Interesting how these guys provide valuable information like this without charging! We live in a time where people are so generous and are willing to reach out and help those who are struggling
Thanks Brandon, for sharing some of your wealth of knowledge - I enjoy listening (either consciously or as background sound...lol!). All of this info is very useful. There is so much to know, I'm also grateful that there is additional written forms on the website. I could not find that 5 C's download on the BP site though.
I'm running into issues with lenders not wanting to lend on loans of less than 125k. I have identified occupied, cash flowing, I have plenty of income only debt is primary residence, DSCR of 3.86, good COCR, cap rate, etc, turnkey, small multi family, prepared to put down enough to have 75% LTV that I only need to borrow 40k for and none of the lenders I've talked to will consider it. Just starting to explore community banks now.
Loan to value is what the seller is receiving if buying. I buy on the basis of what loan to value I can achieve. Lenders only accept projections to be built properties.
Very informative and well done. I learned a lot and hope to be able to start doing this myself while keeping my current business running. Do you think I am too old to do this at age 64?
Hi, when you refinance your loan you get more money since the property is worth more but DONT you have to pay the new loan anyway? Does profit only exist when you sell the property at the value is appraised for?
No more begging the banks for loan I went through my last borrow from bank process earlier this year. What a nightmare. Every loan from bank is awful experience for me. I borrowed this year to take advantage of low rates. I have another rental property that I could refinance or take out HELOC, but I cannot take another long meticulous loan approval process. I now have well over six figure cash value in my whole life policies, and will borrow from my own bank going forward. What a relief to just make a phone call and say, I want to take a loan out, then complete a 1 page application and three to four days later, check is in the mailbox. Not 3 to 4 months like a bank loan, but 3 to 4 days. And, no sweating that FICO score. Approved, as application for policy loan is just a formality. Also nice paying back loan on my terms, so I may not make any payments for first 6 months, or maybe 9 months, then pay back as much of the loan and in any time frame that I choose. That’s infinite banking!
I just watched the video on Bigger Pockets "How to buy a property in 90 days". That video says that step 1 is funding and step 4 is to look for the property. This makes it sounds like I need to have already found the property that I want to make an offer on before I ask for funding.
If I’m not mistaken the first step is to get an estimate from banks how much money can they loan you based on your income and also how much money you own (for down payment), this will give you information of what price range of the property that you can buy, so you dont waste time looking for $1m property while you can only afford $300k ones. Though if you’re already advanced you can have many other financing options, but for beginner I think it really give you something to follow through easily
When should I get a property management company? With house 1? After 5 houses? What are some good property management companies in Savannah, Georgia? What are the fees and commissions involved?
Stephen Wilmoth Depends on how much time you have free, condition of the property (s) and how handy you are. If in good condition just get service maintenance on boilers. get a cc for repairs and find a handy guy to call when needed. After 6+ , make your own construction company and blow things up, do your property and the other suckers This way you cycle you expenses into the P side of your P&L
OK, I'm confused so banks won't lend LTV based on the actual value of the house but they lend you LTV based on the purchase price? And the FHA will lend 95% based on the LTV or based on the purchase price?
Now days you apply online and they dont even care for your presentation. Good credit ,low to no debt,stable job and better if you have a good chunk in your savings is all you need. As long as the property is at a fair value in the given market condition. The hard part is finding the deal. And negotiating your interest rate Ilis another key to not only get a loan but a good loan.
My question is, how do you get the property under contract first without having a lender? When I bought my house they asked me for a pre-approval letter from my lender
Wow... I'm also a miserable banker. I've wanted to get into Real Estate for a while, but conflicts of interest has been a frustrating hurdle... But, I am using my time constructively.
5 minutes in, to answer the question, I want to buy 1 house a year. But in reality, I also plan to buy 1 house a year. I have a good job and with the rental income and my job, I should be able to do it. Just trying to get my first house this year though. I didnt plan well enough to fit into their strict formula so I either patiently wait another 11 months or find a cosigner.
