All Forum Posts by: Jeffrey Robison

Hi Bryant! I am just east of Tyler in Overton. We just moved from PA last year. 

Do you do any development projects? 

Hello all! I actually had this account from years ago, before my Realtor days and before my mortgage lending days. I live in the Tyler, TX area, but I hold my mortgage licenses in Pennsylvania and Texas. I lend Hard Money, Fix n Flip, DSCR, and Bridge mainly on the investor side. On the consumer side with QM I can handle conventional, FHA, VA, and USDA. Non-QM I can do things like bank statement, self-employed, ITIN, Jumbo, blah blah blah. Happy to be back here and if you have any questions just reach out!

Are you still stuck here? I may have a solution if you are.

What type of property and what type of financing are you getting? If it's a QM you won't be able to close in a business entity like a LLC, although in some cases you can transfer into an LLC after closing. That would be for the deed, so use care not to trigger the acceleration clause with your lender. Talk with your lender. Or, depending on the property you could go non-QM with like a DSCR loan and close in an LLC or partnership. I would need more info to really help, but feel free to reach out to me any time.

House hacking is probably your best option. Ask for seller concessions to cut down closing costs. Get some gift funds to help with the down payment if you can. Rock that for about 12 months and add some equity and then you could refi out to conventional so as you pay it down in the future the mortgage insurance will drop off. Then just roll into your next one. 

I just re-read and realized you're talking about getting loans for lien position 2, is that correct?

It kind of depends on the type of properties you're looking for funding on. If you have 1-4 unit residential that's already cash flowing I would go DSCR if you have a ratio of 1 or more. Let me know what kind of deals you have going and I can try to piece together some scenarios for you.

Hey Bill! I’m in that situation now. I can work when I want, except as soon as I stop the money stops. I own my own business and can set my own schedule. Unfortunately that schedule many times leads me to weeks on the road at a time. Im proud of what I built in trucking. It takes care of my family very well. I just want to be there to enjoy my success as well. 

My first ever real estate phone call turned into my first ever deal. 

It came from online marketing. I never sent a single letter. I never went driving for dollars. I have never cold called anyone. I set up a landing page and paid about $50 in google ads and the phone rang. 

I wanted it as a BRRRR but ended up letting it go as a wholesale deal when another investor approached me and offered a $6,000 assignment. The next week a check showed up from his attorneys office for $6,000.

That was my last deal, over 2 years ago. I made six grand in two weeks and walked away and didn't look back.

Why?

I felt like I achieved success on my first swing. I was afraid of what came next. I knew that would likely never happen again, so I shut it down.

I went back to my business in trucking and felt comfortable there. I'm working 70 hours a week and while I make great money, I have no time for my wife and three children. 

Anyway, I am glad to be here and I look forward to networking with you.

-Jeff