“Here’s the property address, what rates am I looking at?” ​ Big accusation, but real. ​ In my first year brokering, after closing 40+ loans, this question came up so often I wondered if I was bad at my job for *not* answering it on the spot. ​ Here’s what’s actually happening behind the scenes. ​ Unless you’re working with a true private money lender, almost every institution has a **range** of rates and terms, not a single magic number. ​ Roughly: - Hard money lenders: ~9–12% - DSCR lenders: ~6–8% ​ Where you land in that range depends on things like: - Your credit score - Purchase price / loan amount - LTV - Experience as a borrower - Property type and condition - DSCR / rent vs payment ​ So when a broker gives you a rate quote based only on an address, that’s a red flag. ⛳ ​ They don’t know your credit. They don’t know your structure. They haven’t underwritten the deal. ​ They’re not giving you a quote. They’re dangling a carrot. ​ If you want to save yourself a lot of headache, try this instead: ​ Instead of asking, ​ “Here’s the address, what’s my rate?” ​ Ask, ​ “What do you need to know to give me a realistic rate range?” ​ A good broker will ask questions first: ​ - Credit band - Purchase / payoff amount - Rehab or no rehab - Rent or projected rent - Experience ​ The more real info you give *upfront*, the closer your initial quote will be to what you actually see at the closing table.

Loan brokering allows me to see dozens of deals every week and understand which deals actually get to the closing table. ​ Coliving is one of the most complex strategies that often fail to meet lending requirements. ​ So here are the 6 most important things I’ve learned if I invest in coliving: ​ 1. An enormous amount of lenders do not lend on rent by the room rentals. ​ You have to find the small amount of lenders that do and HAVE to check with them before executing. ​ 2. Add extra bedrooms and bathrooms AFFTER refinancing. ​ The value is based on the appraisal and if there are no comps, there may not be an appraisal or a loan. ​ 3. Adding more bedrooms does not inherently increase the value of the property. ​ In many cases, the value is lower than homes with fewer bedrooms. Usually because those houses with lower bedrooms sell more quickly and often. ​ 4. Have a US Citizen or Permanent Resident Alien as the guarantor of the loan if the rooms are already rented out. ​ More loan options available. ​ 5. Once rooms are rented out it’s best to get a bridge loan for 12 months and then refinance into a DSCR— then you can use your coliving rental income for the DSCR. ​ Lenders won’t take 1 month’s rent on a coliving like they do with long term rentals. Like a short term rental, they’ll want to see the average of 12 months rent. ​ 6. If you’re going to build a coliving property either make a maximum 5 bedroom single family or a 2-4 plex with that same max bedroom count. ​ Coliving is a more strategic strategy and, therefore, requires some forethought. ​ Hope this helps!

❓ Can you do 100% funding? ▶️ Yes— in specific states. And KNOW the interest rate will be above 11%. I don’t want to set you up for failure ​ ❓ Can I get a loan to fix and flip a manufactured home? ▶️ Absolutely! ​ ❓ Can I get a loan for a commercial property I have to rehab? ▶️ Possibly. I don’t have the lenders for that though. ​ ❓ Can I get the rehab funding at closing? ▶️ No. Hard Money Loans will have a draw (reimbursement) process— you start the rehab with your own funds and then request the draw from the lender. ​ ❓ I have a loan coming due but I need to do more rehab. Can I get a HML to replace this lender and get more renovation funding? ▶️ Yep! Tell us the situation, let us run the numbers, and if the numbers are flexible then it’s a possibility. ​ What questions do you still have?

❓ Will this fund the land purchase? ▶️ Yes! These loans fund purchase of land + purchase of manufactured home + set up fees ​ ❓ Will this cover tap fees, septic installation? ▶️ Yes! All hard costs can be covered. ​ ❓ What LTV can I get? ▶️ 80-100% on the land purchase. 100% on the home and setup fees. 👍 ​ ❓ Do I get all the funds upfront? ▶️ No. The land and home purchase will be sent directly to the owner & dealer via title. Setup fees are on a draw system (you start the rehab with your funds and request draws/reimbursements). ​ ❓ Is this only for manufactured homes? ▶️ Nope! We can cover modular homes, as well! ​ ❓ How do I qualify? ▶️ Having 1-3 single family or manufactured flips under your belt is a sure way of qualifying. There’s wiggle room there. ​ ❓ Can I have a home on piers? ▶️ Yes! Have it on a permanent foundation and HUD certified and you’re good to go. ​ ❓ I own a manufactured home dealership, does that count as experience? ▶️ Yes it does. At least 1 flip may be required to fully qualify still but it’s better than 3. ​ What questions do you still have?

With no feet pics involved.* ​ And this isn’t even the first time this has happened! ​ I connected a friend to a private money lender and they got their flip funded. ​ While it was something simple for me, it was a huge value for them! ​ Making money doesn’t have to be hard. It can be simple and fun and make you feel helpful and good. :)