I think you better figure on only 55-60%. If you have deep pockets or partners with very deep pockets, or if you are related to the bank owner, you might get 85%.
Why don't rich investors just fund their own deals especially a spec home ? Why use a bank. My current senerio is I bought a lot half acre I have a blue print ready single family home. I plan to air bnb it or sell it after. I wish I could just fund the construction with my money. Can you reccomend a lender in Northern California rural area
Out of curiosity. When they figure the Debt to income ratio are they figuring that based off your personal income or are the basing it off a multi unit property?
I would buy 2-5 per week for about 5 years. I want to build a portfolio of rental properties that generates $4M netnet after property mgmt, staff, other expenses are subtracted.
Free for the first 5 uses?You cannot download a PDF unless you are a paid member. I spent an hour looking up actually numbers and filling out the calculator only to realize that I could not save the report. I wanted to try the report to determine if I wanted a paid membership or not. All the information was lost and time wasted...
Hey Brandon when you're in your 50s and you live in upstate NY and work for Walmart aint no way yo can buy houses with a 30 year mortage! I may be a very poor risk even if I'm lucky to get a good deal on sf houses etc...
I want to really start investing...I need financing...my credit union said they do not give loans on distressed property.. please help me...I'm in Chicago.
Can I hire or is there such a job a person who just analyzes deals? im a contractor i just want focus on property that needs just interior rehabbing then sell or rent it out once it's remodeled.
Another alternative is to connect with wholeseller or property agents and ask them to send you deals, they got the money for giving you the matching deals
Well....... I get self promotion and wanting to grow your brand. That said, we the viewing audience, would appreciate the "Two Minute" commercial instead of the Over FIVE MINUTES of your self promoting Commercial. To be honest,..... I skipped and skipped and skipped until you started sharing the informing on the subject matter that I clicked to hear in the first place. Maybe you could spread it out over and/or tie the self promotion using brief segments over the length of your videos. As an aside, the information given in this video is clear, specific, and highly valuable.
@@MetalBum I was wondering if if there was a way to estimate how much a given property might appraise for before actually bringing in an appraiser. To see if it is worth your while. Some way to save the hundreds of dollars that can be potentially wasted appraising a property that you know won't appraise for what it needs to
Brandon, you are slight off. I am a commercial banker and real estate investor, i structure, underwrite and present (sell) the deal internally to get it approved. I’m not soliciting. Just a fan.
Yep, that's the difference between the larger banks and the smaller banks. If you go to local banks you can talk to the organ grinder instead of the monkey.
@@onetwothree4148 mind using a different expression? I don't quite grasp what you're saying lol. I assume your saying better off going to the bigger bank n cut out the smaller guys and or middle men.
@@tylorchaffey9990 you have to talk to people with authority to make deals. Big banks are run by tight formulas and procedures, and it will be difficult for their employees to override typical guidelines for atypical situations. Here's an example: right after the housing crash I went mortgage shopping at age 22. The big banks offered me enough money to buy a nice car. The local bank was willing to loan me over twice the amount as the big banks. All the big banks wanted 5 years of credit history--which a 22 year old can't have. My local bank said, "you're 22 and you have a credit score in the mid 700s? You have saved how much cash? Obviously you are more responsible with money than someone who is 32 and has the same stats on paper. We want your business now, because you're ahead of the game, and we will want your business in the future"
Thanks Mark, I have two properties, the one has 200K equity, but i am not sure if the bank will want to loan me or advance me for a third, - i guess i need to find OPM :)
Consider our short attention span. Your personal life story is not what we clicked here for and is actually irrelevant to the subject matter. LTV is not used anymore. The banks want their required down payment based on the purchase price. LTV should be used, but lenders that I have used don't know crap about investing, they mainly want loans that they can sell the paper easily.
Hi i am from Malaysia, ive been wanting to signup for bigger pockets but somehow i cant. Is the scope for biggerpockets.com only for American citizens? Can someone help me out?
