- Investment Opportunities
- FREE Training Videos
- Mortgage Investing
- Video Series – Into To Hassle-Free Cashflow Investing Philosophy
- INTRO PART 1 – Intro To Hassle-Free Cashflow Investing
- INTRO PART 2 – Learning real estate investing vocabulary
- INTRO PART 3 – Get Higher Returns with Less Invested
- INTRO PART 4 – Getting From Where You Are To Where You Want to Be
- INTRO PART 5 – Taking The Hassle Out Of Your Real Estate Investing
- INTRO PART 6 – Formulas – Using Arbitrage To Increase ROI
- INTRO PART 7 – Understanding Leverage Ratio
- INTRO PART 8 – Calculating ROI Using Leverage Ratio And Arbitrage Spread
- INTRO PART 9 – Increasing Arbitrage Spread Magnifies ROI
- INTRO PART 10 – Property, Location, Team, Financing, and Expectations
- INTRO PART 11 – How To Make Money With Real Estate Investing
- INTRO Part 13 – Are Passive Investments in Real Estate Right for You?
- Video Series – Real Estate Math
- Lesson 1 – Calculating Return on Investment
- Lesson 2 – How and When to Use ROI (return on investment)
- Lesson 3: Calculating Gross Scheduled Income, Adjusted Gross Income, Net Operating Income
- Lesson 4: Calculating Operating Expenses
- Lesson 5: Calculating Capitalization Rate
- Lesson 6 – Calculating Interest Rate
- Video Series – Real Estate Investor Training Webinars
- Secrets of Self-Storage Investing
- Real Estate Collection Agency Secrets For Improving Your Real Estate Profits
- Chasing Infinite Returns with Real Estate Investor Financing
- How to Build Your FICO and Use It for Real Estate Profits
- Cash Management Strategies for Real Estate Investors
- Partnering for Profit
- Introduction to NNN Lease Commercial Real Estate Investing
- Cashflow Investing for Prosperity and Happiness
- Cashflow Investing Strategies for Recessionary and Inflationary Times
- Creating Your Life By Design
- Keys to Successful Property Management
- Tackling Success: From the NFL to Professional Investor With Professional Athlete Terrence Robinson
- Strategies for Protecting Your Income and Wealth from Rising Inflation
- Video Series – Tax / Accounting / Self-Directed IRA Investing
- A Real Estate Investor’s Comparison of IRA, ROTH IRA, and 401(k)
- Tax Planning Strategies For Cashflow Real Estate Investors
- Year End Tax Strategies for Business Owners and Real Estate Investors
- Using A Self-Directed IRA to Create Hassle-Free Cashflow
- The Ultimate Tax SmackDown Event: Solo(k) versus IRA
- Back to Basics Bookkeeping For Real Estate Investors and Business Owners
- Using A Self-Directed IRA When Your Income is High But Your Balance Is Low
- Taxmaggedon: tax strategies to Protect Yourself From Tomorrow’s Taxes!
- Creating Powerful Retirement Accounts for Business Owners & Real Estate Investors
- Falling in Love with Real Estate Bookkeeping
- Real Estate Investor Tax Deductions and Investing Strategies
- Why Do Hassle-Free Cashflow Investors Love Texas Real Estate
- Hassle-Free Cashflow Investing Secrets
- Hassle-Free Cashflow Lending Secrets
- How to Avoid UDFI Taxes When Investing in Real Estate with your IRA
- Eight Best Kept Secrets About Investing with your IRA
- A Guide to 1031 Exchanges
- Top 20 Things Every Business Owner Needs to Know
- Recordkeeping: Keep the Receipt or Lose the Deduction
- Managing Your Properties with QuickBooks
- Powerful Cash Management Strategies
- 17 Steps to a Successful Joint Venture
- Get a Fast Fifteen Points on Your Credit Report
- 12 Warning Signs You’re Headed For A Lawsuit With Your Partner
- choosing entity type
- 8 Steps to a Payment Agreement
- Negotiate Better Lender Terms
- Foreclosure Process
Hassle-Free Loan seems like an oxymoron doesn’t it?!?
If you have applied for a loan lately, a “hassle” would probably be the nicest thing you would say about the process. Everybody likes to blame the lender, and a fair amount of fault does belong to your lender. However, look at all of the regulatory agencies that oversee lending in real estate:
• Federal Communications Commission
• Federal Trade Commission
• Office of the Comptroller of the Currency
• Office of Thrift Supervision
• US Department of Housing and Urban Development
• Consumer Financial Protection Bureau
• State Agencies
The main problem I see with getting a hassle-free loan is that borrowers simply tell their banker the deal, email some tax returns in with a personal financial statement, and hope for the best.
Let me be very clear – this is the exact opposite of what you need to do.
If you want a Hassle-Free loan this is the process you need to follow.
1. Invest your time in the front-end of the deal so there are no surprises. Develop relationships with at least 3 different bankers that routinely make loans for investment properties. Find out what they are looking for and on what rates and terms.
2. Once you get a deal, write a quick letter (email format is fine) to the bankers talking about the quantitative and qualitative metrics of the deal.
3. Attach pro-forma financials of the deal to the letter along with your updated PFS and tax returns
In reality, by investing your time in the front-end to get a hassle-free loan you will waste significantly less time trying to shop your deal around to a bunch of bankers that don’t know you and as such are not inclined to work with you and approve your loan.
Another dose of reality, no matter how good of a deal you have, if you don’t stay in-touch with your banker(s) and tell them your goals and plans, you get lost in the weeds. I’m not going to go into the exact process a loan goes through to get approved but suffice it to say, most bankers have hundreds of loans to manage and pitch to senior bank officers for approval. If you don’t stay in-touch and don’t have your information organized in an easy format for your banker, this significantly minimizes your probability for hassle-free loan approval.
Jimmy Moncrief is a commercial loan officer, author, and a contributor to the Hassle-Free Cashflow Investing blog.