Once you become a lender and you’re looking for people to purchase your property, how do you find the buyer? How do you make it look affordable? How do you know which rules and regulations to follow? An RMLO or a residential mortgage loan originator will do just that. Learn from Sarah Montes who is the President of Texas Pride Lending on why you need an RMLO. Joining Keith Baker, Sarah explains how an RMLO guides the lender on the payment process. Listen in today on how Texas Pride helps lenders in this regard.
Guiding The Lender: Sarah Montes On RMLOs
I would like to thank you for sharing your time with me as well as your consideration. If you’re seeking practical tips and advice on how to increase wealth without cheap banks or unpredictable Wall Street through private mortgage lending, then you are in the right place. If you want to learn from my mistakes so that you can both avoid and profit from them, then pull up a chair and pour yourself a drink because this show is for you. This episode has been more than four years in the making. It has got a bit of a story behind it.
Before we get to that, I want to encourage you to join the Private Lender Podcast Group. It is a public group, but I personally vet the applicants to ensure that it truly remains a group of just us private lenders. After years of empty threats and promises, the Private Lender Academy is finally launching in July 2021. You have the opportunity to get in when the doors open as a founding member, which means you won’t be charged full price and you’ll receive founder pricing on additional courses in the future. Go to PrivateLenderAcademy.com for more info. Click on that Apply Now, fill out some information, tell us a little bit about yourself, and you’ll be on the list for the founding member.
It is time to get down to the brass tacks of this episode. It’s when my best borrower switched his business model from buying and converting into owner-financing notes using private lender money as the underlying lien. He streamlined his business and went more into a wholesaling model, which means he didn’t need a private lender. He also went into a small apartment complex, which was way above what I had to offer. He did me a favor and introduced me to his friend, Landon Rothstein, who has been on the show. I initially was Landon’s private lender before coming as his partner in Asset REI in 2017.
At that time, Landon was a student of Mitch Stephen. He was looking to use my money as a first position and then wrap it with seller financing with an additional lien. He explained that we would use an originator to keep everything legal and above board. Since this came from Landon, I was skeptical and decided to investigate things myself. Ultimately, I came to the conclusion that Landon wasn’t BS-ing me. He was indeed accurate, right, and correct. Before we put an owner-occupant inside a house with my money providing the lien, we used Texas Pride Lending, which took the end buyers’ application, financial information, records, and everything that a bank or loan officer would take. They confirmed that the borrower could reasonably be expected to make the mortgage payments based on their finances, how the note was structured and the length of the note. It would be reasonable for the borrower to be expected to make these under the federal guidelines, Freddie Mac and Fannie Mae.
It was during this process when I met our guest, Sarah Montes. She took care of everything and made the process extremely easy for me as a lender. If I had a question in the morning or afternoon, it was answered with the package, documents, or whatever was requested. The lender is quick and customer service-oriented for me. After I started this show, I begged her to come on the show and talk about Dodd-Frank. Why do we need RMLOs? Why do we need a loan to be originated? Our schedules never aligned. I hadn’t reached out to her for over a year. I sent an email, “How are you doing? Here’s a link to my recording schedule. I still want to get you on. I would love to interview you.”
She booked it and replied almost immediately. That was the universe or God’s way of telling me, “The time wasn’t right before, but the time is now.” Speaking of that, the time is now for you to pay attention. If you’ve ever thought about having your first mortgage wrapped or you’re an investor looking to utilize seller financing as an exit strategy, which I suggest you do, then you need to read and take notes because Sarah is about to educate all of us. She takes a complicated federal law and breaks it down to where somebody like me can understand it easily. Without any further yip-yap from me, let’s go ahead and get to the interview with Sarah Montes of Texas Pride Lending.
I have a very special guest for you. This is the first RMLO on the show and only so far and for a good reason, you’re about to find out why. Please help me welcome Sarah Montes to the show. Sarah, thank you so much for coming on.
Thanks for having me.
A little background with everyone. I’ve gone on ad nauseam about my foray into lending and into owner finance with my partner, Landon. That’s how I was introduced to Sarah. Landon was using her Texas Pride Lending for RMLO. What is RMLO?