FACT > ALL BANKS AT THIS TIME REQUIRE THIS > now ALL equity loans require you to file proof of income, which includes W-2s with at least 2 years at your current employer, a verified income, evaluations of your current outstanding credit balances, income tax returns, FICO scores, and, of course, bank statements to show your current cash on hand. Sorry Brandon you must live where ? Another Country ? Cause the ABOVE REQUIREMENT IS BANKING LAW... not your quotes ... " Banks this, banks that.. " Now FEDERAL LAW IS THE SAME FOR ALL BANKS unless your relative is the BANK PRESIDENT !!!! Banks never work by how they " feel " or " want to see YOU IN A CERTAIN WAY.. unless mentally disabled ... " no.. the LAW EVERWHERE in the U.S. now for a LICENSED BANK is my research stated here now. Please correct me if these laws I quote ; are no longer in effect ! ALSO .. IF YOU DO NOT HAVE A CHECKING OR SAVINGS ACCOUNT AT THESE BANKS.. FIRST.. then NEVER WILL any Bank; LOAN to people in this situation.. What bank would.. or could.. you never name them ??? Not credible statments your making regarding " BANKS ".
Pay Star appreciated your statement, however, I must share this,especially when I hear the word NEVER. My last two properties I purchased at the same time was another blessing And the local bank who worked with me, did not require all listed items in your posted. In addition, I DID NOT have ANY account with them. Also, when I requested more funds after my last estimate was more, I DID NOT have any problems getting more. I share this because even more because I believe all things are possible and in many other business matters I was told NEVER or “not going to happen- I believe and kept the faith and things work out and sometimes better. I was concern about sometimes, however, the loan officer clear up things before my asking. Every location is different and the people, I guess is fair to say, NEVER say NEVER. Great share BPs
U. Lisa Williams thank you so much for sharing and correcting the above post. (Which I was very discouraged by) Could you please tell where you would best recommend getting educated about real estate? Where could I learn how to get financing for property investment to create cash flow? I would really really appreciate it.
Anthony C Hello Anthony, thank you for your response. I would immediately connect with a real estate investors group(REI) , my area is very limited, however, I also travel about 1 1/2 to a couple other groups. The coordinator for my local group is very knowledgeable and the members share great information. Also, I have meet bankers, buyers, and contractors in these groups, makes things easier and the discussion are impactful. I follow BP and a Max Maxell...the information in this video I would definitely utilize-many methods Brandon share is proven. Bottom-line Only you can make things happen, no matter what others may share and yes I understand the law side but what I open share with others and my partners, everything is negotiable, take away what you need to move forward, and build of the positive and negative. Just ask any of your friends, co-workers, etc. about their thoughts on investing in real estate, may be surprise. My apologies for the long reply! You got this! And someone is waiting to help you succeed/show you how to get that open line of credit.... Do a face 2 face with all banks/lenders. You got this!!!!! Stay focus on your journey, dreams, goals, stay dedicated!!! You got this!!! Lisa
U. Lisa Williams wow thanks so much Lisa for your response. Very helpful and encouraging I thought the same that face to face is necessary to see what is possible I want to ask you though, what if you have bad credit? Right now I have a lot of credit card debt.. (well it’s not a SUPER lot.. under $10k but I don’t make a lot of money with what I do at the moment) So is it possible to secure financing with ok or bad credit? What do you know about this personally? (I had Wells Fargo close one of my credit cards recently out of nowhere and I hadn’t even touched it for years.. because of my credit score going down I assume)
Skip straight to 7:30 ... thank me later
Thanks man. Good looking out.
Carter Alexander
yeah sometimes I'm reluctant to watch BiggerPockets videos and podcast because the intros are so incredibly long.
Carter Alexander thanks dude
Carter Alexander
thanks
Carter Alexander my ninja🙌🏽
I appreciate the simplified breakdown. Bigger Pockets just speaks in an understandable way. Thanks
Interesting how these guys provide valuable information like this without charging! We live in a time where people are so generous and are willing to reach out and help those who are struggling
This is a well worth it subscription...you guys make me feel more confident to step out an get my piece of the pie
its been 2 years...did you do it yet?
