All Forum Posts by: Erik Estrada

@Alex Roter What do you think?

@Alex Roter

The NMLS # is given to licensed loan originators. If you are licensed to do residential loans then you must follow strict guidelines and laws to protect borrowers. Some hold both the Real Estate License and the Loan Originator License to add more credibility. You can look up both license numbers in NMLS website or the DRE website (if licensed in California). 

Do you own your primary residence? 

Hey Andrew! Why won't lenders give you any guidance? It seems like this investment makes sense and could be eligible for asset-based loans. 

@Alex Roter

@Alex Roter

Consulting with a mortgage broker that specializes in investor financing would be a great idea. They will be familiar with different financing strategies specific to your needs. They can also shop around for you so you can get the best rate. The only real catch is the origination fee which you or the lender pays, depending on the rate of course. They are motivated to help you get the best financing possible because that's how they generate repeat business. 

@Thomas Sokolis Have you found any properties worth investing in? Rates are going to continue to rise and is just the cost of doing business. If you do find a deal, crunching down the numbers would be a better alternative.  

@Steven Barr Have you looked into the fix & flip loan?