Speaker 1: Your hard money, guys, is going to be what's going
Speaker 1: to get you through if a flip's going to take
Speaker 1: you four months? Okay, how much is my rehab? How
Speaker 1: much is my house? What kind of loan do I need?
Speaker 1: Let me get in out of this thing? Okay? Fast
Speaker 1: approval process doesn't take them all. I've seen them on
Speaker 1: the rinted deal and on the phone. Doesn't take them long.
Speaker 1: Less strings of credit requirements. They don't really check your credit.
Speaker 1: I've never really had one look at my credit at all.
Speaker 1: Now they don't know you your credit is who preferred
Speaker 1: you seriously because how did you find this person? And
Speaker 1: you'll find people that throw money at you all the time.
Speaker 1: I'm a commercial lender. I don't advertise it. I don't
Speaker 1: put it out there. I never will until unless your client.
Speaker 1: But there are people who have access to that, but
Speaker 1: deal with somebody who's in the business already can be
Speaker 1: used for properties that don't qualify for traditional mortgage instead.
Speaker 1: It's true, but now attending and investments is where we're at.
Speaker 1: The cons their higher interest rate loans and fees and
Speaker 1: traditional mortgage is yes, don't be surprised if it's ten,
Speaker 1: twelve percent, fifteen percent for ninety days. I'm not tripping
Speaker 1: on that at all. I need the money. I'm in,
Speaker 1: I'm out. I'm okay because what I'm going to replace
Speaker 1: it with pays them off, and I'm fine with that.
Speaker 1: Chart to repayment terms often less than three months, three years,
Speaker 1: Sorry they are. You don't have hard money for long.
Speaker 1: You don't want to be that's too high interest rate
Speaker 1: to pay for too long. Require larger down payment, often
Speaker 1: thirty percent. There sometimes your heart. Them in private money
Speaker 1: pay for each other and the and the deals, what
Speaker 1: they're investing in. I'm having money, having money and private money,
Speaker 1: private money, private money. Let's go into private money. Let
Speaker 1: me see where we at with the private money. Let's see.
Speaker 1: I don't think I have had private money up here.
Speaker 1: Let me go private money from here. That's the one
Speaker 1: that didn't have private money. More flexible lining pres here
Speaker 1: than traditional mortgage is Yes, fast approval process. Yes, may
Speaker 1: offer lower interest rates than hard money, and they do. Okay,
Speaker 1: they're coming from a private person. It may be from
Speaker 1: it may be a situation where it could even be
Speaker 1: a smaller institution. Okay, traditional FHA be of a credit union.
Speaker 1: That's your traditional private money. If you can't get anywhere else,
Speaker 1: and you're trying to bridge yourself for a year. It's possible.
Speaker 1: But on the investment side, I use private money and
Speaker 1: hard money together for my flips, and I think that's
Speaker 1: the best route to go. Higher interest and fees and
Speaker 1: traditional Yes, may require a log of down payment. Yes,
Speaker 1: may require a personal raship with the lender. Of course,
Speaker 1: of course, you just can't pull these guys out of
Speaker 1: the air, or should you want to? Okay, nor should
Speaker 1: you want to? Everybody doing go so far? I know
Speaker 1: I'm covering a lot of stuff. I don't want to
Speaker 1: insult anyone's intelligence either. I know some of y'all based
Speaker 1: on the comments that would in the chat before and
Speaker 1: study all some of y'all gurus already. So y'all might
Speaker 1: be a need to be a teacher assistant because I
Speaker 1: saw y'all your debt covered ratio questions. So everybody goes
Speaker 1: so far. I don't want to lose nobody, Okay, all right?
Speaker 1: That I hate that. I don't like asking questions with you.
Speaker 1: I'm just making it so, y'all good. All right, let's
Speaker 1: see private boom seller finance. I'm trying not to be
Speaker 1: How can I say this, I don't want to swear
Speaker 1: one way or the other, but seller finance, I'm gonna
Speaker 1: drop a small diamond, y'all. If you understand how to
Speaker 1: use the financing in real estate, you can understand how
Speaker 1: to use the same financing to buy a business as well.
