All Forum Posts by: Jason Norton

@Reginald Reynolds

I know when we do all of our closings every single one of the 30 lenders that we use they asked that the lender be an escrow company.

Hope this helped?

@Brian Garrett

I’ve had a lot of clients especially since Covid get in trouble with these type loans. Last year we kept track of these type of predatory loans and we were able to refinance and also in some answers help folks cash out when we did the refinance.

You really need to be careful though because a lot of these folks that are doing 100% financing all they’re doing is burying you in fees. We have a local lender here in the Alabama area who charges a 15% interest rate and with his fees on the loan at closing you’re actually paying close to 22%. For instance we took a client that had a loan with him at 15% he was breaking even and now he’s at 5.75% on a 20 year amortization schedule. Andrew was so happy with that deal we have helped him purchase two other properties and refinance another one.

@Qiong L.

We do this for clients all the time so go ahead and pay cash for the property and then come to us to get in some instances up to 80% LTV. Most companies want to do 70% of the actual cash that you paid out but some companies because you bought it right they'll go ahead and give you up to a certain leverage point of LTV. We have 30 Lender's to choose from so having that many lenders you should be able to find a leverage that works for you.

@Thomas Willingham

My question is why are you set up on a seven-year term with a 20 year amortization schedule?You will have to end up refinancing it anyways. Our clients come to us for 30 year amortization schedules and great rates.

@Neil G.

I’m working with a client right now kind of in the same predicament as a foreign national from Canada they’re finding it hard to get leverage. We were able to find them exactly what they needed and they are extremely happy. As a matter of fact they’re buying a six pack in Austin Texas.

My recommendation is always leverage your money always. If you have your cash in the correct account and you’re able to return get a return on your money that’s more than what your interest rate is on your 30 year amortization schedule you’re letting your properties pay for your house. A true investor should never have to pay their own bills.

@Sharise Scott

Are you paying cash or using leverage?

@Tim Lounibos

One question, what type of leverage are you expecting to have to come up with? And what type of product are you looking for?

Are you looking for a fix and flip, fix and hold, just hold or new construction?

The reason why I'm asking is because different areas call for different rates and also different ARV or LTV numbers.

@Jeff Terry

Everything you’re asking is a valid question. A lot of people get into real estate thinking it’s easy but there’s a lot of information like the questions you’re asking that they need to know. And they think they’re just salesman. You’re really not if you come out at more like we do on the Funding) side if you come out it more from a advisory standpoint and really do the research to help your clients like we do you have happier clients constantly.

I do wish as a whole real estate agents would learn more about their market and what they actually do than just being a salesman or a sales woman. I’m not saying you have to know every detail or baffle them with BS, but you should be able to know the basic questions that are being asked here. Me personally I classify it as common knowledge.

@Kevin H.

Crypto currency is like its own stock market Crypto currency can also go away. Real estate is the only thing that has ever stood the test of time. We have a lot of clients that are more interested in the passive income than trying to get rich quick.

@Jessica Fuller

Yes.

My team and I have investors all over Northern Alabama. I even have a Team that looks to do fixing flips fixing holes and 30 year amortization schedules on the southside of Huntsville where those two ZIP Codes are.