We work as your consultant with a flat fee of $1,000 regardless the size of your loan.
Most brokers charge you 2% to 4%, this could very easily add up to $3K to $5K or more.
Most of the time the lender will pay us half of a point (.5%) up to one point (1%) based on the volume we send them. (See our consulting agreement.)
We have lenders that don’t care about a criminal background. We need to know so we don’t embarrass you when the lender discovers this. And more importantly declines your loan at the last minute which may cause you to lose your earnest money.
Not required, but some lenders offer better loan terms and lower fees if you do have good credit. Please make sure we know if you have a high score.
Not required, if you prefer to not sign personally then you will get a lower loan approval amount.
Most lenders don’t care. But we need to know so we don’t submit you to a lender that does care.
You will need to provide the additional funds to rehab the home if your rehab exceeds the purchase price.
Yes, but these loans can be a challenge to get funded. Many lenders automatically decline loans that have rural characteristics. (ie, no sidewalks, street lights etc.)
If you insist on buying in an area like this you will need 30 to 40% down payment.
You can go to http://www.citypopulation.de/search.html to see the city population.
No, we have a handful of lenders that will take your first deal
Yes, we’d strongly recommend that you have at least two CMA’s from different agents. Making sure you have the most accurate assessment of value is very important to you making a profit.
You will need a business entity for us to help you. (You can have this set up in 2 weeks or less) We can get you connected to Advanced REE to help you get this going.
Yes. The key to buying from an auction is you must be able to enter the home to let the appraiser in the house to do the appraisal inspection.
● Transactional Funding Fix and Flip
● Buy & Hold / Rental Property
● Line of Credit
● New Construction
● Cash Out Refinance
● Blanket Loan
● Cross Collateral
● Joint Venture
We can do 100% Financing on Transactional Funding / Wholesale deals for all US Citizens and Foreign Nationals. On a fix and flip a foreign national that wants to buy in the USA will typically need 10% more down on a fix and flip if it’s their first deal. With experience this requirement goes away.
Yes! Most all lenders today will allow you to finance the rehab repairs into the loan. We have some lenders that will finance 100% of the rehab. Very nice product!!
Each state / country has different lending laws. As a consultant we are able to assist within the regulations that work for that location. Our goal is to be a support and resource to the students. Call us as much as needed 480-372-8083.
Yes, Here are some examples you can use.
Escape or exit clause, offer contingent upon partners approval.
Put a cure period of 10 days automatic extension if your loan has challenges closing
Property to appraise for purchase price.
Property to pass home inspection.
Property have a clear title.
Typically 5-21 days. If you must fund fast we have lenders that can do it, they just require you to put about 30% down but they can fund your deal in as little as 5 days. Most borrowers want as money as we can get them and these deals take time to get funded. The reason we ask for 30 days is to protect your earnest money in care there is an issue. The speed of close depends on the property location, your experience, the amount of money you are putting down, if you want the lender to fund the rehab for you etc.
We work as a consultant and help you process, package and place your loan with a lender. As a consultant we can perform this service in all 50 states.
Loan cost vary based on the state, city, loan amount, lender, appraisal, title, hazard insurance policy, underwriting & processing fees etc. that is why we have the deal analyzer calculators so you can get a quick idea of what it will cost you for a down payment and what your projected profit will be based on the deal specific numbers you input.
We help you find an equity-based lender which is primarily based on the investment property and the overall profit potential of the deal. The key to getting a fast pre-approval is submitting your borrower documents especially your rehab estimate.
$25,000 would be the lowest loan amount we are aware of. If less than that is needed you’ll want to find an individual private money lender to help you.
Yes! We know of a few lenders that will allow for this.
Depends on how much money you want to put down. If you are willing to put 50% down you will not need any documentation. If you want to put as little down as possible then you will need a lot of documentation to prove to the lender you are a good risk.
We can do 100% Financing on Transactional Funding / Wholesale deals for all US Citizens and Foreign Nationals. On a fix and flip a foreign national that want to buy in the USA will need 10% more down on a fix and flip.