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