It stands for Real Estate Mortgage Loan Originator. That’s what we’re doing. We’re originating the loan on your behalf, the private lender/owner finance. We’ve been doing originations for Landon for years. Thanks, Landon, for introducing us.
I always tell people never to loan to an owner-occupant because it’s no longer a business loan at that point. Now, you’re in the consumer world. There are a lot of protections that are in place for the consumer and some obstacles to do business with them that we have to comply with. If you are going to loan to an owner-occupant, or in this case, my loan is going to be wrapped to the owner finance model like Mitch Stephen and Landon use, then it has to go through the RMLO process. People ask me, “Why do I want to go through the RMLO process? It’s an extra step and cost.” I like to twist a quote from Chuck D and tell them that, “The reasons are several and all of them are federal.” I’m going to let you go into that part of it, why we need the RMLO, and all that fun stuff. The floor is yours.Your debt-to-income needs to be at least 50% to buy a house. Click To Tweet
If you’re going to be loaning to the consumer, to the end buyer, if you’re an investor, you’re going to do your fix-and-flip or whatever you’re going to do to a part of that property. Once it’s finished, you’re going to be a lender. You’re going to lend money to a person to purchase this property. If you’re acting as a lender, you have to follow the rules as a typical lender like the banks would because now, you’re acting as a bank. That’s where the rules and regulations come in. It’s to make sure that you’re following all the guidelines and not taking advantage of the buyer.
They put some guidelines in place in 2014. The guidelines are good because they are pertaining to a small creditor. We have guidelines for the big banks and then for the little people like us that are going to do a few a year. We’re going to be lending under $1 million. What we need to do is make sure the main thing on Dodd-Frank rules and regulations is to make sure that the buyer can afford that payment. That’s where we come in. The RMLO will gather all of the proof of income. The lender, seller, and RMLO, we’re not putting that buyer in a situation where they’re not going to make that payment. It’s going to be common sense underwriting. Does this person, after he pays his car payment and credit card bills, is he still going to have enough money after paying his house payment to live?
It’s all the whole DTI, Debt-To-Income ratio, but I want to say it’s common sense underwriting because we’re not looking at their credit. We’re not doing any of that like a bank. The main thing is the ability to repay that loan. That’s one. The reason why also that you use an RMLO is because if you ever have to foreclose on that person, if they default and you go to court, you want to be able to say, “I checked the financials. I had a third-party RMLO check their financials to make sure that they could afford this payment.” If you don’t do that, they can come back to court and say, “I couldn’t afford that payment and they still gave me that loan.”
If that happens and the judge on their side, then you would have to pay back all the interest that you ever earned on that loan and pay their attorney costs. It’s going to cost you more in the long run than doing everything you need to do now. In the beginning, do it right and be compliant. The other compliance side of that is to make sure that the buyer has disclosed all the loan terms. Whatever the loan terms are going to be, for us, we send out the loan disclosures in writing. They sign off on it. If you have to go to court, they can’t say, “I didn’t know that was my interest rate. I didn’t know this or that.” Here it is. It’s all in writing in a pretty little package for you.
It goes to one of our core values as a private lender. There are two ROIs. One is the return of the investment first. If you’re going to loan $100, make sure you get your $100 back. The second one is a return on that investment. If I have to go to court, I would not want a judge to say, “I’m sorry. You’re going to have to pay everything back.” I’m a stickler for this, especially with my money go through the RMLO process. Depending on what state you’re in, make sure you’re under usury as well because you don’t want your loan invalidated in court.
The other thing that we do with your RMLO is we know all the laws, regulations, and thresholds for you to stand there. This is where we come into is to guide you to say, “These are your terms, but let me suggest this because of the thresholds that we have as small creditors.” That’s another great reason to use an RMLO that knows the laws for a small creditor. An RMLO is a licensed loan officer. The majority of them out there are trained in the conventional world. They’re only going to know the big predator regulations. They’re not going to know the small creditor regulations like Texas Pride does.
