All Forum Posts by: Account Closed

Hi Tommy - multifamily properties that cash flow are difficult to find in a decent area anywhere between LA - SD County, but if you buy with cash, you may be able to get a discount on the price.  You can then apply for a loan within the first 6 months - this is known as the fannie mae delayed financing exception.  There's some other criteria that needs to be met but I have several investing clients that do this as their common practice.  They want an 8% annual return (so the rents received should be at least 8% of the purchase price) to justify their investment.  That along with the potential for appreciation puts you in a good position for your investment to grow.

Hi Estelle - Will you be moving into the property as your primary residence? AZ is actually once of the best states as far as quality of life and cost of living are concerned. The tax rate is low and the property values are relatively low as well. I've done loans in about 35 different states and AZ is definitely one of the betters ones. HOA fees are more specific to the HOA than to the state. Theoretically the HOA fees should be contingent upon what the HOA is providing for you (landscaping , external aesthetics and potential coverage for the unit itself)

Hi Daniel -

FHA is very strict on employment gaps. You will need something called a Written verification of employment to document the probability of continuance as well as the history of your employment with that company. How long have you been working at your current employer?

I agree with all of that Ivy-  I've found that I need to do 3 things: 1) always communicate 2) close quickly (at least on time if not before COE date), and 3) PICK UP THE PHONE.

At this point in my career I'm really looking to cultivate relationships with realtors and other business professionals and add value to help the realtor, for example, grow.

Do you have a lender or 2 that you always use?  Anyone in my shoes can go on and on about their experience, the awards they received, the articles they have been mentioned in, the amount of loans they have funded and the loan products they can offer, but what really jumps off the page to you and makes you think in your head 'I really like this lender and I want my clients to utilize his services?'

In other words, how do I gain the privilege of having the chance to compete?  I have an affiliates that provides drone services, social media marketing, homeowner's insurance, etc., but would that incentivize you personally to use a certain lender?

Hello!  I've lived in the OC area for the last 6 years and have been writing residential mortgages for the past 5.  I've been very successful in the call center/inside sales environment and at this point in time I'm transitioning to more of an outside sales role and looking to organically grow my network and meet more real estate/mortgage professionals in the area. 

Real estate agents - what is it that aggravates you about the mortgage process?  What additional value can be added so that you close more deals and make your clients happy? All feedback is welcome.

Hello!  I've lived in the OC area for the last 6 years and have been writing residential mortgages for the past 5.  I've been very successful in the call center/inside sales environment and at this point in time I'm transitioning to more of an outside sales role and looking to organically grow my network and meet more real estate/mortgage professionals in the area. 

Real estate agents - what is it that aggravates you about the mortgage process?  What additional value can be added so that you close more deals and make your clients happy? All feedback is welcome.

Mark - did you acquire the property through death or divorce?  As Brent discussed, if you can meet the delayed financing exceptions, Fannie mae could provide a cash out option.  Thanks