Loan Originator in Minnesota

[MIke Haubrich]

I'm here to learn how the Real Estate Investor Business works so that I can move into DSCR and BRRRR as a niche loan originator. I work for a small brokerage in Minnesota. I do TikTok Lives to talk to Real Estate investors but I have learned that this is also a great way to pick up information on how to evaluate deals, structure them, and be a more informed loan originator.

[Adam Tafel]

Here is how to crush it in the lending space with the BRRRR crowd. Provide us with a product which will let us cash out completely without a seasoning period, and value the property based on ARV (not total cost). Let's say I purchase a house for 175k (cash), put 30k into it, and now its market value is 285k. Most lenders will not lend based on the ARV in such a short time span, even with a cash purchase. I have found one local bank who will work with me on these deals, but it would be great if they have some competition.