I appreciate hearing your process and approach to these situations. As much as i am inspired by Kiyosaki, you are definitely the #1 coach on youtube. Very thorough, never vague. Thanks for what you do.
Hey Cody! Thanks for the kind feedback. Being helpful, giving specifics, and most of all helping you and others make progress are why I'm on RU-vid in the first place. So, I really appreciate you saying that and I appreciate you following along!
Chad, your idea for and in-depth description of how to create a Credibility Package for lenders is insanely helpful!! I feel like I already owe you $100 bucks and I haven’t even watched the rest of the episode yet. 😂
Absolute gold. Coach thanks so much and wish you would make a playlist of all of your deep dives with industry providers (e.g. investor friendly agents, property managers, owners who provided owner financing, title/escrow officer, etc.). A true look behind the curtain.
@desmonddavis1105, Incredible idea for a playlist! We created it, and let us know if you have any feedback on it. Thank you! ru-vid.com/group/PL5F-I4oW-y2GdBJAFv4dtV0z-PLZpQDeE&si=Gb0LoIP1Fpg0gnYX
Hearing from someone like Chad who invested and lived through the Great Recession of 2008/2009 is invaluable. What he shares around the hour point, about what REALLY took his peers out in 2008 is truly invaluable, and so very applicable to today.
That's why when you're looking at a property on the m. L. Yes. And they always list the current taxes that they owner is paying. They should adjust it somewhat up to the asking price. Lotte people don't know that
I learned so much from this informational video. However, I tried explaining the BRRR method to my husband and how a lender like Lima Capital One fits into the picture and realized that I still have gaps in between. I'll be watching this video again and taking detailed notes! As always, thank you for asking pertinent questions, slowing down the guests and explaining the many abbreviations that the guests throw around excitedly while forgetting that they are talking to novices like me! BTW, I tried the Lima One link and the "Create an Account" option to no avail: It's not working on my iphone or laptop. I left a message this morning - hopefully I'll hear back soon. Meanwhile, I'll keep plugging away at learning more about this creative lending process.
@@CoachChadCarson These are my numbers: $90K for $2000 rent $55K for $1200-$1300 x 4 $35K for $500 $50K for $700 The result is >$2K rent per $100K spend
I spoke withthem before, but ended up using Lending One. What is their min loan requirement? SOme properties are below 75k and want to do a cash out refy? Thanks
Great interview. A couple items: 1. What would be a reason that you would no longer be qualified for a refi (if rehab was done correctly and no market change) & what terms would be in place moving forward? 2. Are rehab amounts done in draws or all up front?
1. Contacting the Lima One guys could probably give you best answer. But with traditional loans, your income changing (like job loss) or a negative credit hit would affect refi. But with investor mortgages it would have to be more about property or interest rates. Like higher rates might only allow you to borrow a smaller amount with property's income. 2. Most rehab loans done in draws.
This was a great episode! I’ve been stuck on what my first step should be with executing my first fix and flip. It’s helpful to know that building a team first then approaching a lender (expect skin in the game) is the approach. I’m having trouble picking out a market near me that I can drive up to 90 minutes to. I live in NYC. Once I pick a market, I can begin vetting property management companies to build the team and look for deals. I guess since I’m looking for distressed off market properties, do I need to connect with a wholesaler rather than a realtor? I have so many questions, thanks for all the info you share Coach!
