All Forum Posts by: Michael J. Beasley

I recently signed up for a 0% APR credit card. Shortly thereafter, I got a thing in the mail from a local lender saying that I qualify for their discounted rate program: a $726,525 loan at 4.15% APR over 30yrs. I made $100,000 last yr working as a registered nurse in Long Island and my credit score is 775.

My question is this: how does one “shop around” for different lenders? Obviously you don’t go around getting credit inquiries, but they won’t tell you what programs you qualify for over the phone, right? Or will they?

@Ashton Levarek just got off the phone with a broker. Spent 24min picking his brain and communicating my vision. Thanks for the push. Small action steps...

I have family members who have type two diabetes who also say the same thing.  That’s what I mean when I say “using faith as a cop out“.  Everyone should have faith, but that doesn’t absorb all of us of our responsibility.  You can’t drink Coke every day and expect God to heal your  pancreas. 

If they keep wanting to low ball unreasonably, you have to decide whether they’re worth your time. I’m not an agent, but that’s my opinion. God will provide, no doubt, but  we also have to be realistic about what we are asking for.  No house flipper or homeowner is going to sell their house any less than market value, especially if the buyer is asking for closing costs to be covered. 

Try it and see what happens. What if they’re right? I’m a man of faith, but also very practical. I’ve seen all sorts of miraculous stuff, and I’ve seen people use their faith as a cop out. The beauty of your situation is that it’s a win-win for you. If the offer is accepted, it’s a chance to see God wok in their lives. And if the offer is denied, you get to be right and life will give them the feedback that they need. 

@Carolina E. Thanks for that. I’ll add that to my to do list.

@Nick C. I have done professional photography early in my career (wedding photography and video). I was thinking of building a real estate photography portfolio and providing agents with a photo or photo/video package (charge $500 or $850 respectively??). I’d love to hear your thoughts.

@Nathan G. You’d be surprised how many doctors smoke... but I digress. 😜

@Carolina E. Never thought to call up numbers on bandit sins. Good call! What’s CL?

I’m seeing that you have to be “in the loop” with a team. You need somebody bringing you deals (wholesaler or broker), you need a contractor, you need a lender (private or institutional), and you need an attorney. And you need to be able to mobilize all of those parts of the machine at the drop of a hat. As a novice/prospective investor, that sounds like an impossible task.

How did you guys/gals network to build your teams when you were in my shoes?

@Cody Jensen I had an agent quote me 5-7% for closing costs in Long Island.