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Alexandria, VA – Rental Property
Lima One helped an investor execute a fix-to-rent strategy on this Alexandria home by providing a cash-out refinance DSCR loan.
By the Numbers:
$687,500
Loan Amount
$1.375M
Appraised Value
50%
Loan to Value Leverage
The Opportunity
An investor group completed a fix-and-flip project in the Washington, D.C., suburb of Alexandria, Virginia. When the property was marketed for sale, the investors didn’t get the right offer quickly, so they pivoted their exit strategy to hold the property as a rental for a few years.
To execute this pivot, the investors needed a cash-out refinance DSCR loan on the property. He approached Lima One to see what his options were.
The Solution
Lima One offered a 30-year DSCR loan on the property to allow the investors to get nearly $650,000 of cash out while ensuring strong cash flow thanks to a low monthly payment. This cash-out amount surpassed the caps other lenders had.
This solution, which took full advantage of Lima One’s flexible rental loan options, gives the investor the opportunity to sell the property whenever the right offer comes along, while also ensuring cash flow while it remains a rental in their portfolio. This sets up the investors for both short-term and long-term success while building their business.
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