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Flipping Homes With The Correct Lender Feature Paul McAllister & Ryan Day
Manage episode 418829458 series 3574924
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In this conversation, Paul McAllister interviews Ryan Day from Calvert Mortgage. They discuss the unique products and services offered by Calvert Mortgage, specifically for real estate investors. Ryan highlights the benefits of their Flip product, which allows for low money down, no third-party appraisals, and quick closings. They also discuss the option to collateralize other properties for additional funding. Ryan emphasizes the importance of permits and the potential delays they can cause in a project. They also touch on the advantages of using a private lender, such as quick closings and flexibility in underwriting criteria. The conversation focused on the benefits of working with private lenders for real estate investment opportunities. The main themes discussed were quick closings, flexible financing options, reduced documentation, and product fit. Private lenders offer faster closing times and the ability to scale up investments with lower down payment options. They also provide a product that aligns with the needs of real estate investors, offering solutions rather than roadblocks. The conversation emphasized the importance of having a business plan, understanding lender requirements, and working with investor-focused professionals.
- (00:00) - Introduction and Background
- (05:42) - Using the Flip Analyzer Tool for Renovation Projects
- (23:15) - Building Relationships and Repeat Borrowers
- (27:09) - The Benefits of Private Lending
- (28:08) - The Benefits of Quick Closing
- (28:35) - Scaling Up with Lower Down Payments
- (29:02) - Reduced Documentation and Product Fit
- (30:27) - Private Lending vs. Traditional Lenders
- (34:36) - The Importance of a Business Plan
- (37:54) - Working with Investor-Focused Professionals
- (41:16) - Adding Value through Renovations
- (44:01) - Exploring Calvert Mortgage's Products
- (52:53) - The Importance of Education and Ongoing Support
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Takeaways
- Calvert Mortgage offers unique products and services for real estate investors, including their Flip product.
- The Flip product allows for low money down, no third-party appraisals, and quick closings.
- Calvert Mortgage can collateralize other properties to provide additional funding.
- Permits can be a potential delay in a project and should be carefully considered.
- Using a private lender, like Calvert Mortgage, can offer advantages such as quick closings and flexibility in underwriting criteria. Private lenders offer quick closings and flexible financing options, allowing investors to scale up their investments with lower down payment options.
- Reduced documentation and no appraisal requirements make the lending process faster and more efficient.
- Private lenders provide a product fit that aligns with the needs of real estate investors, offering solutions instead of roadblocks.
- Having a business plan and understanding lender requirements are crucial for success in real estate investing.
- Working with investor-focused professionals, such as mortgage brokers, can provide valuable insights and support for growing a real estate portfolio.
If you're looking to access the best financing for Real Estate Investors in Canada & the U.S.A., then I suggest you Book A Free Strategy Call with a specialist on my team.
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