portfolio. The property is currently unoccupied, but the borrower can expect to collect market rate for the monthly rent. With a DSCR of 1.32, this property will generate positive cashflow and generate monthly income for the investor. Rental properties in Hampton Bays account for only 26% of the housing market, making this property a rare find. Located on Long Island just west of the prestigious Southampton area, this property has the potential to operate as a short-term rental and collect peak seasonal rates around $900 a night.
