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Speaker 1: Your hard money, guys, is going to be what's going

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Speaker 1: to get you through if a flip's going to take

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Speaker 1: you four months? Okay, how much is my rehab? How

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Speaker 1: much is my house? What kind of loan do I need?

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Speaker 1: Let me get in out of this thing? Okay? Fast

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Speaker 1: approval process doesn't take them all. I've seen them on

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Speaker 1: the rinted deal and on the phone. Doesn't take them long.

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Speaker 1: Less strings of credit requirements. They don't really check your credit.

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Speaker 1: I've never really had one look at my credit at all.

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Speaker 1: Now they don't know you your credit is who preferred

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Speaker 1: you seriously because how did you find this person? And

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Speaker 1: you'll find people that throw money at you all the time.

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Speaker 1: I'm a commercial lender. I don't advertise it. I don't

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Speaker 1: put it out there. I never will until unless your client.

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Speaker 1: But there are people who have access to that, but

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Speaker 1: deal with somebody who's in the business already can be

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Speaker 1: used for properties that don't qualify for traditional mortgage instead.

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Speaker 1: It's true, but now attending and investments is where we're at.

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Speaker 1: The cons their higher interest rate loans and fees and

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Speaker 1: traditional mortgage is yes, don't be surprised if it's ten,

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Speaker 1: twelve percent, fifteen percent for ninety days. I'm not tripping

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Speaker 1: on that at all. I need the money. I'm in,

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Speaker 1: I'm out. I'm okay because what I'm going to replace

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Speaker 1: it with pays them off, and I'm fine with that.

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Speaker 1: Chart to repayment terms often less than three months, three years,

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Speaker 1: Sorry they are. You don't have hard money for long.

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Speaker 1: You don't want to be that's too high interest rate

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Speaker 1: to pay for too long. Require larger down payment, often

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Speaker 1: thirty percent. There sometimes your heart. Them in private money

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Speaker 1: pay for each other and the and the deals, what

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Speaker 1: they're investing in. I'm having money, having money and private money,

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Speaker 1: private money, private money. Let's go into private money. Let

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Speaker 1: me see where we at with the private money. Let's see.

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Speaker 1: I don't think I have had private money up here.

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Speaker 1: Let me go private money from here. That's the one

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Speaker 1: that didn't have private money. More flexible lining pres here

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Speaker 1: than traditional mortgage is Yes, fast approval process. Yes, may

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Speaker 1: offer lower interest rates than hard money, and they do. Okay,

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Speaker 1: they're coming from a private person. It may be from

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Speaker 1: it may be a situation where it could even be

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Speaker 1: a smaller institution. Okay, traditional FHA be of a credit union.

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Speaker 1: That's your traditional private money. If you can't get anywhere else,

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Speaker 1: and you're trying to bridge yourself for a year. It's possible.

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Speaker 1: But on the investment side, I use private money and

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Speaker 1: hard money together for my flips, and I think that's

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Speaker 1: the best route to go. Higher interest and fees and

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Speaker 1: traditional Yes, may require a log of down payment. Yes,

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Speaker 1: may require a personal raship with the lender. Of course,

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Speaker 1: of course, you just can't pull these guys out of

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Speaker 1: the air, or should you want to? Okay, nor should

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Speaker 1: you want to? Everybody doing go so far? I know

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Speaker 1: I'm covering a lot of stuff. I don't want to

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Speaker 1: insult anyone's intelligence either. I know some of y'all based

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Speaker 1: on the comments that would in the chat before and

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Speaker 1: study all some of y'all gurus already. So y'all might

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Speaker 1: be a need to be a teacher assistant because I

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Speaker 1: saw y'all your debt covered ratio questions. So everybody goes

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Speaker 1: so far. I don't want to lose nobody, Okay, all right?

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Speaker 1: That I hate that. I don't like asking questions with you.