Speaker 1: It's not that different at all. And when you get
Speaker 1: those two together, listen to me, you can be the
Speaker 1: true investor. Trust and believe me. Seller financing biased. Yeah
Speaker 1: you know, I'm trying not to be, all right, So
Speaker 1: seller financing may be easier to qualify for than traditional markets.
Speaker 1: You're dealing with the seller. You're dealing with the homeowner
Speaker 1: if they're not trying to get their money right now,
Speaker 1: and they can take a note from you and they
Speaker 1: can trust you, they're fine. Most effectsable repayment terms and
Speaker 1: interest rates can be a good option for properties that
Speaker 1: do not qualify for traditional financing.
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Speaker 3: An illegal alien from Guatemala charged with raping a child
Speaker 3: in Massachusetts. An MS thirteen gang member from El Salvador
Speaker 3: accused of murdering a Texas man of Venezuelan charged with
Speaker 3: filming and selling child pornography in Michigan. These are just
Speaker 3: some of the heinous migrant criminals caught because of President
Speaker 3: Donald J. Trump's leadership. I'm Christy Nohm, the United States
Speaker 3: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 3: crossings are at the lowest levels ever recorded, and over
Speaker 3: one hundred thousand illegal aliens have been arrested. If you
Speaker 3: were here illegally, your next you will be fine nearly
Speaker 3: one thousand dollars a day. Imprisoned and deported, you will
Speaker 3: never return. But if you register using our CBP home
Speaker 3: app and leave now, you could be allowed to return
Speaker 3: legally do what's right. Leave now. Under President Trump, America's laws,
Speaker 3: border and families will be protected sponsored by the United
Speaker 3: States Department of Homeland Security.
Speaker 1: Now you're like, well, what properties, coach don't apply for
Speaker 1: general financing? Like how that work? Why would that be
Speaker 1: a situation? Well, there are some homes that five homes
Speaker 1: that can be hard to mortgage. Now y'all need to know.
Speaker 1: This is not a part of the class course work.
Speaker 1: But I'm like, you know what they need to know.
Speaker 1: Please have an idea, So please put this link in chat.
Speaker 1: You need to know what homes could fall into a
Speaker 1: bad situation. An overbuild house. Some new investors lose their
Speaker 1: pants because they go this route too fast. Is the
Speaker 1: prettiest house on the block? Is the biggest house on
Speaker 1: the block? I want that? But hold on. Remember with
Speaker 1: last class, and for those of y'all who the first
Speaker 1: time here, that's something called a CMA, a comparative market analysis.
Speaker 1: You're gonna pull the top three to five homes that's
Speaker 1: sold in that area. If I'm looking at a four bedroom,
Speaker 1: two bath, two harger rides x square footage, Jada YadA,
Speaker 1: and I want to see what that house should A
Speaker 1: praise for should sell for I'm gonna pull your realtor
Speaker 1: will pull the CMA and see, Okay, according to this
Speaker 1: you three hundred thousand, but this house got so many
Speaker 1: more features. The owner one's four hundred thousand. Now, bro,
Speaker 1: you ain't getting that much money. I don't care how
Speaker 1: much you put into it. So sometimes you can overvalue
Speaker 1: your house by putting too much into it. Now that's
Speaker 1: your forever home, do you think? Do you think? Because
Speaker 1: you could affect somebody's comps. But any smart realtor will
Speaker 1: pull you out anyway. But be careful not to get
Speaker 1: caught up indep homes. Okay, unpermitted work. That's why you
Speaker 1: need a good crew. You got to pull your trade
Speaker 1: permits to make sure that the work is done. You
Speaker 1: don't have code violations. Now, as an investor, I mentioned
Speaker 1: this last week. See this little term here that says
Speaker 1: code violations. I'm going to my county clerk office and
Speaker 1: I'm pulling my code violations. You can do this now.