You provide services in Texas. Do you go out of state as well?
No, we’re only licensed in Texas, but we are opening up other states in 2021.
I was a little ahead of the curve. That’s fine and good to hear.
I want to add. Everybody asks me all the time, “Why can’t you do other states? There’s so much need out there.” We have so much going on here in Texas that it’s hard this whole time that we’ve been doing it. That’s what’s kept us back from doing it.
I’m in the same boat. I don’t even have to leave Houston, let alone Texas, to put my money to work. Unfortunately, I run out of my own money. It’s not like I have a whole lot, but I do try to put it out there. People say, “Why don’t you lend here?” I’m like, “Why?”
I have a lot of private investors do that come from out of state. They specifically want to loan in Texas because they know the market is so hot.
I look forward to seeing what states you guys do pop up in. This isn’t just, “I’m bringing somebody on.” I’ve used Sarah and Texas Pride myself. This is like a testimonial coming from me. We’re Dodd-Frank compliant. You’ve provided all the documents to protect me, the lender and/or real estate investor, for doing owner finance. We’re compliant there. What are some of the other benefits on the backend of having the RMLO go through the loan?
At the end of our processing, underwriting, we’ll give you a full underwriting package for you to keep for your files. If you ever decide that you want to sell that note, later on, you have this compliant underwriting package that says you have a qualified mortgage. It’s a stamp of approval that you have a qualified mortgage. Note buyers typically will pay a lot more when you have a qualified mortgage. That’s probably one of the biggest reasons too why you should if you’re planning to sell that note later. Even if you say, “I’m not interested in selling my note,” you never know. Later on down the road, maybe you package them up. You have ten, sell the whole portfolio, cash out, and start all over again. That’s another reason to have an RMLO package in your files for each property that you do.
I tend to hold my notes until the end. However, that’s not to say that I might not get in a bind or need to sell 1 or 2 years’ worth of a note that income stream.
Maybe you have another opportunity you want to go after.
I need to recapitalize to go off into something bigger and better. I’m only teaching and coaching on residential, but in my personal lending, I’ve gone out into multifamily and commercial as well. There’s a whole other set of underwriting and everything else beyond that. To circle back, let’s define a qualified mortgage.
A qualified mortgage is you have made sure that the buyer is qualified through the ability to repay. That there are no risky features in the loan terms that you’re under the thresholds for a small creditor. The interest rate has to be under 6.5% plus time. That number is continuously fluctuating every week. We have to check it and see where we’re at. Whatever the prime rate, plus 6.5%. That’s your max threshold for the interest rate. As far as the terms, you can’t go over 30 years. You can’t do a 45-year mortgage or something like that.
There are all these little different things that we need to do to make sure that the terms are within the threshold to call it a qualified mortgage. Once we run everything, we’ll give you a qualified mortgage report that says, “Check, it’s passed.” Another thing is points and fees. You can’t charge over 3% in points and fees. It’s different things like that we make sure. As we RMLO, I’m the one that’s going to make sure to keep you within those thresholds and guidelines to make sure that you have a qualified mortgage.Keep your purchase price payment affordable. Click To Tweet
I’m used to hearing points and fees. If I lend out of my self-directed IRA, those fees that I pass onto the borrower would be included in that 3%?
That’s right. It has to be under 3%, but those are the lender fees, the fees that are going to hit the APR. It’s not title fees and escrow reserves.
Is it 3% points in junk fees?
Yes, just lender fees. It’s anything that you’re going to tax the buyer with origination fees, funding fees, and transaction fees. Anything that’s going to be paid directly to the lender, that’s where you’re capped.
Thank you for clarifying.
If you’re paying the title company or an attorney, it’s not in that.
Normally, when I’ve done owner-financed notes or wraps, we don’t even charge points to the end buyer as long as they’ve got a big enough down payment or whatever threshold Landon has set. Whoever has got the most money when we do these things, he’s the one with the boots on the ground doing it.
Ninety-nine percent of the lenders do not charge origination fees.
