Hi! It’s Lou Brown. I’m back with another of my 101 cash flow accelerators helping you to build an amazing real estate business. And one of the things I’ve learned over the years is that different mortgage brokers have different lenders. And many times if my client is getting their own mortgage broker or lender, they might be turned down for the loan and that cuts me out of a sale. Well, I’ve discovered that if I go ahead and put in my agreement that, that seller has the right to substitute a lender for the buyer if they’re turned down for the loan, then I could even substitute myself as the lender if they were turned down.
You know, sometimes guidelines, they honestly, over the years, I’m over 40 years in the business of buying, selling and holding property and guidelines fluctuate. They go up and down, they contract, they constrict, they expand and it’s something that you need to be aware of that all mortgage brokers are not created equally. And all lenders are not created equally. They have different markets that they sell their loans. And so, I have access to a great thing, we can call it our Mortgage Wiz. And our Mortgage Wiz is in touch with a lot of lenders that others are not in touch with. And also remember that you can substitute yourself as the lender. Perhaps there needs to be a period of time. Perhaps there’s a credit blemish. And it would take only 6 to 12 may be up to 24 months to get their credit straightened out so that they could get a traditional loan. Well, I’m happy to substitute myself, particularly when I can save a lot of the costs to sell in a transaction.
So hopefully that’s a benefit to you. Have the right to substitute a lender if they are turned down for a loan. Or alternatively, as I say, offer a lender upfront that they should work with. And that would be our Mortgage Wiz. Hopefully, this is helpful to you. I want to help you build an amazing business. Check us out. StreetSmartInvestor.com. Yeah, baby!
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