Asset Based Lending recently funded a DSCR rental loan for a first-time borrower to purchase a single family property in Trainer Pennsylvania. The borrower recently renovated the property and was looking to refinance and hold it as a rental to grow their investment portfolio. The property was purchased for $105,948 and it was later appraised for $215,000. There are already tenants in place and the borrower is collecting $2051.28 a month in rent. With a DSCR of 1.05 this property is cash-flow positive and generating passive income for this rental property investor. Single family home rentals make up 9% of the market in Trainer so this property is a rare find for these lucky renters. This property is located a short drive from Philadelphia Pennsylvania and Wilmington Delaware, providing flexibility for the tenants that make their home in this area.
