Asset Based Lending recently funded a DSCR rental loan for a first-time borrower and new investor in Petersburg Virginia. This borrower contacted ABL to purchase a single-family home to start their real estate investment journey. The property is unoccupied, but once a tenant is in place the borrower expects to collect market rate monthly rent. With a DSCR of 1.23 this property will generate positive cashflow and generate monthly income for this investor. Petersburg is located 30 minutes south of Richmond near the James River. Most residents here rent their homes with only 36% owning their homes. Downtown Petersburg offers residents access to restaurants and boutiques as well as Lee Memorial Park and the many trails, picnic shelters, and various athletic fields.
