@Denver McClure Curious to get your thoughts here as I know you have some products

william penn bank does not have that product any more. 

They opened a new account, labeled it "trust" on the account and my checkbook, and that was it.

Hi, you seem like a potentially good candidate for DSCR Loans, a loan product that was essentially designed for exactly this - investors that want to build a portfolio relatively quickly and not be slowed down by DTI requirements or other hassles from conventional options.Would be glad to help, also check out this 12-part series published here on BP on everything you would ever want to know on this loan option!

You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary. 

I've had lenders offer products I didn't know were out there for buying certain types of properties as well.

When you go to a Bank or Credit Union, they can only offer you what products that bank or credit union offer.

The truth is, over the last few years, many of these people are barely cashflowing at all and the default rate with the banks on this product is skyrocketing.

It's a relationship game more than anything, so if you're building strong relationships with them and providing a consistent product, you'll be golden.

After spending 25 years as a Software Engineering and Product leader, I’m now exploring the world of real estate investing (REI) and looking forward to learning from all of you.My goal is to leverage my current investments and savings to build a real estate portfolio that will eventually allow me to transition away from my current career.