Hello, I’m looking to connect with lenders who are comfortable financing foreclosure purchases in Philadelphia, specifically around Fishtown and nearby 19125. My strategy is to target conventional 2 to 3 bedroom rowhomes that can be purchased below market value, make a light rehab of roughly $10k...
My business partner and I own Q&M Properties LLC and currently have two single-family properties in Atlantic City. We’re looking to expand our portfolio and connect with hard-money/private lenders who finance acquisitions and renovations in Atlantic City. We’re looking to build a long-term lendin...
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 ...
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?
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 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?
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...
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...
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...
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?
When reviewing a DSCR deal, I like to have a few numbers figured out before getting into the loan structure: Market rent Property taxes and insurance Expected vacancy Management and maintenance Purchase price and loan amount Estimated monthly debt service DSCR after operating expenses I also like...
Recently divorced, took a job out of state, ex wife missed 8 payments on mortgage thats dropped my credit (she got the house from divorce) and I need to get back on my feet. How can I take equity from one of my rentals with under 600 score and the late payments on history
I've heard it numerous times: "I didn't mention that because I didn't think it mattered." "I was hoping it wouldn't come up." I always wonder what the plan was. Because it always comes up. If there's another loan... we'll find it. If there's a tax lien... we'll find it. If the bank statements don...
Is it legal to pay a referral fee when someone sends you a borrower for a non-QM/DSCR/HML loan? I am in search of an attorney who can help answer the age old question but I am constantly hitting a wall with lawyers that don't really work with non-QM loans. Who can I go to? What legal counsel woul...
Whether you're working with a bank, private lender, or hard money lender, every lender seems to have a slightly different approval process. From your experience, what factors make the biggest difference when reviewing a loan application? Is it the borrower's experience, credit profile, liquidity,...
Do you provide quotes over the phone or in writing via email? I personally prefer email quote since it gives us time to really look at the deal, underwrite and follow up with questions before committing to a rate/fee structure..
Hi there, I just founded a syndication firm (Tradewind Investments Group) with a buy box for small commercial properties (5-30) units. Coming from the large commercial space in my professional career 200+ units, I know that debt sizing and terms is not the same to what I am used to. I am open to ...
So I got a letter in the mail from my old mortgage servicer that they are no longer doing my mortgage. It's changing to a new one Aug 1. It's already Aug 5. The ACH withdrawal didn't go through. I gave the new servicer a call and they can't find the mortgage. The customer service rep said to wait...
July was an incredible month, and we have so much to be grateful for! We had the privilege of serving 18 families, including 7 first-time homebuyers, and helping 4 families find a path forward when they had previously been told no by other lenders. None of these wins happen without the trust of o...