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Get Rich Education

201: How To Qualify For Income Property Loans with Caeli Ridge

Get Rich Education

Keith Weinhold

Investing, Careers, Business

4.3602 Ratings

🗓️ 13 August 2018

⏱️ 46 minutes

🧾️ Download transcript

Summary

#201: Your down payment, credit score, reserves, debt-to-income ratio necessary for an income property loan are discussed.

Ridge Lending Group President and CEO, Caeli Ridge, also tells you 15% of appraisals come in low, 80% right on, and 5% above the contract sale price.

Can a bank call your mortgage loan payment due-in-full anytime? Short answer is "no". We discuss.

Learn some good options after your first 10 loans (single) or 20 (married) are exhausted.

We discuss the effect of higher mortgage interest rates on your cash flow.

HELOC interest is not always tax deductible. Be mindful that Trump doubled the standard tax deduction threshold.

_______________

Want more wealth?

1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

Listen to this week's show and learn:

02:58 Receiving sale price discounts for paying cash rather than financing property.

08:48 Two sets of underwriting guidelines: loan spots 1-6, loan spots 7-10.

18:40 Can a bank call your loan due-in-full anytime?

22:50 Max. LTVs on cash-out refis.

26:56 Portfolio financing beyond ten loans: 6.375% interest rate.

31:00 Higher interest rates than last year.

33:27 Appraisals.

36:26 Underwriting guidelines: too loose or too tight today?

39:15 Phone 855-74-RIDGE | www.RidgeLendingGroup.com | info@ridgelendinggroup.com

40:23 HELOCs on income property: difficult to find, 65% LTV.

41:27 Tax-deductible interest, standard deduction threshold.

Resources Mentioned:

Mortgage Loans: RidgeLendingGroup.com

Cash Flow Banking: ProducersWealth.com

Turnkey RE: NoradaRealEstate.com

QRP: TotalControlFinancial.com

Find Properties: GREturnkey.com

GRE Book: GetRichEducation.com/Book

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Get Rich Education. I'm your host Keith Weinhold. What does it take for you to qualify for a one to four unit income property loan today? We're discussing that and more with perhaps the most qualified person in the United States to discuss just that today on Get Rich Education.

0:18.5

Are you looking for a roadmap to financial freedom?

0:21.8

If so, we have a solution for you.

0:24.5

Nerata Real Estate is offering a limited number of free strategy sessions

0:28.6

to help you get out of the rat race.

0:31.1

Learn how you can create wealth and build monthly passive income.

0:36.0

To set up a time with one of our knowledgeable investment counselors,

0:39.7

simply go to Nerata real estate.com. That's N-O-R-A-D-A-R-A-R-A-R-A-R-E-A-R-E-E-A-R-E-E-E-E-R-E-R-E. For an income-P-Prapture, go to Ridge

0:53.0

Lending Group. And over the years, you've heard

0:56.1

owner Chaley Ridge generously give her time to you right here on the show as a guest. Rids provides

1:02.4

investment property loans in almost every U.S. state. And you're going to find out how they've

1:07.9

helped more Americans realize their dreams of financial freedom

1:11.4

through real estate than any other mortgage lender in the entire nation when you get started

1:17.1

at ridge lending group.com. Get rich education is brought to you by Ridge Lending Group,

1:23.3

producers wealth, LaRata real estate, and total control financial.

1:29.8

You're listening to the show that has created more passive income

1:31.7

for people than nearly any show in the world.

1:35.8

This is the powerful get rich education.

1:40.5

Music Education.

1:58.9

Hey, welcome to GRE, from Paris, France to Paris, Texas, and across 188 nations worldwide.

2:02.9

I'm Keith Weinhold, and this is get rich education.

2:11.8

You know something? The word debt is probably my favorite four-letter word. As long as I can lock up long-term, low fixed interest rate debt for 30 years, like I still can today, where the tenant pays down the

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