Dave puts out the best and most informative content in the BP world, hands down.

@jeffthemortgageexpert

2 ай бұрын

He sure does! 😀

Truly awesome and not commonly known information. Looking forward to putting knowledge into action especially without a standard W-2. Thank you guys! Teresa

@jeffthemortgageexpert

3 күн бұрын

@tz1731 You're welcome and glad you enjoyed it! 😀

My Schedule E loses a shit ton. Write offs. Bonus depreciated a bunch as well.

This video is just what I needed!

Surprisingly, many lenders don't know about the forecasting rental income to qualify for the purchase. Seems like they are new to the industry.

Great video. Getting creative is one of the best things you can do as an investor. It pays off when you get creative.

@jeffthemortgageexpert

2 ай бұрын

Thanks and it sure is!

Great Info!

Wow! Thank you for all this info! Very useful to scale!

@jeffthemortgageexpert

2 ай бұрын

You're welcome and glad you enjoyed it! 😀

Can we get a show that focuses just on properties 4-10?

@jeffthemortgageexpert

2 ай бұрын

Great idea!

@priestesslucy3299

2 ай бұрын

4-10?

@jeffthemortgageexpert

2 ай бұрын

@priestesslucy3299 Scaling up from 4-10 properties is challenging and planning is the key to success. Zack is asking for a show that goes into detail explaining the best practices and strategies. Does that make sense?

@priestesslucy3299

2 ай бұрын

@@jeffthemortgageexpert it does, thanks

Great great information. Thank you

@jeffthemortgageexpert

2 ай бұрын

You're welcome and glad you enjoyed it!

Thank you

@jeffthemortgageexpert

2 ай бұрын

You're welcome!

Please share what brokerage are doing this loans thank you!!

@jeffthemortgageexpert

2 ай бұрын

We are and my contact info is in the show notes! Reach out if you have questions!

Can we get the loan guys information

@casasdenick

2 ай бұрын

Other loan guy checking in. Where are you located?

@jeffthemortgageexpert

2 ай бұрын

My website and contact info is in the show notes and I'm looking forward to connecting!

I'm curious why so many investors struggle to come up with the 15-25% down for conventional investment property loans. Are they just starting out? Are they seasoned investors but are running on razor thin margins with their existing properties? Are they holding properties with healthy cash flow but just want additional leverage so they can scale more quickly?

i have the same issue!!!! i can handle more monthly payments and just scratch my head when i get rejected.

@casasdenick

2 ай бұрын

Why did they say you were rejected?

@monkmysterio

2 ай бұрын

@@casasdenick that income to debt ratio thing they said

@casasdenick

2 ай бұрын

@@monkmysterio was this for an investment property? A DSCR loan might be the answer for you.

@jeffthemortgageexpert

2 ай бұрын

My advice is to get a second and third opinion. Many lenders struggle when working with investors and some have trouble calculating income correctly or have their own internal underwriting restrictions.

@monkmysterio

2 ай бұрын

@@jeffthemortgageexpert yep every bank is so different. They want to collateralize my renters basically, but since i have month-to-month they noted I have to switch to year long leases. I'll start shopping around. Thanks for replying!

Can I get a assest loan if I have large sum of moeny in mutual fond account?

Great information guys! Jeff- how does one who has passed the NMLS Safe exam get into the mortgage/lending field, in your opinion?

@casasdenick

2 ай бұрын

Research brokers/offices that you’d be interested in working for and start reaching out. Where are you located?

@aprilvancleve9463

2 ай бұрын

@@casasdenick Northwest Ohio region! Would you suggest heavily applying even though job descriptions ask for 2-5 years experience to start? Literally... Every job opening says that.

@casasdenick

2 ай бұрын

@@aprilvancleve9463 definitely, especially since you’ve already passed your exam. There are much fewer LO’s this year than last, and while experience may be listed in job postings I bet you can foster a relationship and still get your foot in the door. This business is about relationships over anything else. I started at what I thought was my dream brokerage simply by reaching out to the broker directly.

@jeffthemortgageexpert

2 ай бұрын

@@casasdenick Great advice!

Debt to income? Crazy! This whole time i thought DTI stood for down to intercourse...

@jeffthemortgageexpert

5 күн бұрын

@@lawnbear5958 😂

At 9:32 you mention 10% down on an str strategy loan but not via a vacation loan. Can you clarify what loan product that is.thats exactly what I need to scale faster.

@jeffthemortgageexpert

2 ай бұрын

The only option at 10% down is the vacation home loan and it is a personal use loan, not an investment property loan. Fannie Mae requires you to use it for some portion of the year for personal use and it cannot be used for long term rentals and there are no specific restrictions on short or mid term renting it while you are not using it for personal use. Freddie Mac, on the other hand, limits the max allowed rental days to 180 days. The 15% down option is the true investment property loan that allows us to scale faster because we are able to use the forecasted rent to qualify and it has a much smaller impact on our buying power (DTI). Typically the 15% down option will double your buying power compared to the 10% down option.

I need to buy property. I need more space for my businesses. I have a house I pay 1k/m but will rent out for 1700. My idea is to sell the house to buy the property. Would there be a way to keep the house and buy the property at the same time?

@JC-qu7iw

2 ай бұрын

Use a heloc on the house you own so you can keep your house and buy your new property

@casasdenick

2 ай бұрын

You can use up to 75% of the rent as income to help qualify for your new home loan.

@jeffthemortgageexpert thanks for this valuable information ℹ️ it’s interesting to learn about the different types of funding opportunities!

@jeffthemortgageexpert

2 ай бұрын

You're welcome and glad you enjoyed it!