So I reached out to someone who plans on doing fix and flips in the future. I sent him our funding rates for EMD and Stack/Morby. Then he sent me the text follow up text that I feared I would get… he asked specific questions that I didn’t have the answers to. Here’s what he sent me: “What is the time period you are looking for? Is what you gave me just for the earnest money? What I’m mainly looking for is fix&flips: how much of purchase&rehab do you lend, what rate, what are the fees?” I don’t know how to reply to him with an educated answer… Other than he would need to speak to “my partners“ or I need to check with “my partners “. He doesn’t have a specific property yet he is just trying to be prepared for when he does have one… So that he knows where to go for funding. He has worked alongside his father-in-law on over 30 fix and flips and is now venturing out on his own. Please help! 🙏

Is this too much?!

I really love the step by step course. This is the detail I live for! I am happy to see essentially a checklist or SOP spelled out. I do have a couple questions or something to clarify. Is Echo funding specific to just Double Closes or can it be done with an assignable wholesale contract as well? Would really love a story drawn out about Echo. It’s the newest type of funding to me and seeing how the numbers change around to help a buyers down payment. Maybe I don’t see the full visual of HOW the money circulates.

Hello team! Do we have a DSCR lender that we use for stack method or does the borrower need to have a DSCR lender in mind already?

Just here to say that having the two versions of mutual release documents is very awesome and clever, never heard of this before but that COE OE version is really smart. I like it.