It's been 3 years. What progress have you made?
Ooooh my God thank you Soo much Brandon. I just started looking for funding to my very first deal
Dude, I can not stop to watch your videos. Great content.
So glad I found Bigger Pockets!!!
"sorry, we're out of money" 😂😂😂
Thanks Brandon, for sharing some of your wealth of knowledge - I enjoy listening (either consciously or as background sound...lol!). All of this info is very useful. There is so much to know, I'm also grateful that there is additional written forms on the website.
I could not find that 5 C's download on the BP site though.
Im little late but.. im finally here 🙏🏾
I'm running into issues with lenders not wanting to lend on loans of less than 125k. I have identified occupied, cash flowing, I have plenty of income only debt is primary residence, DSCR of 3.86, good COCR, cap rate, etc, turnkey, small multi family, prepared to put down enough to have 75% LTV that I only need to borrow 40k for and none of the lenders I've talked to will consider it. Just starting to explore community banks now.
You are a GREAT teacher!! Thank you.
I was a personal banker too I hated that job! But I did learned a lot though.
I love that about the cat lady threw up on the floor. OMG. 😂
Thanks Brandon... for sharing the 5 C's... to everyone . Standard accounting rules the bank knows work.. !
I have watched this video 3 times. I learn something different or say oh! I say I get it
Loan to value is what the seller is receiving if buying. I buy on the basis of what loan to value I can achieve. Lenders only accept projections to be built properties.
Very informative and well done. I learned a lot and hope to be able to start doing this myself while keeping my current business running. Do you think I am too old to do this at age 64?
Love it! Thank you Brandon.
Freakishly informative Master Brandon!!! OMG!!!!!
Hi, when you refinance your loan you get more money since the property is worth more but DONT you have to pay the new loan anyway? Does profit only exist when you sell the property at the value is appraised for?
No more begging the banks for loan
I went through my last borrow from bank process earlier this year.
What a nightmare. Every loan from bank is awful experience for me.
I borrowed this year to take advantage of low rates.
I have another rental property that I could refinance or take out HELOC, but I cannot take another long meticulous loan approval process.
I now have well over six figure cash value in my whole life policies, and will borrow from my own bank going forward.
What a relief to just make a phone call and say, I want to take a loan out, then complete a 1 page application and three to four days later, check is in the mailbox.
Not 3 to 4 months like a bank loan, but 3 to 4 days.
And, no sweating that FICO score. Approved, as application for policy loan is just a formality.
Also nice paying back loan on my terms, so I may not make any payments for first 6 months, or maybe 9 months, then pay back as much of the loan and in any time frame that I choose.
That’s infinite banking!
Wow I didn't think there was anyone that hated being a personal banker as much as me.
So valuable I appreciate the effort learned a lot in 36 mins
I just watched the video on Bigger Pockets "How to buy a property in 90 days". That video says that step 1 is funding and step 4 is to look for the property. This makes it sounds like I need to have already found the property that I want to make an offer on before I ask for funding.
That’s the difference between buying your first home or in this scenario, buying investment properties
If I’m not mistaken the first step is to get an estimate from banks how much money can they loan you based on your income and also how much money you own (for down payment), this will give you information of what price range of the property that you can buy, so you dont waste time looking for $1m property while you can only afford $300k ones. Though if you’re already advanced you can have many other financing options, but for beginner I think it really give you something to follow through easily
When should I get a property management company? With house 1? After 5 houses? What are some good property management companies in Savannah, Georgia? What are the fees and commissions involved?
Stephen Wilmoth
Depends on how much time you have free, condition of the property (s) and how handy you are. If in good condition just get service maintenance on boilers. get a cc for repairs and find a handy guy to call when needed. After 6+ , make your own construction company and blow things up, do your property and the other suckers
This way you cycle you expenses into the P side of your P&L
Thank you for the priceless info I'm on my way for another bank that will say Yes to us.
Great video Brandon! well done, thanks!!!
This is what I needed! The calculator is great.
Great information, how banker see a deal and what they need to let the underwriter sign off. Thanks for the inside!!
