Dean Graziosi Weekly Wisdom #211 - How to Get a FMV Loan

Thank you Dean for the great information this week.Just wanted to let you know that something you did on the site clean up made it where i didn't have to wait ten minutes for your video to load before i could watch it. It played all the way through without delay. Thank you for your dedication,and hard work for all of us here in the DG Family.

I'll be up there on stage with you Dean. I will tell everyone about my first deal that I did that made me almost 20k. And I started just like everyone else did, by seeing your Saturday morning TV infomercial, buying the products, spending the money for the education by Selling a 2008 Tahoe so I could participate and learn the strategies. Hardest thing I've ever done, because that was my wifes vehicle. Luckily she believed in me, because even I had my doubts.

So I did a flip deal and made a grip of cash. I have one income producing property so far and right now as I type I'm working on 4-5 more income producing properties that I'm putting under contract to buy. I'm going to come to your Summit in Vegas in December again since I live in Vegas. Look forward to seeing you again.

Eric

It does sound excititng, I probably wudnt go but I sure as heck wud watch. I want more Matt Larson and Carol Stinson and some of ur other students making big buks on the show. I want testomonials and methods. Do it.

I say "ditto" and I like the way Jen thinks. It seems very likely to me that Jen could wind up right there with you and Matt with her own office. That would be spectacular. I have to be real careful about not idolizing you Dean and the fact is that you are an amazing individual. On top of that you just gave more reason for me to find a way to dump my poverty mindset. I am looking forward to more instruction, training and online tele-conference. Great info on finding banks and it would be good to have a little more input on response scripting when the banks grab on to my ?'s and start selling me on their services. Anything not to say or how much info is too much and any other possible things that are likely to come up. Have a great day and thanks for another very enlightening weekly wisdom.

Of course each of us wants to succeed, but a free invite to be with you and the DG community would be a great incentive for the beginners among us to complete our first deal before the TV show so that we can afford transportation and lodging. So, yes on TV, but please don't make it too soon. Make it for at least 2 months from now (if it is a one time show).

Like the idea of top students having own space on forum.

Thanks Dean. I appreciate you.

A live TV show is a wonderful idea. I would come.

I was just about to work on finding banks when I saw this. This will make it 1000 time easier. Thanks a million!!!!
I would absolutely be there for a TV show!!!
Count me in. Thanks

Hi Dean,
My sister and I would love to be in the audience for your live tv show. The energy would be amazing. Also, thank you for taking the time each week to share with us your success strategies for real estate investing. We have not given up.

Hey Dean,

Again thanks and I would Love to be on stage with you and in the crowed. I would for sure fly in and be on.

Hi Dean and DG Fam

This has been one of the best weekly wisdom. When I first started investing I had a bank that was giving me 75% FMV Loan and just when I bought the first house the bank changed there policies. I gotta get back on the phone calling these banks, Thank you Dean, Perfect Timing!!..

DG Fam if you can't find a bank that says yes to all the question you can use a private lender for a short time until you complete the seasoning inorder to refi with a bank

Yes do the TV Show, It motivates and inspire people so much more, I know it does for me.

Dear Dean,

I think you should follow your Dream regarding a Sit Down
Talk Show..I know you would be very Good at it..I would also like to come down on be on the Show are you Kidding me. We your Website Family will support you the same as you are helping us to reach our goals.. thank you for Lesson #211 I am going to work on that for sure ..You are
such a great guy!!

the banks wisdom was awesome
love the tv show idea

Great idea! We would LOVE to participate in your TV show. It would be a blast! We love your inspiration and the whole DG family website! We never thought buying real estate like this was possible and thanks to your education, we are doing it!!!!Go Dean!!!!!
Mark & Mary

As much as I want to be an Insider Elite member, I at least know that I can still learn from you on these weekly wisdoms.
Your ideas as always are great. The TV show will be fantastic. I would really love to be in that audience. If I can get a few sales by then, I'll be able to make it. So now I have more insentive to sell a house.
Thank you so much for all you do for the DG Family. I'm proud to be a member!

Hi Dean,
Love the TV show idea- would love to come to AZ- I think it would be a blast and I am sure it would be a success! As far as the banks go, all 11 of our rentals were bought that way: buy, rehab, rent and refinance. The refinance was anywhere from 70-80% of FMV, all within 2-3 weeks. We used our heloc to do it and paid heloc off each time and then did it again. It is a great way to keep purchasing properties. Thanks for the refresher information- really appreciate it!!!
Linda

If I can make it I would be honored and look forward in going to one of your show.

