OfflineCheck out this video featuring the owner of biggerpockets.com and Kevin Amosh, President of Pine Financial Group. I know and work with Kevin and can endorse him 100%. He only works locally and explains why and why you should work with local HMLs and how most national HMLs can't produce or stick you for more money right before closing.
They also talk about doing due diligence when hiring a HML. Where they get their funds and how ETC ETC.
Then they talk about the number one reason new investors fail when they try to buy and hold or fix and flip. NO CASH RESERVES!
http://pinefinancialblog.com/biggerpockets_interview/
Listen carefully!!
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
digging this thread up because have seen about 10 HML threads resurface and people saying "I thought it was a no money down method" WELL...will be depending on how you structure. But REALITY is it can be no money out of pocket but 'NET'.
Michael provided the great video a couple months back. It is more inline with current standards/requirements across the board. Yes, there are exceptions to the rule, but they are few and far between.
HM can be a great tool. Always keep in mind it's a short term strategy. A means to an end.
SOOOO if you need more flexible terms.... focus on PML instead of HML
just a thought....
Jen
but could not watch the video. I guess they've taken it down or blocked it. Am sorry I didn't find this thread earlier.
Those who kill time murder opportunity.
"Beloved, I wish above all things that thou mayest prosper and be in health, even as thy soul prospers." III John 2
"To get up each morning with the Resolve To Be Happy is to set our own conditions to the events of the day. To do this is to condition circumstances instead of being conditioned by them." Ralph Waldo Emerson
up
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Tried to watch the video and it says PRIVATE. Do I need to log into my biggerpockets.com account?
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
They have taken it down to the best of my knowledge. Might be able to find it on Bigger pockets. The discussion was with Kevin Amolsch of Pine Financial.
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site