Speaker 1: All the code violations is a list of them, and
Speaker 1: the best ones when they got code violations and they moved.
Speaker 1: It's another class, but it's a good way to find
Speaker 1: investment properties. The code violations. Now I'm working kitchen or
Speaker 1: other major problems in the house. You're not gonna get
Speaker 1: along because it won't pass inspections, it won't get it
Speaker 1: won't be able to get along. Okay, I lost my
Speaker 1: skin and I mentioned this before a house I flipped.
Speaker 1: We didn't look at the piping. They came in with
Speaker 1: a three D thing, checked underground and pipes was leaking.
Speaker 1: The old pipes, so we have to redo the pipe
Speaker 1: before we close. And I didn't get a chance to.
Speaker 1: I I just broke ethan. Okay, so that happened to you.
Speaker 1: Flip too often. If a thirty property is okay with
Speaker 1: most banks, banks know you go make your money, then
Speaker 1: I stupid. But if this thing has been flipped over
Speaker 1: and over and over and too many times recently, and
Speaker 1: they can do a title search and they will and
Speaker 1: they can tell chain the title if it's been flipped
Speaker 1: too often, now they won't touch it. So you have
Speaker 1: to know this. That's why I get your team realtor
Speaker 1: trade GC Title company. Is your is like that ace
Speaker 1: and a hole Because if I see a property, I'm like,
Speaker 1: you know, hey, do a title search on this. I
Speaker 1: like it, But check this out for me. I got
Speaker 1: my man software, so I can go in and pay
Speaker 1: a couple of bucks and run a title search myself.
Speaker 1: When you do that, then you hit them up again
Speaker 1: and say, hey, I found this. Can you verify this
Speaker 1: from the boom over' good mother in law homes. This
Speaker 1: is becoming more prevalent, though I'm not sure where in
Speaker 1: the country y'all at. That's a thing called ADUs accessory
Speaker 1: dwelling units. They're becoming more prevalent, and zoning is allowing
Speaker 1: this more California big time. So adu's check Q zoning
Speaker 1: understand where this is at. Because if you can put
Speaker 1: an ADU on listen, I like the little houses. Let
Speaker 1: me get the house, let me get the lot. And
Speaker 1: especially if you know how to build on these lots.
Speaker 1: You know, like a fifty by one hundred lot is
Speaker 1: like a standards small lot. Write that down fifty x
Speaker 1: one hundred, fifty by one hundred a lot. You can
Speaker 1: build a two story situation. You're good. So if I'm
Speaker 1: looking at something that's got a little pie shaped lot,
Speaker 1: I can put something on the back. I'm gonna do
Speaker 1: it again another way to make investments. But these are
Speaker 1: the five things that can call you or the slides
Speaker 1: a way that you cannot get a mortgage. You don't
Speaker 1: want to get into these deals and not build to
Speaker 1: get a mortgage on it.
Speaker 3: An illegal alien from Guatemala charged with raping a child
Speaker 3: in Massachuset. An MS thirteen gang member from Al Salvador
Speaker 3: accused of murdering a Texas man of Venezuelan charged with
Speaker 3: filming and selling child pornography in Michigan. These are just
Speaker 3: some of the heinous migrant criminals caught because of President
Speaker 3: Donald J. Trump's leadership. I'm Christy nom the United States
Speaker 3: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 3: crossings are at the lowest levels ever recorded, and over
Speaker 3: one hundred thousand illegal aliens have been arrested. If you
Speaker 3: are here illegally, your next you will be fine nearly
Speaker 3: one thousand dollars a day, imprisoned and deported, you will
Speaker 3: never return. But if you register using our CBP home
Speaker 3: app and leave now, you could be allowed to return legally.
Speaker 3: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 3: border and families will be protected.
Speaker 1: Sponsored by the United States Department of Homeland Security,