Asset Based Lending recently funded a DSCR rental loan for a first time borrower and real estate investor in Terre Haute, Indiana. The property was purchased for $116,000 with a loan amount of $87,000 and an appraised value of $118,000. This borrower purchased this single-family property to hold in their portfolio and collect passive income. With a DSCR of 1.28 this property is positively cash flowing. The units were not leased when the borrower purchased the property, but they expect to have tenants in place to collect monthly rent. Terre Haute is an area with a small-town rural feel located about 5 miles east of the state’s western border of Illinois. Living in Terre Haute offers residents a dense suburban feel. Many young professionals live in Terre Haute and public schools in the area are above average.