By Gregg Cohen
Recently, we interviewed one of our top teammates on the JWB Real Estate Capital Team, Chad Emerson. Chad is one of our top mortgage brokers and is an absolute animal when it comes to actually closing investment loans in today's difficult lending environment. In this call, Chad lets you know what the current lending environment looks like and the do's and don'ts for getting your loans to the closing table today….sit back and have a listen:
Highlights of the call:
- Chad's outlook on the lending market over the next 2 years….will it loosen up eventually?
- What are the minimum requirements for investment properties loans? Credit scores? Down payment requirements? Reserves? Financed property limits? Debt-to-income ratio?
- Can you use rental income towards your debt-to-income ratio on your next investment loan?
- What are current interest rates on investment property loans and where are the rates going in the near future?
- Why you shouldn't put much weight in the appraisal during the loan process…
Many newer investors think that hard part about finding a good deal is getting it under contract, but unfortunately, that's just the beginning. The real tough part of the equation is getting your loan to go through, and you need a rockstar teammate like Chad Emerson to help you get to the closing table. Chad is a big part of our JWB Real Estate Capital Team and he is one of our top mortgage brokers that we use when our clients invest with us. A big thank you to Chad for all your insight and for helping our investors achieve their financial and time ownership goals through investing in cash-flowing properties!
Gregg Cohen is an owner of Progress Home Buyers, one of the country’s largest home buying and residential redevelopment companies. In the past 5 years, this team has bought and sold close to 250 deals and is on pace to complete 120 deals in 2011. The team speaks nationally to crowds of thousands of real estate investors with their mentors, Than Merrill & Paul Esajian of A&E “Flip This House,” have been featured multiple times in the Florida Times-Union and the Jacksonville Business Journal, and were also members of the Board of Directors for Jaxreia from 2009 – 2010. To receive 30 days of free real estate education from The Progress Home Buyers Team and their mentors, please visit www.provenprofits.com or call our office at (904) 677-6777.