Mortgage Rates at All-Time Lows. So, Why Can't You Get a Loan??

[Mitch Messer]

If you are currently applying for a mortgage or HELOC, or are involved in a purchase transaction where someone is getting bank financing, or if you just want to understand how the mortgage lending ecosystem really operates, you need to check out the following excellent (and scary!) blog post:

http://financeonthefrontline.c...

No sales pitch, no product, just pure information.

Be sure to visit all the links cited in the post; there is some serious wisdom to be found there.

Don't be afraid; be informed!

[Mitch Messer]

@THU NGUYEN Right now I'm trying to buy every great rental deal I can get my hands on! I'm on the phone from the time I awake until I collapse into bed, talking to sellers, investors, JV partners, etc.

The 2008 Great Recession taught me to know my financials inside and out and to never, ever, buy a rental property based on the hope of appreciation. You cannot eat appreciation, and it can (and did!) disappear overnight.

I also learned not to hide and wait for things to get better, because they don't get better on their own. Take action! Cut your losses and move on, if you have to, but move!

See below for other lessons learned (I wrote this blog post back in 2018!):

https://www.biggerpockets.com/...