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Speaker 1: I'm just making it so, y'all good. All right, let's

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Speaker 1: see private boom seller finance. I'm trying not to be

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Speaker 1: How can I say this, I don't want to swear

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Speaker 1: one way or the other, but seller finance, I'm gonna

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Speaker 1: drop a small diamond, y'all. If you understand how to

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Speaker 1: use the financing in real estate, you can understand how

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Speaker 1: to use the same financing to buy a business as well.

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Speaker 1: It's not that different at all. And when you get

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Speaker 1: those two together, listen to me, you can be the

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Speaker 1: true investor. Trust and believe me. Seller financing biased. Yeah

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Speaker 1: you know, I'm trying not to be, all right, So

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Speaker 1: seller financing may be easier to qualify for than traditional markets.

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Speaker 1: You're dealing with the seller. You're dealing with the homeowner

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Speaker 1: if they're not trying to get their money right now,

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Speaker 1: and they can take a note from you and they

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Speaker 1: can trust you, they're fine. Most effectsable repayment terms and

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Speaker 1: interest rates can be a good option for properties that

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Speaker 1: do not qualify for traditional financing.

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Speaker 2: This episode is brought to you by P and C Bank.

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Speaker 3: An illegal alien from Guatemala charged with raping a child

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Speaker 3: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 3: accused of murdering a Texas man of Venezuelan charged with

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Speaker 3: filming and selling child pornography in Michigan. These are just

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Speaker 3: some of the heinous migrant criminals caught because of President

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Speaker 3: Donald J. Trump's leadership. I'm Christy Nohm, the United States

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Speaker 3: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 3: crossings are at the lowest levels ever recorded, and over

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Speaker 3: one hundred thousand illegal aliens have been arrested. If you

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Speaker 3: were here illegally, your next you will be fine nearly

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Speaker 3: one thousand dollars a day. Imprisoned and deported, you will

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Speaker 3: never return. But if you register using our CBP home

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Speaker 3: app and leave now, you could be allowed to return

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Speaker 3: legally do what's right. Leave now. Under President Trump, America's laws,

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Speaker 3: border and families will be protected sponsored by the United

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Speaker 3: States Department of Homeland Security.

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Speaker 1: Now you're like, well, what properties, coach don't apply for

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Speaker 1: general financing? Like how that work? Why would that be

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Speaker 1: a situation? Well, there are some homes that five homes

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Speaker 1: that can be hard to mortgage. Now y'all need to know.

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Speaker 1: This is not a part of the class course work.

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Speaker 1: But I'm like, you know what they need to know.

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Speaker 1: Please have an idea, So please put this link in chat.

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Speaker 1: You need to know what homes could fall into a

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Speaker 1: bad situation. An overbuild house. Some new investors lose their

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Speaker 1: pants because they go this route too fast. Is the

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Speaker 1: prettiest house on the block? Is the biggest house on

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Speaker 1: the block? I want that? But hold on. Remember with

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Speaker 1: last class, and for those of y'all who the first

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Speaker 1: time here, that's something called a CMA, a comparative market analysis.

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Speaker 1: You're gonna pull the top three to five homes that's

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Speaker 1: sold in that area. If I'm looking at a four bedroom,

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Speaker 1: two bath, two harger rides x square footage, Jada YadA,

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Speaker 1: and I want to see what that house should A

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Speaker 1: praise for should sell for I'm gonna pull your realtor

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Speaker 1: will pull the CMA and see, Okay, according to this

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Speaker 1: you three hundred thousand, but this house got so many

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Speaker 1: more features. The owner one's four hundred thousand. Now, bro,

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Speaker 1: you ain't getting that much money. I don't care how

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Speaker 1: much you put into it. So sometimes you can overvalue

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Speaker 1: your house by putting too much into it. Now that's

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Speaker 1: your forever home, do you think? Do you think? Because

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Speaker 1: you could affect somebody's comps. But any smart realtor will

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Speaker 1: pull you out anyway. But be careful not to get

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Speaker 1: caught up indep homes. Okay, unpermitted work. That's why you

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Speaker 1: need a good crew. You got to pull your trade

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Speaker 1: permits to make sure that the work is done. You

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Speaker 1: don't have code violations. Now, as an investor, I mentioned

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Speaker 1: this last week. See this little term here that says

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Speaker 1: code violations. I'm going to my county clerk office and

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Speaker 1: I'm pulling my code violations. You can do this now.

