Hey, I think you’re great. I love your explanations in the way you present the information and speak a lot about your character and I think you’re amazing a lot of these channels that I watch I feel like they are really just there for you know U2 and it’s not really Risk resourceful information, but you’re amazing. I feel like you are the guy that everybody should be listening to you because I feel like you are actually helping people and I thank you.
@@bmodllc man am I glad you asked! I so have been meaning to come back with an update! So the consult was great it all sounded like exactly what my husband and I were needing in order to expand our real estate portfolio. We got as far as getting a 215k pre approval. With the understanding that we needed to have the 43k which is 20% of the loan at closing! Ok we got that! So, we used the pre approval. Made an offer on a home. Got accepted! So we send in the contract to move forward with loan! Less than 48 hours they send back a Good Faith Estimate and it had us owing 14k in Estimated Settlement Charges! Which was ofcouse due at the time of closing and this is on top of the 20% we KNEW we needed in order to close. The settlement charges were additional fees …. buying the 6.5% interest rate Credit repot, appraisal fee, tx attorney fee, Daily Interest fee, initial deposit for escrow account, hazard insurance fee. And a $4,900 origination charge! So they charge 4,900 for them getting the loan for us! Now this will be the 4th home we have purchased. So we knew this wasn’t going to be a normal loan. But we were not briefed on this in the beginning. Because if so we NEVER would have taken a hard hit on our credit report. Because this isn’t at all feasible for us! Maybe it is for others! But for us no way! The main thing that attracted to the DSCR option was that we could close in our LLC’s name! So back to the drawing board we go. I should write a disclaimer! This was just our experience and it all been within the last 7 days. Hope it helps!
These are called No Doc(ument) loans. When I got one back in 2007 they were business loans, not usable for standard mortgage loans; I had to be referred to a banker to get it, you couldn't just walk in and get one (running a legal scam, had to pay for the reference from another financial investment company); your credit score has to be at the top limit, not good, not great, it has to be perfect. But if you can get to that point it only takes about 15 minutes and they write you a big a$$ check then and there, no docs, no proof of income. All this could have changed though.
Thank you! I am closing on my new primary residence in a few weeks and will be taking my proceeds to purchase a property for investment. I’ve been struggling to find the answers and was concerned about the DTI.
Awesome info Kai. Exactly at the step I am at. There's not a lot of content out there for people with 3-5 properties. Interested to see if i can find something like this as a Canadian. Trying to refi with my bank is such a pain as they refuse to acknowledge short term rental income.
Hello Kai, love the video! I was wondering, what knowledge or education do you recommend applicants to your landhacker and 6 figure host programs have to get the most out of the classes?
Hey there, glad you enjoyed the video! Honestly, it's not so much about education, but more about mindset and commitment. I've had high school dropouts do just as well, or better than, students/clients who have advanced degrees. However, growth and learner mindset is a definite must and commitment to learning, experimenting and executing is a 100% must as well. I hope that helps. :)
Wondering how the rates compare to traditional. For someone who’s not got any debt yet, if I can make a bunch of income and show it, by doing fix and flips (using hard money loans), then I should become a strong contender for the banks for a land buy+build loan, right? Would you advise going that direction as far as it can go first, or just start off straight using this new-gen finance? I mean, is the new-gen stuff just basically all-around superior if you’re a good fit for it, or do they maybe offer just not quite as competitive rates due to it being a more specialized service, so the old is still more competitive financially if you’re still within the banks’ bounds of acceptability?
He (kai) had.cosigners and investors. that's what he just said. U watching this do not. So Kai doesn’t know what it's like to do it on his own. Clown show lol.
Lol. Go to another channel and troll. I've done both. Small minds thinking you have to everything on your own. Super secret: 8 and 9 figure deals use investors and co-signers too. Most millionaires and billionaires also use OTM. Do it on my own? Of course, I use help and support when needed. Curious to see all your solo achievements. Go get em, Champ.
@@KaiAndrew I had had to! Hey, you're welcome, got you up to 5,367 views... Win, lose, lose win, ying yang chitty chitty bang bang. You have good content, just simply saying that the thumbnails are a bit extra, unnecessary & past due. You're good enough to not fall into that BS. I'm sure your audience would appreciate it, & take it a bit more seriously rather than feeling baited, or simply skipping the video in general, but hey do you're thaaang. I respect the hustle
Need to add a tax professional to your team? Work with mine. Setup a free consultation here: calendly.com/accountabilityinc/kai-andrew
Hey, I think you’re great. I love your explanations in the way you present the information and speak a lot about your character and I think you’re amazing a lot of these channels that I watch I feel like they are really just there for you know U2 and it’s not really Risk resourceful information, but you’re amazing. I feel like you are the guy that everybody should be listening to you because I feel like you are actually helping people and I thank you.
Just wrote one and closed it. It is all about the rent comp and operating income statement that accompanies the appraisal.
Nice! Thanks for sharing. :)
good luck! What percentage of cash reserves did they want to see
You just gave me the exact answer I needed for buying my first 2 houses. Thanks!
Great info! I have already done my consultation with one of his Loan officers! Thank you!!
Hi @amber Williams.
Did you get a loan with this lender? If yes. Can you please share 🙏🏿
@@bmodllc man am I glad you asked! I so have been meaning to come back with an update!
So the consult was great it all sounded like exactly what my husband and I were needing in order to expand our real estate portfolio.
We got as far as getting a 215k pre approval. With the understanding that we needed to have the 43k which is 20% of the loan at closing!
Ok we got that!
So, we used the pre approval.
Made an offer on a home.
Got accepted!
So we send in the contract to move forward with loan! Less than 48 hours they send back a Good Faith Estimate and it had us owing 14k in Estimated Settlement Charges! Which was ofcouse due at the time of closing and this is on top of the 20% we KNEW we needed in order to close.
