All Forum Posts by: Jesse LeBlanc

@Chris Roberts accelerated version, not having to wait for seasoning and giving you the ability to not leave any capital in the deal if the deal had enough equity at the time of purchase.  Yes sir. :)

@Jeffery Yarbrough, will you need Transactional Funding on the double close sir?

It's not for everyone.  Just keeping options open out there and i'm always sharing and helping others when I can.  Not everyone needs it, not everyone cares, but fortunately it will help a lot of people and open up new doors for some.  So at the end of the day, if this creates opportunities and helps some folks out there, that's what matters to me.

@Steve Vaughan solid PML are not unicorns, as a matter of fact all of mine fund me 100%, you just never asked or never found the right people. 

You sound like someone who is focused on what the NORM sees and not open to better options. More than happy to show many many HUD's, but sounds like you might still be in disbelief.

BTW nothing down out of your own capital is the point.  It allows me to retain my own capital for lending and other purposes, thus allowing me to make even more money.  I like to be smart with my $ 😁

using other people money (OPM) means you NEVER run out of capital so your buying power is greater.  But what do I know 🤷🏼‍♂️

Also not sure where you’re ASSUMING my rehab is the Comp and CLEARLY missing what I’m saying.  The refi is done AFTER the rehab, thus the appraisal will now match that of legit sold comps.  I’m forcing the equity by rehab.  It’s not hard to understand this, I don’t think anyway.

I also run a wholesale business, so I have access to legit good deals, hints why and how I know how this works.  I don’t need to put 20% down, but sounds like you do and that’s ok.  You might not be finding the best deals and forced to put 20% down from the jump.  That’s ok, and you might have far more liquid capital than I do or you don’t utilize your own capital to work for you in other ways.

be open to other creative and amazing opportunities out here everyone.  You don’t have to follow the path of the majority of people. It’s not always the best, but usually the EASIEST and so people get stuck in the trap.

@Terri Wyzkoski 👍🏼👍🏼
The reason why would be to avoid being forced to put 20% down for a rental.

the cost eats away a tad at your equity in exchange for not having any of your own capital left in the deal.

@Andrew Kougl let’s say your PML’s monthly interest equaled $750/month.  It took you 1 month to rehab and 1 month until refi.  At the time of your refi, your PML’s $ is returned to them from the closing company.

@Eric James yes sir, IF you used your own cash and needed that out you would have to wait for the cash out. Agreed.

I’m just trying to share a far better option to save investors from using their own capital and leave the minimal amount in the property as possible giving the investor greater buying power.

the toughest part is finding the deal with equity then making sure your appraisal comes back at or above your initial assumption.  It works great for Wholesalers who are also very wise and ready to keep as many of their own wholesale deals as rentals instead of selling them to other investors for the quick buck at the highest taxable rate.

@Eric James yes, I can agree with your statement in some cases. 

However, it comes down to holding costs. At the end of the day, regardless you will refi and incur those costs, you will close a 2nd time regardless.

so if the holding costs monthly with interest only is greater than your new conventional rate and are paying interest only, then the majority of time it makes sense to refi sooner than later.

the entire point of this is to obtain rentals with ZERO of your own capital left in the deal. It’s better than putting 20% down and only have 1 closing. I don’t have 1 rental with any of my own capital left in them, thus having infinite return 😉😁

@Stephanie P. the max LTV the majority will give you is actually 80% (which I stated), all fees can roll into the loan if the appraised value was high enough and the investor did a good job finding a deal with equity from the start is key.

here is another one for you and some others, you’re ALSO allowed to receive up to 2% back or $2000 whichever is lower which is somewhat like cash back and can cover your 2nd closing costs.

@Eric James no sir, I’m 100% talking about conventional loans.  I’m staring at 3 loan statements right now from just a few of my past loans before I refi into a portfolio loan.

guys, this isn’t hard.  Stop getting caught in the trap of having blinders on and ONLY assuming that what the majority knows is all that’s available.

use your PML, your HML etc and refi into a conventional (unless you maxed out) very very simple. I personally use a Mortgage Broker who then finds the best one, I personally refi into United Wholesale Mortgage. On of my last refi's were only 3.25% on my rental.