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Speaker 1: All the code violations is a list of them, and

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Speaker 1: the best ones when they got code violations and they moved.

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Speaker 1: It's another class, but it's a good way to find

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Speaker 1: investment properties. The code violations. Now I'm working kitchen or

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Speaker 1: other major problems in the house. You're not gonna get

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Speaker 1: along because it won't pass inspections, it won't get it

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Speaker 1: won't be able to get along. Okay, I lost my

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Speaker 1: skin and I mentioned this before a house I flipped.

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Speaker 1: We didn't look at the piping. They came in with

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Speaker 1: a three D thing, checked underground and pipes was leaking.

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Speaker 1: The old pipes, so we have to redo the pipe

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Speaker 1: before we close. And I didn't get a chance to.

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Speaker 1: I I just broke ethan. Okay, so that happened to you.

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Speaker 1: Flip too often. If a thirty property is okay with

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Speaker 1: most banks, banks know you go make your money, then

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Speaker 1: I stupid. But if this thing has been flipped over

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Speaker 1: and over and over and too many times recently, and

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Speaker 1: they can do a title search and they will and

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Speaker 1: they can tell chain the title if it's been flipped

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Speaker 1: too often, now they won't touch it. So you have

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Speaker 1: to know this. That's why I get your team realtor

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Speaker 1: trade GC Title company. Is your is like that ace

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Speaker 1: and a hole Because if I see a property, I'm like,

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Speaker 1: you know, hey, do a title search on this. I

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Speaker 1: like it, But check this out for me. I got

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Speaker 1: my man software, so I can go in and pay

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Speaker 1: a couple of bucks and run a title search myself.

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Speaker 1: When you do that, then you hit them up again

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Speaker 1: and say, hey, I found this. Can you verify this

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Speaker 1: from the boom over' good mother in law homes. This

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Speaker 1: is becoming more prevalent, though I'm not sure where in

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Speaker 1: the country y'all at. That's a thing called ADUs accessory

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Speaker 1: dwelling units. They're becoming more prevalent, and zoning is allowing

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Speaker 1: this more California big time. So adu's check Q zoning

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Speaker 1: understand where this is at. Because if you can put

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Speaker 1: an ADU on listen, I like the little houses. Let

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Speaker 1: me get the house, let me get the lot. And

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Speaker 1: especially if you know how to build on these lots.

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Speaker 1: You know, like a fifty by one hundred lot is

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Speaker 1: like a standards small lot. Write that down fifty x

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Speaker 1: one hundred, fifty by one hundred a lot. You can

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Speaker 1: build a two story situation. You're good. So if I'm

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Speaker 1: looking at something that's got a little pie shaped lot,

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Speaker 1: I can put something on the back. I'm gonna do

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Speaker 1: it again another way to make investments. But these are

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Speaker 1: the five things that can call you or the slides

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Speaker 1: a way that you cannot get a mortgage. You don't

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Speaker 1: want to get into these deals and not build to

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Speaker 1: get a mortgage on it.

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Speaker 3: An illegal alien from Guatemala charged with raping a child

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Speaker 3: in Massachuset. An MS thirteen gang member from Al Salvador

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Speaker 3: accused of murdering a Texas man of Venezuelan charged with

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Speaker 3: filming and selling child pornography in Michigan. These are just

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Speaker 3: some of the heinous migrant criminals caught because of President

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Speaker 3: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 3: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 3: crossings are at the lowest levels ever recorded, and over

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Speaker 3: one hundred thousand illegal aliens have been arrested. If you

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Speaker 3: are here illegally, your next you will be fine nearly

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Speaker 3: one thousand dollars a day, imprisoned and deported, you will

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Speaker 3: never return. But if you register using our CBP home

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Speaker 3: app and leave now, you could be allowed to return legally.

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Speaker 3: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 3: border and families will be protected.

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Speaker 1: Sponsored by the United States Department of Homeland Security,