great information, How can i derive to the interest rate to charge my clients? (1) Can there be a specif formula to arrive at that? (2) What simplified software/system can i use for proper book keeping? I'll be greatful for your response. thank you
1) You can charge what you want but probably around 13% and 3 points 2) Depends on the size of your business and portfolio. If full time and doing a least a few deals per month I think The Mortgage Office is best option and is what we use. Servicing, book keeping, etc..
Hands down best industry to know about and be in. I started doing Hard Money a few years ago and able to travel all over the place while still running my HM Business.
I'm noticing a lot of hard money lenders lending on Owner Occupied properties using "business purpose" to circumvent regulations. Do you know of lender whose had his a$$ handed to him for such? What's your cautious approach in not falling into that predicament with the borrower & his attorney claiming this type of circumvention violation?
Just started my hard money business and I am so happy I found this video, exactly what I needed to know in an easy and simple way to understand.
Glad it was helpful!
What happens when borrowers investor files bankruptcy .. how does one recover funds?
What happens when borrowers investor files bankruptcy .. how do one recover funds!
u sell their property!
What’s the difference of this and a debt fund
This is hands down the most informative video on this subject.
how do I begin credit reporting to my customers?
Hi, thanks for your revelation
Do you guys lend in Texas?
great information, How can i derive to the interest rate to charge my clients?
(1) Can there be a specif formula to arrive at that?
(2) What simplified software/system can i use for proper book keeping?
I'll be greatful for your response. thank you
1) You can charge what you want but probably around 13% and 3 points
2) Depends on the size of your business and portfolio. If full time and doing a least a few deals per month I think The Mortgage Office is best option and is what we use. Servicing, book keeping, etc..
great video and information!
very good content thank you
great video
i want to be a lending investor a as student my target is my classmate
Hands down best industry to know about and be in. I started doing Hard Money a few years ago and able to travel all over the place while still running my HM Business.
Can I reach out to you with some questions?
@@liveandletlive2894 yes of course. Always looking to get people involved with this business.
What happens when borrowers investor files bankruptcy .. how do one recover funds!
Hi good video man
I'm noticing a lot of hard money lenders lending on Owner Occupied properties using "business purpose" to circumvent regulations. Do you know of lender whose had his a$$ handed to him for such? What's your cautious approach in not falling into that predicament with the borrower & his attorney claiming this type of circumvention violation?
I have not heard of that but not recommended. Best to stick to true commercial lending to professional investors.
Wen golf J? 😉
Lets go! Anytime