So informative. Took so many notes. Thank you
OK, I'm confused so banks won't lend LTV based on the actual value of the house but they lend you LTV based on the purchase price? And the FHA will lend 95% based on the LTV or based on the purchase price?
WAIT is BOA still offering 97% loan to value now days?
Some banks want to loan more money than you want to borrow. How do you handle that?
Valuable information! Thanks!
Excellent video. Best podcast on YT
Now days you apply online and they dont even care for your presentation. Good credit ,low to no debt,stable job and better if you have a good chunk in your savings is all you need. As long as the property is at a fair value in the given market condition. The hard part is finding the deal. And negotiating your interest rate Ilis another key to not only get a loan but a good loan.
My question is, how do you get the property under contract first without having a lender? When I bought my house they asked me for a pre-approval letter from my lender
Can you talk in more detail about Debt to Income? There is no way with making $100 per month on rental you have a 50% DTI.
great video love the humor too hahahaha
Wow... I'm also a miserable banker. I've wanted to get into Real Estate for a while, but conflicts of interest has been a frustrating hurdle... But, I am using my time constructively.
I love my new banker, he says yes.
What's his info?
My Brothers banker is
The Best! ✌️😎
5 minutes in, to answer the question, I want to buy 1 house a year. But in reality, I also plan to buy 1 house a year. I have a good job and with the rental income and my job, I should be able to do it.
Just trying to get my first house this year though. I didnt plan well enough to fit into their strict formula so I either patiently wait another 11 months or find a cosigner.
I’m about to refinance a large apartment. Worth $1.5m. How can I maximize the amount I pull out. I’m assuming 70% ltv
I think you better figure on only 55-60%. If you have deep pockets or partners with very deep pockets, or if you are related to the bank owner, you might get 85%.
Great video really enjoyed it.
Very informative. Thanks
Did you go the sole proprietor route or did you open up a corporation to protect your wealth??
With multifamilies its mandatory to even make an offer with LLC's and or Corps
As a Life Insurance Agent this is very informative.
Why don't rich investors just fund their own deals especially a spec home ? Why use a bank.
My current senerio is I bought a lot half acre I have a blue print ready single family home. I plan to air bnb it or sell it after. I wish I could just fund the construction with my money. Can you reccomend a lender in Northern California rural area
Great information Brandon thank you
Out of curiosity. When they figure the Debt to income ratio are they figuring that based off your personal income or are the basing it off a multi unit property?
loan to value after repair, right?
I wish you did these on fb live
What is a portfolio loan?
I would buy 2-5 per week for about 5 years. I want to build a portfolio of rental properties that generates $4M netnet after property mgmt, staff, other expenses are subtracted.
Any way to get a loan with new job and only 1 month of work history? Will a co-sign help? I'm a new mech engineer making about 70k per year
Free for the first 5 uses?You cannot download a PDF unless you are a paid member. I spent an hour looking up actually numbers and filling out the calculator only to realize that I could not save the report. I wanted to try the report to determine if I wanted a paid membership or not. All the information was lost and time wasted...
If I buy a property with private money, how soon after can I refinance with the bank to pay my private money back? Isn't it a year after?
rudalfy
You would pay right after closing since they will have a lien on it
Hey Brandon when you're in your 50s and you live in upstate NY and work for Walmart aint no way yo can buy houses with a 30 year mortage! I may be a very poor risk even if I'm lucky to get a good deal on sf houses etc...
Great stuff!!
What website did you use to breakdown the deal?
Biggerpockets.com
Great and very interesting information.
very valuable hope that there's someone like you in the philippines what do you think about the multi-family market in the philippines?
I want to really start investing...I need financing...my credit union said they do not give loans on distressed property.. please help me...I'm in Chicago.
Personal loan or borrow from retirement
Great Info THANKS!!!
So how do I get a loan for me buying land, building a house on and then flipping it. This is my first deal. Any advice
Business plan to present to bank for loan! You should be debt-free first.
