All Forum Posts by: Aleks Gifford

Legal Disclaimer: I am a licensed Mortgage Originator in IN, FL, OH anything I say may not be applicable to other states. NMLS#1157855.

This question is lacking in legs. There is no way as a lender I could advise you on this issue. In any case there are a number of mitigating factors that could take a solid answer and turn it into the other. What is your DTI, is it an under 90 day flip, condition of the property, credit history, is the money seasoned source of the property, source of the money, how did you arrive at that rate, what day of the week is it, what is the market doing, the seller started a short sale or foreclosure, what would the property appraise for is it an inclining or declining area?

The short answer is get a good lender who can tell you if it is a good loan then you can decided which is better after you have resolved the loan questions.

Congratulations! If you do not have a broker you might want to talk to @Stephen Barton about who he works with or recommendations.

Welcome,

Legal Disclaimer: I am a licensed Mortgage Originator in IN, FL, OH anything I say may not be applicable to other states. NMLS#1157855.

1. Listen to all the podcasts.

2. Find the local REI clubs/meetups.

3. Find a lending partner with knowledge an a wide selection of products.

4. Learn about self directed retirement accounts.

5. Learn two or three ways to work in RE incase one market has a down turn you have other options.

Legal Disclaimer: I am a licensed Mortgage Originator in IN, FL, OH anything I say may not be applicable to other states. NMLS#1157855.

Personally I require 2 years taxes, w2's and a tri-merge credit report before I will issue the letter.

Very rarely does one get through my pre-qual process and fail after-words. You need a better lending partner who sees you as the client to satisfy not the borrower.

FTL, Indian River, Naples, Port St. Lucie, Orlando. Essentially the east coast.

I am marketing in FL (Florida) (NMLS# 1157855) for mortgage leads and I need to have a few agents to which I can refer clients that do not have an agent. Most of my FL business has been refi however I am marketing for purchase and build business now. Please shoot me a message if you are interested. At this point it would only be one or two leads a month and I will not send them on to you unless I can pre-qual them.

feel free to call me at 317-362-3959 or email me at [email protected]. I live in downtown Indy and my office is in Noblesville we can always meet face to face and walk through it. 

Welcome,

Your strategy is a good strategy and one I recommend. More often than not people can raise their credit score by 50+ points in 30 to 60 days. I work with my investors to find out what their clients need to qualify for a loan with me. If you have any questions about how to implement this strategy from the exit strategy view point I would be glad to help you. There are several things you can do up front to help ensure your renter actual does end up buying and when they are ready to they actually are qualified.

Welcome. I am a lender out of Noblesville and work on a couple of development boards in Indy. Feel free to ask any questions and if I do not have the answer I will try and get it for you. I would recommend you listen to the podcasts. (They are full of good stuff.) I would also recommend you find every meeting/meetup you can and decide which ones suit your style.

Pod casts are awesome. Go to the meetups and meet people. Read everything on here. More than likely you will learn for free most if not all what a guru would charge you for. Ask questions.