We’re trying to help someone who’s unmortgageable get into a house with a mortgage. Let’s roll back here. I’m curious and know I can Google all this. I tried to Google what the prime is but I didn’t get the prime rate is what I’m looking for. I was trying to search the prime rate now.
I usually go to Bankrate.com. It will say conventional, FHA, VA, and all of that stuff if you just do a conventional loan. It’s typically right around 3.5%. Now, the interest rates are super low. You might see 3.2%. It goes for the week. Every week, it changes. It’s hard for us to charge higher interest rates. We’re about at 9.25% since we don’t know what the future holds and when these interest rates will start rising again because we used to be at 9.99% or 10%. We’re struggling with that because of the low prime rate. What I would suggest is to do a five-year ARM, Adjustable-Rate Mortgage, so that you don’t have to guess what’s going to happen in five years. You can start off at whatever it is now and then you say, “In five years, I’m going to add the 6.5% to prime, whatever the prime is at that point.” As interest rates start going up, so does yours as well. You’re going to be with the market. You’re not going to be left behind. As interest rates go up and your threshold is up to 13%, you’re kicking yourself. It’s another way to protect yourself when it comes to interest rates.
Correct me if I’m wrong. In Texas as the consumers, you got to be under 10% or no higher than 10%?
It’s based on the 6.5% plus time.
Back to the consumer side of things, DTI, Debt-To-Income. I like to give people quick stuff like, “Average guy or lady on the street wants to buy a house.” What kind of DTI do they need?
For quick, fast numbers, I would always say 50%. Say, “How much money do you make? The 1% rule for the payment is a good tool for you.” I always say, “One percent of the sales price is typically your mortgage payment that includes taxes, insurance, servicing fees, and everything.” If you use 1% of your sales price, then that will give you what your estimated payment would be. It’s easy numbers. If you have a $100,000 house, your payment is going to be $1,000. Maybe that’s a bad scenario. If you have a $200,000 house, your payment is going to be $2,000 a month. That person has to make $4,000 monthly to afford that payment. You’re out in the field, walking the property with a client for fast, quick numbers that you can put in your head, say anything under 50% would qualify the buyer. I do recommend it to be under 48%, but we’ll get technical once we get all their proof of income and find out what other stuff they have going on.
The only thing I’ve seen that blows anybody out of the water when it comes to DTI is going to be somebody that has a large car payment. Sometimes, buyers will get into a bad car loan. Maybe their car loan is as much as their mortgages, like $850 or $1,000. Those are the only scenarios that will blow them out of the water. Typically, if you use that formula, that’s an easy, quick formula while you’re out in the field. It’s easy to say, “This person is a good candidate to purchase this house,” but if someone comes to you and says, “I only make $1,000 a month,” that’s not going to work.
We could go down a lot of rabbit holes here, but there’s one thing I wanted to touch on before we wrap up. When I met you, RMLO is what you use. Now, Texas Pride Lending, you guys are offering doc prep and everything an owner-financed investor needs. Tell me about your brokering. Let’s get into that because I know a lot of people want to lend in Texas. The people who call me were like, “What am I investing in?” I was like, “I’m not brokering and going through all the deals. I’m happy to do that for a fee and provide an opinion all day long, but I don’t broker.” Tell me about Texas Pride Lending’s brokering.
We have clients that will come to us with a property and they’ll say, “I want to purchase this property. I have my 20% down.” We’ve qualified them. They qualify. Everything is great. We have a buyer, property, and deal. We need the funding. If there is somebody that wants to place their money, then they don’t have to go to do the acquisition, rehab, or find the buyer. We’ve already done all of that and have everything set in place. Everything is done, negotiated contracts and everything. We bring it to that private investor who wants to place their money. We say, “These are the loan terms. Here’s the underwriting package. This is what the buyer looks like. This is the property. We have appraisals. Everything in line.” You take a look at it and say, “I like the deal,” then you can take that note.
