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All Forum Posts by: Brandon Croucier

Brandon Croucier has started 1 posts and replied 577 times.

Post: 11 year contractor turned full time REI.

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260
Quote from @Simon Walker:
Quote from @Brandon Croucier:

Opportunity cost is a serious expense, if they are moving slow, they are COSTING you more money than what a hard money lender might able to make you. In Real Estate, TIME IS MONEY.

Getting a rehab loan done quickly is worth paying an extra few points in order to be efficient as you will be able to expand your BRR business which would yield results greater than the increased cost of capital that hard money brings.

In order to escape a scarcity mindset you need to understand that money is in theory unlimited, they print it.

But can you print time? Nope. 

Time is your most scarce resource.

I absolutely agree with this. That’s why lending is my biggest concern. As a contractor I had to work for money, be at the mercy of the customer, jobs and timelines never seemed to go as planned, only to pay tax on the money I worked for. When I got my first loan for real estate I realized it would’ve taken me a full year to make this money before I could invest. In a way, I “bought” a whole years worth of time using OPM. I would have the determination and dedication to take on as many projects as possible if the funding was available. Once again, back to my scarcity mind set of there not being enough lenders out there willing to make deals, but that doesn’t seem to be the truth. 
I am happy to help, do you strictly do deals in PA?

Post: Buying Down Points

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

Odds are you aren't going to hold the loan to term.

In all honesty, you will probably be able to refi down below 6 for free in the next 18 months.

We haven't seen rates this high since 07', In my opinion I think we see the money printers turn on & rates lowered in the coming years.

Post: Seeking Advise on creative loan structure

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

Buy the property with seller finance & finish it up.

Tahoe is a great short rental area

Post: 11 year contractor turned full time REI.

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

Opportunity cost is a serious expense, if they are moving slow, they are COSTING you more money than what a hard money lender might able to make you. In Real Estate, TIME IS MONEY.

Getting a rehab loan done quickly is worth paying an extra few points in order to be efficient as you will be able to expand your BRR business which would yield results greater than the increased cost of capital that hard money brings.

In order to escape a scarcity mindset you need to understand that money is in theory unlimited, they print it.

But can you print time? Nope. 

Time is your most scarce resource.

Post: Sell the house to pay off debt?

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

Just take out $60,000 from the property, reduce your cashflow & ultimately pay WAY less in interest.

A Cashout Refinance is sitting around 7% while Credit Card debt is sitting above 20% on average.

I know far too many people who regret selling real estate looking back 20 years, but I've yet to come across one who regrets keeping it.

Post: Subject To deal while in underwriting for personal investment property

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

What kind of refinance are you doing?

Post: Creative Financing for Airbnb in Northern Virginia

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

If you are going to get a DSCR loan, you cannot live in the home, end of story.

There's plenty of qualified LO's around here who's job it is to find the best product for you.

Post: First time Rental homeowner doing taxes

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

Call up a good CPA & they will help you out

Post: Private Money Lender Contract

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

It is in your best interest to find a local real estate attorney & have them draft up a note & deed of trust.

Post: what should I do with 150k cash

Brandon Croucier
Posted
  • Lender
  • Newport Beach, CA
  • Posts 628
  • Votes 260

If you are going to need it in a year, a Private Money Note is your best bet ;)