Brokers that work with L/o contracts:closings - Posted by Robert

Posted by Dave B on October 28, 2002 at 07:38:07:

If nobody has a specific recommendation, I’ll tell you how I found my broker when I first started doing lease options. For one, I went to a local real estate investor’s club meeting. These are great resources for meeting all sort of real estate professional that you need in your business.

Take the time to mingle, talk to other investors, and ask questions. Many time other investors have a particular broker that they work with and are pleased with. Also, many mortgage brokers attend these meetings themselves as investors or simply to try to find new clients.

Another way of finding a broker would be to just get out your yellow pages and start making calls. Ask the broker if they are able to get funding for buyers with shaky credit who have been paying on a lease option for an amount of time.

Beware of something though. EVERY SINGLE broker I have ever talked to says to me, “I can get ANYONE financed!” When I actually go to use them, after fumbling around for a month or 2, they tell me that I need to deal with people with better credit so they can get them financed!

This mortgage broker should also be willing to pull credit of your buyers as part of your initial screening process. Since you are going to be bringing business to them, they should have no problem with this. After pulling potential buyer’s credit, they can review it with you and help you choose the most qualified applicant. They should also be able to tell you about how long it will take to get them financed.

Brokers that work with L/o contracts:closings - Posted by Robert

Posted by Robert on October 27, 2002 at 14:50:50:

Looking for brokers that work with l/o contracts and have lenders who do double closings.