Don’t Wait Any Longer.
Let us help you have your dream home.
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We require that all borrowers provide several documents beginning our underwriting. We ask for the following:
Purchase Agreement
Comprehensive Market Analysis
Property Comparable
Scope of Work
First Lien Term Sheet
Moreover, all of these documents will be found in the google files that we supply for due diligence. From here, we review the comps and make sure that we believe the ARV that has been presented is supported.
Furthermore, we then plug all the numbers into our calculator and spreadsheet to see what percent profit margin the project will have.
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Who is this for? People who don’t qualify for a traditional bank loan, have a down payment, are tired of renting, and want to own their own home.
Who is this NOT for? People that can obtain traditional bank financing (we encourage you try this first), individuals with zero down payment. or individuals who need to move in less than 30 days.
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We consider things such as days in the market.
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If this is a new borrower that we have not previously worked with, beforehand, we do gather information on prior rehab projects and their experience, As of December 27, 2023 all borrowers will complete a background check prior to working with them.
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In any process there is a starting point, and in ours it’s the Prequalification.
This allows us to gather some basic information so that we can estimate what your approval terms will be. It’s imperative that this conversation is transparent from everyone so that we know whether or not this would be a good fit.
Pre-Approval typically comes after the above and serves as the next step towards getting your new home.
This is also where numbers become official and you are free to home shop with a realtor!
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Let us know right away. We are likely already scheduling a zoom call with the borrower and we want you to meet the project operator so that you can get a better understanding of the individual’s experience and the details of the project.
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We will send out a Letter of Intent for both the lender and the borrower to review and sign. There is a $100 fee to both parties. This fee acts as a commitment for both parties to move forward and at that time, our Transaction Coordinator will take over and supply all of the paperwork needed to secure the loan. This typically includes:
Operating Agreement
LLC and JV Agreement
Promissory Note
Mortgage Deed & JV Agreement
Additional documents (available as needed)
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Completing our $50 application is a huge and necessary step towards getting a home with our program. If you do this we know you’re serious.
Once submitted, the underwriting process works to approve you while you collaborate with a team member to select a home.
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Five things we look at:
Do you have a sizable down payment?
Can you afford the home?
What is your past rental/criminal history
Where is the property located
Credit score (less important)
We approve 95% of applicants.
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You’ve completed the application and have your approval terms.
Congratulations! Now we’re ready to begin placing offers on homes for you. At this point, you should begin getting funds together if necessary for your down payment and determining which properties stand out most.
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Any down payment or deposit you put down on the home goes towards the final purchase of the home. All the money is applied to the agreed upon sale price of the home.
There is the rare situation in the event you no longer wish to purchase the home, your deposit is forfeited. The deposit is a key piece in being able to successfully own a home.
We also stand buy our guarantee that we will not keep any deposit unless you get a home.
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Yes. An inspection is the safest way to ensure you will be protected and understand exactly what kind of home you are buying.
Similar to a regular bank financed property and purchase agreement, an inspection is a choice but is always recommended.
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We have been actively networking with other real estate investors for quite some time. We have projects coming in from a number of sources.
We have developed relationships from Hard Money Lenders, Brokers and several to these are referred their clients to us.
We have met investors through Subto and other real estate networks and mentorships.
We have had a large number of projects come to us through word of mouth.
Also, coming from repeat clients.
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