Tips on How to Getting Lenders Fast Approval

Author channel New Jersey Real Estate Investors Group   7 мес. назад
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REI Focus #27 : Common Mistakes Wholesalers Make (Part 1)

The wholesale of a property might sound easy. However, there are common real estate wholesale mistakes that are frequently made by wholesalers while preparing for a purchase, as well as before and after the wholesale process. Learn the Common Mistakes Wholesalers Make. "Glen Gallucci here from Peak Private Lending. I'd like to invite you to our tip of the week which involves some of the questions that wholesalers often ask us. So it's part of our quarter brought 20 common questions and mistakes that wholesalers make. Stick around. We're going to go over them today. Hi! Glenn Gallucci from Peak Private Lending with our tip of the week. Today we're going to discuss a couple of things about some of the common mistakes and questions that come from wholesalers. - One is only using realtors to locate properties. Many wholesalers just try to zero in on the realtors. And while that's okay there are other methods as well. But if you're going to use the realtors you need to show them how to do the search that's you know that you need to do. One of those ways is with MLS listings you can put in keywords to search like vacant, must sell, moving, divorced the boss, the handyman special, needs work, TLC, builder’s delight though knock down that all wall means that the properties in some sort of a distressed situation which could be a good deal for you wholesalers. Motivated seller that's always another keyword. - A lot of questions we get is how do I get them to see the house. Well a lot of times obviously you can see the outside of the house where you walk up or if you just can't get in. You might want to look in the windows and get a good idea on what the inside looks like. Then you may figure it needs a kitchen needs, a bathroom or two, things like that just to kind of come up with some sort of a rough estimate. Also if so you can get the realtor to get you in there that's even the best way to do. You could actually go in and see. say - What if I'm wrong on the rehab cost clause. You don't have to worry you just need to be close on the rehab cost and then we have clause for the wholesalers now. After multiple houses, after to seeing a lot of houses you'll get really good at coming up with a quick estimate. And we go over that don't on like our bus tours if you we go on our NJREIGroup site or we eyesight and come on our bus tours we cover call it that as well. - And lastly your investor will do the final rehab cost so you just need to get close. You going to tell them maybe its $50,000 - $60,000 or $70,000 or $80,000. They're going to go in and do the actual numbers but you just want to get close. So that's our tip of the week on some of the questions and mistakes that wholesalers make. To hear more about our tip of the week on some of these other issues check in with us and view our videos. Thank you. See you later. Become a Member of Our Real Estate Investing Community https://njrei.group/membership Be Part Of Our Real Estate Investing Community Learn More | Close More | Earn More Money https://www.NJREIGroup.org https://www.meetup.com/njreigroup https://www.facebook.com/NJREIGroup New Jersey Real Estate Investors Group Organizers Glen Gallucci http://www.peakpropertiesllc.com http://www.peakprivatelending.com Paul Kim https://www.segisgroup.com https://www.segisproperties.com

REI Focus # 28 : Common Mistakes Wholesalers Make (Part 2)

To wholesale of a property might sound easy. However, there are common real estate wholesale mistakes that are frequently made by wholesalers while preparing for a purchase, as well as before and after the wholesale process. Learn the Common Mistakes Wholesalers Make. In part 2 of this 2 part series, Glen Gallucci discusses common mistakes made by wholesalers. "Hi Glen Gallucci from Peak Private Lending. Here today we're going to give you the tip of the week which is a continuation of our last video on the 20 common mistakes and questions that wholesalers has asked. Stay tuned. We're going to cover them today. Hi Glen Gallucci from Peak Private Lending. Today's tip of the week some of the 20 common mistakes and questions that wholesalers make. One of them is taking advice from unqualified advisors. This is something that I see a lot of beginners do and it's really a mistake. You don't want to be taking advice on people who don't understand the real estate business. This includes lawyers, accountants, neighbors, friends, relatives. They Take the advice from investors who are actually doing this business everyday. Those are the individuals that you should be listening to. You can find them at the meet up meetings. NJREIGroup is our group which meets the first Tuesday of every month. We have a lot of seasoned investors, a lot of beginning investors, you can get great advice, we do presentations there. You may want to check that out. Worst enemy believe it or not is our family. We just get advice from them and they don't really know the business either. Loved ones are merely trying to protect you. No nobody wants to see you get hurt or lose money. But you know they'll say “well you can't buy houses for 50 cents or 60 cents on the dollar”. Yes you can. They don't and that's the problem. But if you listen to investors that do that you will find out exactly how they do that. The last thing is my spouse is afraid to take a risk. While he or she may not understand how everything works so ofcourse they may be fearful of it. Help them to become involved in the learning of the business. Speak with other investors, take them along to the meetings with you. They'll support you and they will help you. And that's what we do at our meetings. Husband and wife teams make great investor teams. We have a lot of husband and wife teams that we'd lend to. Lastly, taking financial advice from people that are making less money than you. You're Your out of work brother-in-law, rather than the person people are struggling to make a weekly paycheck. Free advice is almost worth exactly what it cost and that's nothing. So take advice from professional real estate investors and they will help you in this business. That's our tip of the week. See you next time. Become a Member of Our Real Estate Investing Community https://njrei.group/membership Be Part Of Our Real Estate Investing Community Learn More | Close More | Earn More Money https://www.NJREIGroup.org https://www.meetup.com/njreigroup https://www.facebook.com/NJREIGroup New Jersey Real Estate Investors Group Organizers Glen Gallucci http://www.peakpropertiesllc.com http://www.peakprivatelending.com Paul Kim https://www.segisgroup.com https://www.segisproperties.com

