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The Rich Somers Report

What’s Happening w/ the Capital Markets Today, Interest Rates, and How to Finance Your Deals in 2023 Pt. 1 | Jonathan Yoo and Dustin Rosenberg E15

The Rich Somers Report

Rich Somers

Business, Investing

5.01K Ratings

🗓️ 24 January 2023

⏱️ 33 minutes

🧾️ Download transcript

Summary

In today’s episode, Rich sits down with two of the best lenders in the industry, Jonathan Yoo and Dustin Rosenberg of Convoy Home Loans. They discuss interest rates in the investor space vs. the conventional space, QM and Non-QM products, and why they started their own business & got into the lending industry. They also talk about their experience funding Rich’s luxury Airbnb in Scottsdale (with no debt-to-income ratio and no tax returns). Connect with Jonathan & Dustin on Instagram: ...

Transcript

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0:00.0

It's like when banks think that W-2 employees are more safe than self-employed borrowers,

0:05.2

when in reality, like W-2 you can be fired tomorrow.

0:09.2

Self-employed, you're working your butt off to really make things happen to pay for your bills.

0:15.4

You're betting on yourself.

0:16.4

Exactly.

0:17.4

So I mean, I think self-employed is obviously safer, but it's the same idea.

0:21.8

W-2 is the safer route, but security's not there.

0:26.7

Welcome to the Rich Drummers Report

0:28.1

where we talk real estate, business, and wealth building,

0:30.8

all while keeping it real.

0:32.1

No fluff, no BS. I hope that you enjoy the show.

0:37.0

All right guys welcome to another episode of the report today. I got two of my favorite

0:44.7

lenders on in the industry. They just funded a three million dollar loan for my luxury

0:50.0

Airbnb out in Scottsdale. They can get your loans done with no debt to income

0:55.2

ratio, no tax returns. These guys are big players in this space. I got none other

0:59.3

than Jonathan you and Dustin Rosenberg. What's up boys?

1:03.0

How you doing on?

1:04.0

Doing good, doing good, excited for this conversation today.

1:07.2

So there's a lot of talk with interest rates and where we are,

1:10.8

with the economy and that sort of thing.

1:12.6

I have heard some news recently that rates are starting to trend downward and

1:16.5

we're starting to see a tick up in loan applications.

...

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