All Forum Posts by: Rodney G.

Give me a couple days and I'll give you a call. I'm working pretty far out with occasional reception.

Yes A private lender and not a traditional bank.  In this small community, I would prefer not to use any of the local banks. And larger banks outside of here aren't usually willing to loan on land this far out.  I'll likely have to just get a large personal loan through sofi or lightstream but thought I'd see what options were out there.

Sorry to ask such a simple question. Looking to refinance some raw land that is next to our primary residence. Not looking to go through a traditional bank. Down near Telluride. Any suggestions?

Thank you!

Anyone out there with permit experience? Not looking for free help. I can pay or if you want to come stay at our Airbnb between Ridgway and Telluride, that can be arranged.  Had some bad luck with people around here. I already tried in the Network link and no luck there with anyone.  We are in San Miguel county. I have some of this done and working on it every day but I'd rather find someone with experience. 

Rodney

https://www.sanmiguelcountyco....

Sorry, I don't do much with the forums. I am trying to change that though. I ended up going through a combination of Timberline bank and Vectra bank in Montrose. Alpine and Citizen wouldn't touch it. It's the old Ski Dallas ski hill. 

Back in the 2000's I was a loan officer. I have the phone number, website and business name 480Qualify.  I had a lot of success generating leads. I won't bore you with the details but I left loans all together.  I had always planned on getting back into it and being my own broker. A lot of years went by and I'm living in Southern Colorado now. 

Through a realtor friend in Gilbert, I've recently been approached by a couple of mortgage brokers and hard money lenders to see if I'd be willing to sell or partner with. Being that I have no experience partnering with anyone in business. I thought I'd come here and ask for some feedback.  I have no clue what to ask for in a partnership.  I would love to do loans again. I still voluntarily help quit a few people get into the position of buying homes. Should I ask for a percentage of each deal that is generated through the business?  I think selling it will get me very little as I have no records of its previous success. 

For anyone not familiar with vanity numbers here is a little info and part of my pitch. 

In 1999 a study was conducted by Michael J Motto. They found that 1800-NEW WHEELS pulled 14 times more calls than it's numeric equivalent when used with identical radio spots.


Having your vanity phone number as your business is that you can advertise on Adopt a highway signs. Generally you can't have a phone number on them. When your phone number is your business name, you can.


Whether it's used on a website, billboard, radio or TV. A vanity number will generate more leads.

Vanity numbers and website urls using vanity numbers are 50% more likely to get a response from clients

Vanity numbers assist the promotion of companies with their brand. They create a market of recognition.

Thank you for any thoughts, advice or feedback. 

Thank you Mark and everyone for your replies. I've pretty much taken care of the financing since I posted this. Even though I've listened to the podcast for years I'm still newer to the forums and where to post things. Sorry should of taken my time and looked a bit longer.  

Mark maybe if we ever meet I'll tell you the 1.5 year long story on this house and all the drama involved with it. I should probably write it all down before I forget.  If you happen to know of a good shower tile guy I'd love his number. I talked to one guy and he wants to be paid upfront...  

Any idea how I delete this post?

I wouldn't post this but rural lenders are difficult. 

Property is off a cistern and certified spring. Has propane and electricity. Year round access although 4wd is needed in Winter even though it's plowed. 

Just off of highway 62 between Telluride and Ridgeway. Used hard money and have finished remodeling. Bought for  $430k for 3200 sf and 40 acres. Three rentals on property. We have a lot of interest and expect 4k a month but haven't signed any leases yet. 

We've had it for one month and would like to refi it. I expect it'll appraise around $650k. Would love to refi cashout on appraisal but I know that isn't likely. Refi off purchase is good enough.

Me
120k yearly
740ish fico

Thanks in advance for any suggestions or upgrades I can make to the property. and

Thanks in Advance