The settlement charges were additional fees …. buying the 6.5% interest rate
Credit repot,
appraisal fee,
tx attorney fee,
Daily Interest fee,
initial deposit for escrow account,
hazard insurance fee.
And a $4,900 origination charge! So they charge 4,900 for them getting the loan for us!
Now this will be the 4th home we have purchased. So we knew this wasn’t going to be a normal loan. But we were not briefed on this in the beginning. Because if so we NEVER would have taken a hard hit on our credit report. Because this isn’t at all feasible for us!
Maybe it is for others! But for us no way!
The main thing that attracted to the DSCR
option was that we could close in our LLC’s name! So back to the drawing board we go.
I should write a disclaimer! This was just our experience and it all been within the last 7 days. Hope it helps!
I am excited to learn more about this, sounds like a great product for us!
It really is!
These are called No Doc(ument) loans. When I got one back in 2007 they were business loans, not usable for standard mortgage loans; I had to be referred to a banker to get it, you couldn't just walk in and get one (running a legal scam, had to pay for the reference from another financial investment company); your credit score has to be at the top limit, not good, not great, it has to be perfect. But if you can get to that point it only takes about 15 minutes and they write you a big a$$ check then and there, no docs, no proof of income. All this could have changed though.
Wow, this is awesome information. Thank you so much! This is exactly the product I have been looking for.
Thank you! I am closing on my new primary residence in a few weeks and will be taking my proceeds to purchase a property for investment. I’ve been struggling to find the answers and was concerned about the DTI.
Wonderful! Best of luck :)
Amazing share kAi! Thanks bruh
My pleasure!!
Awesome info Kai. Exactly at the step I am at. There's not a lot of content out there for people with 3-5 properties. Interested to see if i can find something like this as a Canadian. Trying to refi with my bank is such a pain as they refuse to acknowledge short term rental income.
Yeah, we have the same issues here. These new types of loan still discount STR income by 25%, but better than nothing.
Hi there. I am also a Canadian with similar concerns. Did you manage to find a refinancing option?
Income and credit scores are irrelevant since we are the original creditors!
Kai, can you share the info of the loan agent who can help get loans based on property equity?
New @kai drop 😈!
EMUN!!! :)
Hello Kai, love the video!
I was wondering, what knowledge or education do you recommend applicants to your landhacker and 6 figure host programs have to get the most out of the classes?
Hey there, glad you enjoyed the video! Honestly, it's not so much about education, but more about mindset and commitment. I've had high school dropouts do just as well, or better than, students/clients who have advanced degrees. However, growth and learner mindset is a definite must and commitment to learning, experimenting and executing is a 100% must as well. I hope that helps. :)
@@KaiAndrew That does help! Thank you for your answer.
Wondering how the rates compare to traditional. For someone who’s not got any debt yet, if I can make a bunch of income and show it, by doing fix and flips (using hard money loans), then I should become a strong contender for the banks for a land buy+build loan, right? Would you advise going that direction as far as it can go first, or just start off straight using this new-gen finance? I mean, is the new-gen stuff just basically all-around superior if you’re a good fit for it, or do they maybe offer just not quite as competitive rates due to it being a more specialized service, so the old is still more competitive financially if you’re still within the banks’ bounds of acceptability?
Great video Kai! How do we contact Christian for more info?
This might help me out a lot.ive been taping into my reserves because the main banks suck..will definitely try them out.thanks kai!!
Any time! Good luck, Vicky! :)
This is insane! Definitely gonna be reaching out to Christian soon
Yeah, he's awesome. Let me know how it goes.
how much cash reserve you do need when purchasing $3M property using DSCR?
This could age real well the next couple months with these massive rate hikes and worsening economy
Will this work for landlords trying to build a rental portfolio
I got a paystub from Cyber Credible because the loan officer wanted a proof of income before getting the car
Hm, never heard of them.
Awesome content!
Why would a 30 year fixed or 40 or 50 better you’re paying that many more years in interest therefore it’s calculated over the overall Amortization
You're able to grow cash flows at a higher rate than your interest rate on the loan.
Is this still legit? I don't see the link for this mortgate service.
thanks for sharing such great,,,
My pleasure
Amazing content
Any ETA on that land hack program?
Hey Stephen! Literally working on it everyday to launch soon. Just buttoning up a few things. I'm hoping in the next 2 weeks.
Awesome!
Thank you! Cheers!
We’re can we get access to this product thanks
In my description there's an email to my guy.
@@KaiAndrew has it been removed? I don't see it in the description
THANK YOU!!! UBERRRRR HELPFUL AND CLEAR! =) 🤞
Cyber Credible legit tbh
CN I get Christian info plz lol
He (kai) had.cosigners and investors. that's what he just said. U watching this do not. So Kai doesn’t know what it's like to do it on his own. Clown show lol.
Lol. Go to another channel and troll. I've done both. Small minds thinking you have to everything on your own. Super secret: 8 and 9 figure deals use investors and co-signers too. Most millionaires and billionaires also use OTM. Do it on my own? Of course, I use help and support when needed. Curious to see all your solo achievements. Go get em, Champ.
You’re not 19 anymore quit with cringy thumbnails…
Got you to click...lol.
@@KaiAndrew I had had to! Hey, you're welcome, got you up to 5,367 views... Win, lose, lose win, ying yang chitty chitty bang bang. You have good content, just simply saying that the thumbnails are a bit extra, unnecessary & past due. You're good enough to not fall into that BS. I'm sure your audience would appreciate it, & take it a bit more seriously rather than feeling baited, or simply skipping the video in general, but hey do you're thaaang. I respect the hustle
Kai are you single