Jaime, I'm actually sitting in a hotel in Lehi, near Salt Lake, right now.

I’m not local, so I’m trying to get a feel for what it’s actually like making deals in this market right now.

They aren't the actual bank so need to upcharge these fees and hoping in volume they can make enough to continue operating. 

Just make sure you're actually putting pen to paper and doing your due diligence on underwriting. 

What REI don't get, is equity is actually what you are paying for a property. 

A lot of training actually.

For those interested, a combination of mortgages with no “due on sale” clause, mortgage companies loose due diligence, and title insurers willingness to “turn a blind eye” to practices that wouldn’t pass scrutiny now, resulted in tactics like the “second mortgage crank” which not only allowed investors to purchase properties with no money out of pocket but allowed investors to actually walk away from closing with “cash in their pocket”.

I was actually just thinking about this the other day.

It was actually more of a townhouse (just zoned as a condo).

Pricing higher than a bank ( if you can actually get a bank to lend you money in the first place)2.