Fee for Cash Out Refinance broker

[Dannielle VonDerLinden]

Hello there. New to site and new to investing. Buying 2nd and 3rd props and closing in next 2 weeks. I am going to be cashing out on a refinance. I met a broker who says he can help with 2-3 week cash out with up to 80% LTV. We were having some convo about what his fee should be. I am looking to make many deals with him and have him be happy. What is a good rate I could pay him on each deal? First prop is value is about 45K and second is 100K.

[Andrew Postell]

@Dannielle VonDerLinden your lender should already have his fees in place.  It's kind of a requirement for lenders to have a standard fee that they charge everyone.  There are even rules in place against charging different fees....since charging a higher fee for one person than another person could be discriminatory.  I am saying all of this because the lender should be able to tell you what his/her fees are up front.  I hope what I am saying makes sense.  Let us know if you have any other questions.  Thanks!