[dpFund]

Hey Everyone,

I just sent an email out to my database of brokers and am getting a huge response, so thought I would share it with you.

You see, I provide real estate backed loans at rates ranging from 6% - 12%.

A lot of us have a huge database of clients (including clients we funded and declines) so I had a copywriter draft an email that brokers could send out to their clients, letting them know about how they can get these rates if they own real estate.

I can fund pretty much anything except primary residence. And I can also fund with bad credit, as long as the mortgage payments on the subject property are not late.

I've already received about seventy requests for that email, in the last 60 minutes alone.

You can simply copy/paste this email and send it to your list of clients (old and new).

If you'd like to take advantage of this, I'd be happy to share it with you.

Simply send an email to me (Dan@BoulderEquityPartners.com) with "TEMPLATE PLEASE" in the subject line and I will send it to you.

Please do NOT pm me here asking for it, as I only check in periodically.

Looking forward to funding some clients together!

Dan Page
Direct: (303) 938-8280
dan@BoulderEquityPartners.com
www.BoulderEquityPartners.com

[GAMEOFISO'S]

Great Template. Thanks DP!

[paulypubco]

got the temp

great concept, looking forward to doing business with you

[DaveDemarest]

Thanks for the template, Dan. Looks good, and eager to send over some applicants.

[paulnemoy]

I used Dan's template yesterday and within an hour or so an old client contacted me about using Dan's services to refinance and take cash out of a 7 figure business building. The template definitely does work.

[Michael I]

please keep us updated on your experience if they get funded ,time frame and commission made . Thanks

[Karen37a]

What are the documents needed?Sisa? What is the max ltv?

Does Reg C and Reg Z apply?

Do they have to be owner occupied and if yes what % 51?

Do they need 6 months of payments (assets) to secure the deal?

If they have more than 4 properties will they still secure the deal?

[dpFund]

Thanks for your kind words everyone. Sorry I have not logged back sooner. Closing out the week with $4.5MM funded so it has been a busy one.

This is pretty straightforward Real Estate financing. With the following items I can tell you whether we have a shot at funding:

1.) Property Address
2.) Estimated value of subject property
3.) Total amount of mortgages owed
4.) Total amount of cash-out desired
5.) What the client's credit looks like

If it looks promising, THEN I ask for our application and a very specific credit link (I need a tri-merge report). Armed with that I can typically issue a term sheet.

I can fund with (almost) any type of credit (funding two right now with credit in the 500s). But the client cannot be late on the subject property mortgage. That is a deal killer.

I can fund pretty much any type of property with the exception of primary residence.

Properties do not need to be owner occupied. Most of the deals I fund are not. I just funded one this week wherein the client had 47 separate properties and we pulled some cash out of all of them so he could purchase more properties.

I do not fund 2nd or 3rd mortgage. Instead, I pay off any existing mortgages/liens and provide cash-out on top. So the deal size can get quite large, pretty fast.

The intriguing thing for a lot of brokers is that many clients are in a pickle with cash advance loans and other business issues. But they may own rental properties or other real estate we can fund against. In this case, my funding has nothing to do with their business whatsoever. I am funding the property (and the rental income derived from that property), not the business. The only time the business comes into the picture is if the property is owner occupied. Then I just need tax returns/financials to prove the client has the income to pay the mortgage.

Average turnaround is 3-4 weeks. Larger, more complex deals can take longer. Clean, straightforward ones can go quicker.

Hope this helps a little bit.

Feel free to email me.

Best,

Dan Page
Direct: (303) 938-8280
dan@BoulderEquityPartners.com

[Karen37a]

NOI net operating income, proforma,

Loan to Value Ratio (LTV) and the Debt Service Coverage Ratio (DSCR) cash flow

Thru a company financial analysis then a personal one. If they have bad credit they have to have huge equity and great cash flow.

2 to 3 rounds of editing go into shaping the loan and the covenants then off to proof readers , then it goes to final underwriting to kick commitments , then final commitments. Stips Stips Stips Stips

That usually is not done in 3 -4 weeks

I guess they can maybe take a cash advance while they wait, if they own a business....or investments secured on other financing vehicles

[dpFund]

Well Karen,

I guess you can challenge me on all sorts of stuff if you want to. But I've been doing these for quite some time.

Our "low-doc" loans are typically funded in 3-4 weeks. Not a lot of stips.

If we are doing a full doc loan (lower rates in the mid single digit range) then yes, a lot of stips and it will take longer. But these are typically much larger deals. I have one right now where we are pulling $15MM out of four separate operating farms. Very complicated and it will take 90 days to get it done. But it's $15MM.

The majority of what I am funding are the smaller low-doc deals, less than $2MM and they are much faster.

But you're right, these are NOT cash advance loans. It is real estate, and it will ALWAYS be slower and more involved than cash advance.

That is where the beauty is for brokers though...it gives brokers the ability to sell another product that compliments their cash advance loans. Many of my clients are using the real estate funds to pay off their cash advance loans.

Hope this helps

[Karen37a]

Well Karen,

I guess you can challenge me on all sorts of stuff if you want to. But I've been doing these for quite some time.

Our "low-doc" loans are typically funded in 3-4 weeks. Not a lot of stips.

If we are doing a full doc loan (lower rates in the mid single digit range) then yes, a lot of stips and it will take longer. But these are typically much larger deals. I have one right now where we are pulling $15MM out of four separate operating farms. Very complicated and it will take 90 days to get it done. But it's $15MM.

But the majority of what I am funding are the smaller low-doc deals, less than $2MM and they are much faster.

But you're right, these are NOT cash advance loans. It is real estate, and it will ALWAYS be slower and more involved than cash advance.

That is where the beauty is for brokers though...it gives brokers the ability to sell another product that compliments their cash advance loans. Many of my clients are using the real estate funds to pay off their cash advance loans.

Hope this helps

Thats why I asked if it was sisa....yes , low doc and huge equity, low $$amount, good credit can pass thru.

Its simple underwriting questions to see if the deal could even work. I am sure people can find deals that fit the mold, if they knew what to look for.

Kind of like Net 50 or net 30 in mcas or .over 100k tax returns, 150k p and ls etc

And I know you did it for a long time...I hung up my mortgage brokers hat in 2013...its a blurrrr. Although I do have a few mortgage brokers who work for me p/t in a cash advance capacity. I pass them deals.

One good thing...most can sign on to be a commercial broker directly ( not resi ) without major licence issues.

[WestCoastFunding]

Karen, stop being so difficult.

[Karen37a]

Karen, stop being so difficult.

I wanted to know if its sisa or nina

stated income stated asset ...no income no asset and the ltvs ...seasoning etc lol


" its the dreaded esoteric scoring model monster"

When I first started doing mcas i told an underwriter ,,if you say "esoteric scoring model" to me one more time I am going to slap you.( as a joke before I get in trouble)

I also didnt know if he was going help to place the mca if he could thru the wait ( or denied ) or just send it back to the broker who sent it...not sure if he was doing mcas.