Dean, that is a great idea.. I would love to fly out to Arizona and be part of the excitement in a live audience.. I think it would be an awesome experience. I am in..
Thanks again, for the great tips for bank strategy. I will take your advice and run with it..
See you in Arizona...

Steve Scotch

I would like to go to your show if you can give us a few months in advance. It would be and honor and blessing to attend a show with you and DG family.

I think that your TV show interview sounds like a great idea. Let me know if you need me to fill a seat in the audience. I'm sure it will be standing room only once the word gets out!

I would love to be in the audience at your next TV Show. Please select me!

GREAT!!!!
I GREATLY APPRECIATE ALL GOOD WILL AND GREAT EFFORTS AND REACHING OUT . . . .

************
**
HOW CAN WE MAKE SURE THAT WE ARE DOING WHAT IS BEST FOR COMMUNITIES AND RE INVEST IN THEM AS WE ARE MAKING PROFIT?
PERHAPS GIVE SOME LAND BACK AS A PARK, PLAYGROUND, GARDEN,
OR EVEN SOME MONEY FOR ARTS/CULTURAL PROJECTS . . .
**
******************

PLEASE INCLUDE FURTHER THOUGHTS, SUGGESTIONS AND ENCOURAGEMENT ALONG THESE LINES IN FUTURE VIDEOS . . . .

ALSO,
PERHAPS REMIND/OFFER/ENCOURAGE/INSPIRE US ALL TO CONTINUE TO
GET:
GREAT FOODS,
GREAT PHYSICAL EXERCISE
GREAT INSPIRATIONAL MATERIAL
GREAT REFLECTIVE AND INSPIRATIONAL TIME
AND GREAT QUALITY TIME WITH FRIENDS, FAMILY, LOVED ONES AND FELLOW HUMAN BEINGS

GREAT!!
THANKS AS ALWAYS!!!
TAKE GREAT CARE!!!!!

Dean! Go for it! It's a great idea! Better yet, it's a phenomenal idea! I don't think too many other real estate professionals have the credibility and authenticity to take this on like you can!

Thanks Dean for all your help; I just received the warranty deed for my first property, overwhelmed but happy that I really did this. Knowing about the FMV loan will help with the next steps to this ongoing adventure.

Excellent advice from Dean on this video. Thank you.
I'm confused on one bit though.
I'll illustrate with Dean's numbers:
Say I buy a property with hard money: $75k loan. FMV is $100k. I pay $50k purchase and $25k rehab. All fixed up the property can rent for $1400/month. Here is my confusion:
I get an 80% LTV, 5/1 ARM commercial loan from a 1-month season bank at 5% interest. The principle and interest on that loan comes to $1,509/month. That is negative cashflow rent of -$109/month. And that is before taxes and insurance.
I don't see how money can be made here. I must be missing something. Can someone please explain?

Kind regards.
Caz

You get a 5 year arm means the rate is locked at 5% for that amount of time then goes variable, but the loan is amortized 20 or 30 years..

20 years would be a $494 payment
30 year would make your payment $402 per month

Make sense now?

Dean

Dean - Ah ha! That makes much more sense. You just made my week with that clarification. I now see the profitablility of $466 on this particular property, which is a wonderful 50% ROI on a 20-year term 5/1 ARM; a no-brainer pursuit. The hunt is on again!
I misunderstood the 5/1 ARM to mean 5 years * 12 Months = 60 months payback term. Thanks much for your priceless advice and generous guidance, Dean. I watched your weekly wisdom video #211 at least 5 times (from the mid-section) because it was so rich with powerful, useful, and encouraging information!
Lord Jesus Christ bless you, your family, and your work, Dean.
Take care!

I would come out to be on your show!! How exciting would it be to be around a bunch of DG family. Energy would be through the roof!! Thank you for the bank tips.

Great questions to ask a bank. Even when just wholesaling, like you said, it's great for your end-buyer to have a bank where they can pull their money back out, and come back to you for more wholesale deals.

Pat

All I can say is what an awesome blog. Would love to fly out if I could.

Thank you so much for advice on obtaining FMV loans. Awesome!