I am a licensed real estate agent that is not practicing due to not paying the start up fees. I am also with Kiavi as a independent Mortgage broker. Any tips on how i can get started as a referral agent is welcomed and as a for mortgage broker. I do not have a car but i am working on that. Feel f...
Hi how are you doing BP community I have a loan of one of my rental properties with rocket mortgage and they are offering dscr to cash out refi and I wonder if anyone worked before with rocket mortgage they offer $0 out of pocket fee , thanks
I keep going back and forth on this and want to hear how the community is thinking about it in today's rate environment. A cpl of questions: - If you're sitting on $50K-$100K of equity and want to pull it out for your next deal, how do you decide between a HELOC and a cash-out refinance? -Has any...
Hello, I am wondering if any lenders offer helocs that don’t look at tax returns as much and more the value of the house? I own my home outright and I am self employed. I have only had my business for 2 years and the first year there wasn’t much profit so when lenders go to average the past 2 yea...
I own a non-owner-occupied investment property and have been having a difficult time finding a lender that offers HELOCs on investment properties. I’d like to leverage some of the equity I’ve built in the property to help fund my next investment. For those of you who have done this, who would you...
We've all heard about deals falling apart because the numbers didn't work. But how often have you seen a potentially good deal fall apart simply because the financing or closing timeline didn't line up? Which one has caused more problems in your experience?
Commercial Mortgage and Loan Brokers – Three Levels of Service I have found that commercial mortgage brokers offer one of three levels of service. 1. Basic Service - Connect borrower with lender who may be interested in loan type. Preliminary criteria match and pass along documents provided by bo...
I signed a buyers agreement for a rural 2/2 for 66k and needs 30k in repairs. Appraisal shows 127k ARV. I’m having trouble finding funding for a flip or long term. Any suggestions on how to get out of the agreement or suggestions on finding funding?
Here’s a question I occasionally ask myself when looking at a loan: would I lend this guy my own money? Not the lender’s money. Mine. My, say, $300,000. Money that came out of my bank account this morning and that I would very much like to see again. Suddenly underwriting feels a little different...
One of the most overlooked financing strategies for real estate investors is Delayed Financing. Let's say you find a great deal and need to move quickly. Instead of waiting for traditional financing, you purchase the property with cash (or funds from another source) to win the deal. Most investor...
For the private lenders here who sell loans or borrow against a line, I am trying to understand what the other side of the file looks like. When a loan goes to an aggregator, or gets pledged to a warehouse line, what does the buyer or the custodian require on the borrower entity? Operating agreem...
Has anyone here successfully gotten a HELOC on a manufactured home that is permanently affixed to land they own and legally classified as real property? The property has the manufactured home and land together under one mortgage, and I’m confirming the Affidavit of Affixture / real-property statu...
Projects rarely go exactly according to plan. Budgets change. Timelines change. Scope changes. Communicating those changes early can help everyone respond before a small issue becomes a major one. Lenders, what’s the communication mistake you see borrowers make most often?
Hi, I'm looking at a property that is technically a manufactured home built in 1963, but has been completely remodeled with updated electrical, plumbing, and a entire stick-built house built on to the original single-wide, which basically only retains the original walls. The deal is excellent in ...
Does anyone know what happened to Dale and JJ? Seems they fell off the face of the earth. I just did a deal with them a few months ago? I hope they're alright?
Has anyone here successfully gotten a HELOC on a manufactured home that is permanently affixed to land they own and legally classified as real property? The property has the manufactured home and land together under one mortgage, and I’m confirming the Affidavit of Affixture / real-property statu...
After 25 years as a private, hard money lender, I’ve come to realize that many mortgage brokers don’t know the documents required by lenders to evaluate, approve and close a loan. So here is a list I found and modified. As a hard money lender I probably would not require many (most) of these docs...
Typical mortgage note transactions take 30–45 days (720–1,080 hours). Even well-prepped deals usually take 14–21 days (336–504 hours). We ran a case study using our platform. When everything was ready—title, docs, buyer/seller coordination—we closed a deal in just 43 hours. That’s a time savings ...
Most private money brokers enter the industry focusing entirely on one thing: finding deals and capital.However, once your networking starts paying off, you quickly hit a different bottleneck. You go from chasing leads to being completely overwhelmed by unorganized data.If you have multiple whole...
I'm renting to own a home in VA from family member. $30,000 ballance. I got approved for loan but cannot close due to home not having a black water septic. Currently using composting toilet. House appraised at $137,000 and I need only $65,000 to close and finish renovations. Need non-conventional...
Curious how investors approach this situation: You have an existing investment that hasn't reached its exit yet, but another property comes along that you'd seriously consider buying. Do you generally wait, negotiate a longer timeline, look for another capital source, or walk away?
This morning started with that old familiar song: “No.” Ah, just a regular Wednesday, my dudes. I’ve been in this game too long to believe that the first “no” always means no. “No” can mean a surprising number of things. “I don’t have time for this right now.” “This requires too much thinking.” “...
Hey guys, I'm Nick Saeva I'm a mortgage broker in Utah and I have this conversation weekly, so I figured I'd write it up once. A new investor finds a rental, calls a conventional lender, gets told no because of DTI or because their tax returns show almost nothing after write-offs. So they go to h...
Mortgage and real estate finance is extremely competitive. The same borrower you spoke to a couple of hours ago may have already signed an LOI and paid for an appraisal by noon. What is your competitive advantage as a loan originator? How do you win business in a market where everybody is offerin...
Being prepared can make the financing process much smoother. Clear property details, a realistic rehab budget, scope of work, timeline, and exit strategy all help tell the full story of a deal. For lenders and mortgage brokers: What's one thing you wish every investor had ready before applying?