Atlanta Georgia DSCR Rental Loan
Asset Based Lending recently funded a DSCR rental loan for a first-time borrower and experienced investor to purchase a single family property in Atlanta Georgia. This borrower was originally working with another lending company on this deal but that company was unable to complete it and walked away before closing. ABL was able to save this deal, as well as another from this borrower, and pick up where the previous lender left off, bringing them to the finish line. This is a cash out and refinance for a single family home where the borrower is already collecting $1,525 a month in rent. With a DSCR of 1.13 this is a cash-flow positive property generating passive income for this rental property investor. Rental prices in Atlanta are typically higher than the national average, making it a great city to invest in rental properties. In Atlanta 55% of residents are renting their homes rather than owning, and 16% of the rental properties are single family homes making this a rare rental opportunity for Atlanta residents.