Tardus Money Moves · San Diego

Financing real estate investment property.

You are ready to buy the next one. Your tax return says you are not. There is a second way to get the loan, and right now it is the cheaper one.

Anything in amber is a note from me to you. It comes out before you stand up.

Brendan Kolesar · NMLS #260655 · Arbor Financial Group, Inc. · Corporate NMLS #236669 · DRE #01845041 · Equal Housing Lender

Illustrative figures. Not a rate quote or a commitment to lend.

First

Get your phone out.

Point your camera at the code. No app, no sign up.

You will answer three questions and run your own numbers.

You can send me a question at any point. Nobody sees your name.

Or open

kolesar-session.pages.dev

and type the code

— — — —

Scan to join

Introduction

Who I am.

I own rentals myself. I have signed these loans, not just sold them.

I am self employed too. I know what an aggressive tax return costs you at a bank.

A career inside mortgage banks. Two years as a broker, approved with 150 of them.

I am not here to sell you a loan. I am here to tell you which one you should take.

Your site says 13 states, your homepage says 14, an Arbor bio says 20. Which is it?

The problem

Why banks say no to you.

You are aggressive on taxes

Your CPA made your income look small. The bank believes them.

You are self employed

Two years of returns, and a paper trail for every deposit.

You live off your assets

You have money. You do not have a pay stub.

You run a snowball

Cash moving on purpose. To them that looks like a red flag.

You did everything right, and on paper it made you look worse. That is not your fault.

Part one

01

Two kinds of loan.

One checks you. One checks the house.

Loan one

Conventional loans.

They check you. Tax returns, pay stubs, debt to income.

Anything unusual has to be documented. Not explained.

Cheapest money in the country, if you fit it.

Fannie and Freddie wrote these rules. Your lender just applies them.

The limit

Conventional stops at ten.

10

financed properties, and then there is no eleventh loan.

Most people find that out the year their portfolio finally works.

Loan two

DSCR loans.

They check the house. From you, only a credit score and assets.

No tax returns. Nobody asks what you do for a living.

The test is whether the rent covers the payment.

No limit. Buy as many as you want.

There is a loan where you can not have a job, frankly. This is it.

Before I sell you anything

This is not always the right answer.

If you fit a conventional loan, it is usually the cheaper one. I will tell you that.

Three or four years ago DSCR cost a full point more, with fees to match.

I would have talked you out of this in 2022.

What changed is the pricing, and it changed recently. That is the only reason this talk exists.

The test

Does the rent cover the payment?

1.38

$2,600 rent ÷ $1,888 payment

It qualifies

A $350,000 duplex, 25% down. Anything at 1.00 or better is a loan. That is the whole test.

Put your own price and rent into your phone.

Rent, taxes and insurance are my guesses. Send me one duplex you priced this month and these become real.

Your turn

Have you heard of interest only?

Answer on your phone.

The gap between the second bar and the third one is the rest of this talk.

A client

A client who said no.

Several properties. All conventional. A hard no on interest only.

Then she looked at the numbers on her own deal.

She closed one last week.

I need Christa’s okay directly and her spelling. Thirty seconds of her on video beats this whole slide.

Part two

02

Interest only loans.

A thirty year loan where the first ten years are interest only. About 99% of my investors take it.

The product

What interest only is.

Still a thirty year loan. It is not a balloon and not a teaser rate.

You skip principal for ten years. You can still pay it any month.

When you do pay it down, the payment drops and stays down.

Principal is not a cost. It is a savings account with a lock on it.

Compare

Same duplex, three loans.

True this week

Conventional

$1,724

6.875%

DSCR

$1,638

6.375%

DSCR, interest only

$1,422

6.5%

Which one would you take? Answer on your phone.

$350,000 duplex, 25% down. Par pricing off my sheet, 8/28. Taxes and insurance sit on top of all three the same.

The trade

What interest only costs you.

Five years, conventional

$15,738 paid down.

Real, but you cannot touch it without selling.

Five years, interest only

$18,154 in your hand.

Nothing paid down. The same balance you started with.

Year one of any loan is 87% interest. There was not much principal there anyway.

The other use

It also helps you qualify.

Paying principal

Needs $2,104 rent.

Below that, there is no loan.

Interest only

Needs $1,888.

Same house, same buyer, lower bar.

$216 of rent. That is the band where a deal dies one way and funds the other.

The lever

Paying it down lowers the payment.

Pay in $10,000

$1,368

$650 more a year

Pay in $20,000

$1,314

$1,300 more a year

Pay in $50,000

$1,151

$3,250 more a year

On a normal loan this shortens the term and the payment never moves.

The catch

The prepayment penalty.

Zero to five years, and it is priced. Most people take three.

It is six months of interest. On this loan, about $8,531.

You can pay down 20% a year without triggering it. That is $52,500.

It only bites if you sell or refinance early. Hold five years and you are past it.

Your turn

What would you do with the extra $303?

Answer on your phone.

$303 a month is $3,631 a year, on one duplex, for as long as you hold it.

Get me the run from Jackie’s coach and this slide gets the real snowball number under the bars.

The reason this is worth your time

Why now.

True this week

Conventional

6.875%

Normally the cheapest money there is.

DSCR

6.375%

Half a point under it. That is the part nobody expects.

DSCR, interest only

6.5%

$303 a month under conventional.

My sheet, 8/28/2026 · refreshed the morning of this talk

The easy loan used to be the cheap one. Right now it is not. I do not know how long that lasts.

Give me the 2022 numbers you were quoting so this slide can show then and now side by side. Right now I only have your word for the full point, and your word is enough for me but not for a screen.

Proof

Four loans that should not have worked.

The student

First time buyer. Owned no home at all. Funded.

The seller

Had just sold their house. Textbook decline. Funded.

Jerry

Hated documenting deposits. DSCR never asked.

Colin

Georgia cabin. Dead set against interest only. Then he saw the numbers.

Confirm Jerry and Colin are fine being named, and give me first names for the other two.

Pricing

Why a broker costs less.

A bank

Layers of management, paid out of your rate.

Margin is set upstairs. Nobody on your call can change it.

A broker

I set it deal by deal.

A dozen banks bidding, and I decide what I make. About 1%.

I am not going to bash anybody. I worked at those banks. It is a structure problem, not a people problem.

What happens next

How this works.

01

Send me the address and what it rents for. That is everything I need to start.

02

I price it against a dozen banks, both ways, and I do it this week.

03

You get a real number. And if conventional is cheaper for you, I say so.

No application. No credit pull. Nothing you have to undo if you walk away.

Questions

You don’t need the right time.
You need the right strategy.

01 Conventional checks you, and it stops at ten.

02 DSCR checks the house, and it does not stop.

03 Interest only lowers the payment, and sometimes it gets the loan.

04 None of this is always right. It is right this week.

Scan. I’m in your phone.

Tap. I’m in your phone.

Text me the address of the one you are looking at.
I will price it both ways and tell you which is cheaper.