Very Helpful ! Thank You Bigger Pockets
Are there any templates out there that we can use to put together the one page summary of the deal we want to submit to lenders?
Wow nevermind... Very valuable information and tools!!!
Good stuff dude. Thanks
Very useful video
My house is paid off , worth 180000, is it easier for me to get a loan to flip a house??
Great video
Can I hire or is there such a job a person who just analyzes deals? im a contractor i just want focus on property that needs just interior rehabbing then sell or rent it out once it's remodeled.
go to biggerpockets.com website and get on their forum and ask your question being area specific...that should help you. Or you can hire me!
Another alternative is to connect with wholeseller or property agents and ask them to send you deals, they got the money for giving you the matching deals
I love you Brandon.
Do you know of a private lender in Williamsburg Virginia
Are you that fast talking dude from that 1980s micro-machine commercials???
Right
Well....... I get self promotion and wanting to grow your brand. That said, we the viewing audience, would appreciate the "Two Minute" commercial instead of the Over FIVE MINUTES of your self promoting Commercial. To be honest,..... I skipped and skipped and skipped until you started sharing the informing on the subject matter that I clicked to hear in the first place. Maybe you could spread it out over and/or tie the self promotion using brief segments over the length of your videos. As an aside, the information given in this video is clear, specific, and highly valuable.
I live in L.A county. Real estate under 400k doesn't exist and homes under 500k aren't even worth it.
Love video, thanks
Dont they look at your credit score?
How do lenders ascertain a property's value for purposes of calculating the loan to value?
Owen Daniels appraisals
@@MetalBum so you need to shell out money for an appraisal, and if they don't fund your loan you're just out that money?
Owen Daniels yup
It’s about $250-600 depending on how big house or apartment
@@MetalBum I was wondering if if there was a way to estimate how much a given property might appraise for before actually bringing in an appraiser. To see if it is worth your while. Some way to save the hundreds of dollars that can be potentially wasted appraising a property that you know won't appraise for what it needs to
That was awesome!
Brandon, you are slight off. I am a commercial banker and real estate investor, i structure, underwrite and present (sell) the deal internally to get it approved. I’m not soliciting. Just a fan.
Yep, that's the difference between the larger banks and the smaller banks. If you go to local banks you can talk to the organ grinder instead of the monkey.
@@onetwothree4148 mind using a different expression? I don't quite grasp what you're saying lol. I assume your saying better off going to the bigger bank n cut out the smaller guys and or middle men.
@@tylorchaffey9990 you have to talk to people with authority to make deals. Big banks are run by tight formulas and procedures, and it will be difficult for their employees to override typical guidelines for atypical situations.
Here's an example: right after the housing crash I went mortgage shopping at age 22. The big banks offered me enough money to buy a nice car. The local bank was willing to loan me over twice the amount as the big banks. All the big banks wanted 5 years of credit history--which a 22 year old can't have. My local bank said, "you're 22 and you have a credit score in the mid 700s? You have saved how much cash? Obviously you are more responsible with money than someone who is 32 and has the same stats on paper. We want your business now, because you're ahead of the game, and we will want your business in the future"
Will this Process work in South Africa too?
Thanks Mark, I have two properties, the one has 200K equity, but i am not sure if the bank will want to loan me or advance me for a third, - i guess i need to find OPM :)
mark plower thanks for the info
Is Bigger pockets in Uk
Thank you very much!!
🎓🎓🎓🎓Brandon, Thank you, today I learned so very much. I can not wait to share with you a success story.🎓🎓🎓🎓
Consider our short attention span. Your personal life story is not what we clicked here for and is actually irrelevant to the subject matter. LTV is not used anymore. The banks want their required down payment based on the purchase price. LTV should be used, but lenders that I have used don't know crap about investing, they mainly want loans that they can sell the paper easily.
Your a genius
Great video!!!!!
Hi i am from Malaysia, ive been wanting to signup for bigger pockets but somehow i cant. Is the scope for biggerpockets.com only for American citizens? Can someone help me out?
afiq danial yes only in America
Do you recommend becoming a realtor if I want to become an investor?
hi i heard you say in your video conventional loan and portfolio loan what are those??
at what point can banks be not willing to lend money?