Core Components of Our Real Estate Community

Paul Kim discusses the 4 core components of our Real Estate Community. New Jersey Real Estate Investors Group | Learn More | Close More | Earn More https://www.njreigroup.org “Welcome to New Jersey Real Estate Investors Group. I want to thank you again for joining. In this video. I want to talk about four components of our community and what makes our community great. Core Component #1 : NJREIGroup.org Website The first one is our main website which is https://www.njreigroup.org. That's the core component of our community. That's where a lot of the education and resources are going to be. So I strongly recommend that you register as a basic member. If You haven't done so, go sign up now. If you're already registered, you're already halfway there. Core Component #2 : NJREIGroup Meetup Community The second component of our community is the Meetup. That's where we really get a lot of people that come. They browse around the Meetup site and they find us to meet up. Meetup is a platform that we post all of our events there because it's just a great tool and a great place where other people can find events and so we use the media website to post all of our events and all of our workshops as well as our webinars. I strongly recommend even though you may have to register on our main website, you will have to register with a separate log in on Meetup. https://www.meetup.com/njreigroup Core Component #3 : NJREIGroup Facebook Group Third core component of our community is our Facebook Group. Why do we have a Facebook group? Besides having our Facebook page (https://www.facebook.com/njreigroup), we also have a Facebook group. The reason for that is, so that people who have questions about certain aspect of real estate, can post online, on the Facebook group and other people, as well as myself, will interact and we'll give you those answers. https://njrei.group/facebookgroup Core Component #4 : NJREIGroup Monthly Meetups Lastly the fourth component of our community is our Physical Meetup which we do monthly as well as quarterly. They were starting out soon. This is where you come, you network, you rub shoulders with other like minded people. There are people that come regularly on a regular basis and I strongly recommend that you come and join us. https://www.meetup.com/NJREIGroup/events/ Now that I've discussed all of the Four Components, in the next four videos, I'm going to talk about each of them and how to navigate each of those resources, those components and how to best use them. I look forward to seeing you in the next couple of videos.“ Become a Member of Our Real Estate Investing Community https://njrei.group/membership Be Part Of Our Real Estate Investing Community Learn More | Close More | Earn More Money https://www.NJREIGroup.org https://www.meetup.com/njreigroup https://www.facebook.com/NJREIGroup New Jersey Real Estate Investors Group Organizers Glen Gallucci http://www.peakpropertiesllc.com http://www.peakprivatelending.com Paul Kim https://www.segisgroup.com https://www.segisproperties.com https://www.kmadison.com

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Getting a loan approval can be such a nerve-wracking wait-and-see game. There’s a lot at stake and not getting a loan approval could very well mean that the realization of a longtime real estate dream is facing a huge financial roadblock. Here are important steps you need to follow to ensure your loan can be approved without problems.

Hi Glen Gallucci here with Peak Properties. Today's killer tip of the week is going to be on how to get your deals approved quickly by your lender. Don't go away.

Hey we're back with the killer tip of the week on how to get your lender to prove your deals quickly. First thing is make sure you're very accurate on your after repair value. That's the ARV.

The tip number two is make sure you show them what the loan to value on the project is.

For the third tip is to make sure you have a good scope of work. A complete scope of work and better yet, a detailed scope of work. Looking to fund your deals and you need even a little help, you might want to come check us out at https://www.peakprivatelending.com/

My name is Glen Gallucci and we'll see you there.


Connect with us on the following social channels
Website http://www.NJREIGroup.org
Facebook http://www.facebook.com/NJREIGroup

New Jersey Real Estate Investors Group
Organizers

Glen Gallucci
http://www.peakpropertiesllc.com
http://www.peakprivatelending.com

Paul Kim
http://www.segisgroup.com
http://www.segisproperties.com

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