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

Dean,

Great idea, Tina & I would Love to be part of your show. We were at the Edge Event 2012, and the energy & excitement there was awesome. We have learned so much since we joined the DG family. We are grateful for this opportunity we now have to change our life. We now have 4 properties rented out. We will do our assignment of calling the banks to locate no season refi, so we can double and triple..... our investments.

Thanks for all your Weekly Wisdom.

I would definitely go to Phoenix for that!

I would love to join you in AZ and meet you live.Thanks for all the education you share with me and the whole DG FAM.

I'd be so excited just to be in the audience. What an honor! I too am looking to get my first deal done and then I can say I truly deserve to be there! This site and your weekly blogs have come at a time in my life where I am in between taking care of mom, who's 91 next week, and my 27 year old son with Down Syndrome. He walks out to work everyday and says "mom, I'm gonna make a million dollars and we're gonna have a house". I'm committed! DeniseMom

This is Great stuff but in the Advanced trainning where would it be? Where can I go and get more details of banks and refi? Thanks

he makes it sound so eaasy and it really is, you just need to do it. or i need to do it... thanks dean you always bring us back to what we need to be doing and that is never give up \

awsome advice
Gog bless everyone
nick

I think the TV show will be a big hit. Count me in.

Thanks for the weekly goal and guidance.

Carl

once again dean you have the best advice and you give me confidence to do this.

Dean, thanks again for another great Wisdom. I think a TV show is a fabulous idea and I would most definitely come to Phoenix to be a part of it.

Hi Dean,

That was a wealth of information! Thanks! I will do the exercise. Next week, though, I will be very busy. I am at the end of one of my programs at school. I passed my 'B' practical exam, so I am now able to drive limousines, dump trucks (4,500 km), transit buses, ambulances, school buses, etc. I had to broaden my job search. I am getting closer and closer to be a full fledged student with the DG family. I am also closer to finishing my Advanced Computer courses. I have to do two more assignments of Dreamweaver 4, then do Dreamweaver 5 and 6, and then do 3 assignments each. I may finish before Christmas. I believe I will get a full time job by January, 2013. I was looking at the price of yellow board for bandit signs. It is a bit too much for me to purchase right now. Soon, I will be able to do so, and to build my team. Job hunting is more tiring than actually working, and is more taxing on the brain too.

Talk to you soon,
Annis

Hello Dean

I've been following your advice, recommomendations, books, online videos and everything you have presented for many years.

I have been in the process of purchasing my first home in OKC for this past year. I have a personal agent of sorts searching for a great deal for me as I live just outside of San Francisco myself.

I just returned from Oklahoma City 2 days ago after having spent 10 days there over the Thanksgiving holidays.

* NOTE: I would love to be a guest of your TV Show and am able to travel there whatever your schedule requires.

It would be a great opportunity for me to meet similar people and gain more knowledge at the same time.

Please keep me in mind.

Cheers

Will Roach

Fantastic video - I'm a week late in watching - almost never happens to me.
Would I be on your show - are you kidding? You know I would!
Would I be an expert contributor - absolutely - should you need me, I am there.
This education on the no season refis is worth a million zillion. I threw in the hat in Cleveland; I'm picking it back up. I will not be denied!

Thanks Dean for sharing your knowledge with us in a simple and easy method to implement. I am in Canada so the banks are different but I will be workng in the States and need to understand the difference. A TV show would be great, your energy and talent would keep people tuned in! The studio will need to be large to hold all of us.

Hi there fyi I use to be Cali Tony but got blocked due to the spammers & I thought you couldnt do anything about it when I called 6 mo's ago they said just create a new user id so here I am but I will call again. How is your step dad? Hope he is ok for me my wife went to Mexico long term so it has been gut wrenching to say the least but just now am sucking it up & want to say I WOULD LOVE TO GO TO THE SHOW, I'll fly over there for sure just let me know when where. Still working on 1st deal have all the tools now just have to sweat wrkng that is. always a pleasure seeing/listening to you and look forward to meeting you at the IE meet nxt yr, God bless.

On TV with you, Heck yea.
Love the Idea

Very Informative, Have you considered working with someone that can guide us as to the best way to secure our proerties. I've heard an LLC is the best way.

Please Assist..

Hi Dean,
I would love to be on your TV show...Your right...I went to a bank that knew my history and I had really bad credit...He happen to be the president of the bank...I did get a loan and then I went over to Wells Fargo and they turned me down...

Thank you Dean for being you....

Debora

I will use the example Dean used in his video blog. This is how I am understanding the explanation and I want to make sure it is correct.

You buy the house for 50k. Then, you put 25k in rehab into the house. This puts you in at 75k. You lease the house at $1,000 per month. You get an appraisal on the home and it comes in at 100k. The bank refinances for 80% loan to value, so 80k, for 30 years at 5% fixed so between 400 to 500 payments per month. This will show you are cash flowing the leftover of the $1,000 you receive in rent for this property. So, you get your 75k back that you put into the home, plus 5k. So, then you use this money to go buy another house, rehab it, rent it, and refinance all over again.

Is that correct? I may be over thinking the whole process. If this is not correct please explain.

Thanks

Excellent instruction. I have used private investors, small bank's HELOC, and the big banks too. Big banks limited me to four...gee thanks but no thanks to that line again. I think I would rather see the little guy get the interest. 5% is an excellent return on investment for the private investor.

After a few days of making calls, my wife and I found a credit union in our area that was willing to offer us commercial FMV loans. We met with the commercial lending department last night and now we're ready to start looking for buy & holds. Thanks Dean!!

Paul

I like the TV show idea.

Hi Dean,

This sounds very promising. I think I'll do just that. We do not have too many small banks in Canada. Most places have at least three of the five major bank branches. It doesn't hurt to try, though. I certainly will do that! In the meantime, I am also job hunting for a job with a transit system or a the school bus company. I have an aptitude test on Monday. I have to attend my son's play Tuesday - midday. He has the leading role in a French play. He is in French Immersion. I completely forgot. I will look again at the times of your live broadcast. I may not be able to tune in if it is at the same time as my son's play. Good idea about the show like Oprah or Dr. Phil. Will we be flying in for free to be part of your audience? If so, I would love to be a part of the audience.

Talk to you soon,
Annis

I would love to participate in the audience! I can be there anytime! I think it would be encouraging and motivating.

If I could get the money I would really Love to go to your talk show. I am only getting started as soon as the bank clears my check so I can call PMI

I wrote down the questions to interview the banks and I am going to make a questionnaire and write down all the answers each bank gives me. And put int into a book.

Again I really need to find a way to get a android cell phone with At&t because of my parents and pay for unlimited everything so I never miss anything again. You have too much to offer and I do not want to miss anything,

Dean,

A live tv show would be totally awesome!!!
Not a big deal at all to travel out there
for it either...
Personally, I'd LOVE to be part
of it & I bet that would be tons of fun
anyway to meet you and also to network
with the other students who are on board
with the things you're teaching about REI.

& thanks for outlining the bank/credit union
strategy for getting in touch and finding
who is (and isn't) doing loans based on FMV
- great content!! [peace]

More great info. Thanks Sam.

Great info Thanks Sam.

Great Weekly Wisdom Dean Thanks Sam

Great Weekly Wisdom Dean Thanks Sam

Thank you Dean!

I like to and try to watch a few of your weekly wisdoms in a day.

Your the best in the real estate game!
You don't find Donald Trump taking his time to help people unless you pay boo koo bucks.

I really appreciate your valuable time.