Great info, however to wordy and rambling. just keep it short clear concise and to the point.
Yep skip to 7:30
This is amazing
FACT > ALL BANKS AT THIS TIME REQUIRE THIS > now ALL equity loans require you to file proof of income, which includes
W-2s with at least 2 years at your current employer, a verified income, evaluations of your current outstanding credit balances, income tax returns, FICO scores, and, of course, bank statements to show your current cash on hand. Sorry Brandon you must live where ? Another Country ? Cause the ABOVE REQUIREMENT IS BANKING LAW... not your quotes ... " Banks this, banks that.. " Now FEDERAL LAW IS THE SAME FOR ALL BANKS unless your relative is the BANK PRESIDENT !!!! Banks never work by how they " feel " or " want to see YOU IN A CERTAIN WAY.. unless mentally disabled ... " no.. the LAW EVERWHERE in the U.S. now for a LICENSED BANK is my research stated here now. Please correct me if these laws I quote ; are no longer in effect ! ALSO .. IF YOU DO NOT HAVE A CHECKING OR SAVINGS ACCOUNT AT THESE BANKS.. FIRST.. then NEVER WILL any Bank; LOAN to people in this situation.. What bank would.. or could.. you never name them ??? Not credible statments your making regarding " BANKS ".
Pay Star appreciated your statement, however, I must share this,especially when I hear the word NEVER. My last two properties I purchased at the same time was another blessing And the local bank who worked with me, did not require all listed items in your posted. In addition, I DID NOT have ANY account with them. Also, when I requested more funds after my last estimate was more, I DID NOT have any problems getting more. I share this because even more because I believe all things are possible and in many other business matters I was told NEVER or “not going to happen- I believe and kept the faith and things work out and sometimes better. I was concern about sometimes, however, the loan officer clear up things before my asking. Every location is different and the people, I guess is fair to say, NEVER say NEVER. Great share BPs
U. Lisa Williams thank you so much for sharing and correcting the above post. (Which I was very discouraged by)
Could you please tell where you would best recommend getting educated about real estate? Where could I learn how to get financing for property investment to create cash flow? I would really really appreciate it.
Anthony C Hello Anthony, thank you for your response. I would immediately connect with a real estate investors group(REI) , my area is very limited, however, I also travel about 1 1/2 to a couple other groups. The coordinator for my local group is very knowledgeable and the members share great information. Also, I have meet bankers, buyers, and contractors in these groups, makes things easier and the discussion are impactful. I follow BP and a Max Maxell...the information in this video I would definitely utilize-many methods Brandon share is proven. Bottom-line Only you can make things happen, no matter what others may share and yes I understand the law side but what I open share with others and my partners, everything is negotiable, take away what you need to move forward, and build of the positive and negative. Just ask any of your friends, co-workers, etc. about their thoughts on investing in real estate, may be surprise. My apologies for the long reply! You got this! And someone is waiting to help you succeed/show you how to get that open line of credit.... Do a face 2 face with all banks/lenders. You got this!!!!! Stay focus on your journey, dreams, goals, stay dedicated!!! You got this!!! Lisa
U. Lisa Williams wow thanks so much Lisa for your response. Very helpful and encouraging
I thought the same that face to face is necessary to see what is possible
I want to ask you though, what if you have bad credit? Right now I have a lot of credit card debt.. (well it’s not a SUPER lot.. under $10k but I don’t make a lot of money with what I do at the moment)
So is it possible to secure financing with ok or bad credit? What do you know about this personally?
(I had Wells Fargo close one of my credit cards recently out of nowhere and I hadn’t even touched it for years.. because of my credit score going down I assume)
Anthony C oh and this video was presented in 2016- things have change some😊
I will use my own money. I don't believe in taking other folks money for property.
Oh Man-DUDE! The Out-of Money thing like...just KILLS me...like EVery SInge TIME! Like...dude! 18:20