OK, I Am Ready For The BIG BUCKS (maybe)
Hi to all in real estate land....
As some of you know, I am a mortgage broker and help people with financing. I have seen how much can be made on these transactions and I want to try myself. I am conservative by nature (unfortunately) so I shy away from "out there" scenarios...but that is where the big bucks are!
OK, where would one start in this type of arrangement?? I can obviously do my own financing. I just need to get my feet wet and then go crazy after that. I have about 10K to work with (I know...peanuts) but that is all I am willing to invest at this point.
Ideas? Comments? Admonitions?
Thanks 
I am also willing to partner with someone as well...I am in the Dallas area.
Wow! If I had $10k sitting around I could take over the world!
But really, save yourself some time and aggrevation and get John Locke's book. I just got mine and I love it already.
Hold on to your big money until you need it and just spend the $150 now!
Ryno
If you are infact a mortgage broker and a good one, then you would surely know of the "creative ways" to obtain property with very little down or almost nothing.
If you are not sure how, contact me and we can discuss it. I too am a broker.
I am willing to help. If I had a grand I could buy several properties even with my bad credit. I have a $30,000 condo deal that is worth $50,000 with a few thousand in carpet, tile and paint. All I need is earnest money, appraisal fee and a loan. I can get hard money at 14% but looking for better deal. Maybe we can help each other. If you can not help me i will still try to help you any way I can
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr
I myself am a mortgage broker. It was my belief that you cannot obtain funding for your own deals? Would be a confilict of interest no? Do you guys have some way around this im not seeing (besides submitting loan package though partner) Please PM me.
Dave
Quote:
On 2003-12-02 09:55, dgtop wrote:
I myself am a mortgage broker. It was my belief that you cannot obtain funding for your own deals?
Talk to your AE's some will allow you to submitt your own loans. You will have to let them know that your in the business and you can not profit from them.
Quote:
On 2003-12-02 09:55, dgtop wrote:
I myself am a mortgage broker. It was my belief that you cannot obtain funding for your own deals? Would be a confilict of interest no? Do you guys have some way around this im not seeing (besides submitting loan package though partner) Please PM me.
I recently did my own loan for a house I own in Michigan. I went through Flagstar for this one. No problem. You do need to disclose who you are tho.
Dave
I did my own loan. The A/E said I could not, but I asked the underwriter and they it was okay.