This borrower is refinancing this single family home out of a bridge loan into a DSCR rental loan with Asset Based Lending. The property is in Lexington South Carolina. The new purchase price is $82,000 and it appraised for $215,000 after the renovations. There are tenants in place and the borrower is collecting $2,150 in monthly rent. With a DSCR of 1.07 this property is cash-flow positive and generating passive income for this rental property investor. Lexington offers the best of suburban and rural living, with proximity to Columbia as well as the beautiful lakes and parks making this investment property a great home for the right tenants.