If you’re wrapping that loan, that’s a whole other subject if we get into wraps. If you’re going to borrow money to buy this property and then take on this note, then you’re going to be in the second position. Your underlying lien mortgage holder will be in the first position. The interest rate that you’re borrowing money and lending at, you’re going to be making that difference. We have servicing companies that will do all of that for you, too. You don’t have to worry about collecting payments or figuring it all out. I know you’re going to get to that, but this is super important for everybody because it’s best for you to let the professionals handle that.
You can go back and read my early episode in March 2021 Due Diligence for Private Lenders, if you don’t have a note-servicing company, 1098. The insurance is paid and all that. Get a note-servicing company and let the borrower pay for it.
They collect the payment from the borrower and then they pay you the difference, whatever comes to you every month. You don’t have to worry about it.
The investor gets his cut and the arbitrage in between. I get my payment.
We set that all up for you. You’re clueless and you’re like, “How do I do that?” Texas Pride helps you do that as well.
In order to get people interested, I might go to PrivateLenderPodcast.com/pride. Fill out a little information. It will email a form over to Sarah and then you can show what you got.
I can feel it all the time. On a weekly basis, I could post, “Here’s the deal. Who’s interested?” and then go from there. Now, real estate is going nuts. We have 3 to 5 applicants a day. We try to place and connect them with private investors that are wanting those types of deals.
Let’s talk about average terms. Every deal is going to be specific. People always ask me, “What are my terms? What is the deal?” We never reuse paperwork. A ballpark I tell people, “If I like you, 9.9% to 13% is normally what I charge.” I always pull enough points to cover a foreclosure because I lend out of my self-directed IRA and I want to make sure that money is there. In case I have to foreclose, my IRA can pay for it. There’s no commingling of funds. Let’s talk about duration linked to the loan rates. What can someone expect?
The average now is a 9.5% interest rate on a 30-year fixed mortgage. The reason why we do that is because those terms are keeping us compliant. Long-term 30 years is what’s going to keep the borrower paying, too. You don’t want to add any crazy or risky features where the buyer can’t pay that mortgage in the long run. Those are going to be standard. What I always say is, if you’re needing your return on investment to be higher than the 9.5% interest, then you can mark it up and add fees. You can add it in chunks. Maybe you add on your 2% or 3% that you need to the sales price. In the long run, the Math comes out where you’re making the return on investment that you wanted to make. We get very creative.
Another thing that we do is creative financing. Whatever it needs to do to benefit the lender and buyer, everybody is taken care of and happy. That’s one. The second thing that we’ve been doing also was the five-year arm. It’s still amortized over 30 years. The payment is still affordable. The buyer has five years to either refinance if that’s what you’re wanting. The reason why I say 30-year notes too, which is our primary, is because most of our investors don’t want them to refinance. They want to keep that note long-term and so do the note buyers. If you don’t want to keep it long-term, it’s okay because when you sell that note, whoever is buying that note wants that note long-term and for 30 years.
To the creative financing piece, one of the deals that I did with Landon, the buyer was like, “I’m not going to have a second position lien.” Landon had the first position. We had to rework the paperwork, where we had an amortizing loan that went through Texas Pride. He had good numbers. I was very disappointed to find out that the loan was only for 10 or 12 years. I was like, “Let’s get twenty.” It didn’t make sense. It’s worth going through just for that. On other ones, whatever the numbers dictate. Once the applicant has gone through and everything is vetted and compliant, that’s going to dictate what you can get away with it. It’s how long a term you can get. The rates are already established as to what range they’re going to be in with it.The best thing a borrower can do is to be a gentleman. Do what a good husband would do. Click To Tweet
A lot of people too are talking about these interest rates. If you’re not new to this private lending game, you’re old school, or you’ve been doing this for 10 or 20 years, those 9% interest rates bother you. You’re like, “I used to lend at 12% or 11%.” That’s why I say, “We can come up with a way that you can still make that money but still be compliant.”
To your point, it goes back to the purchase price. Keep that payment affordable. Once I go into a car dealer, I said, “What do you want your monthly payment to be?” I said, “I want to pay cash. Give me a price on the car in cash and then we can talk whether I’m going to finance or not because I’ve got credit unions.” The last time I went into the dealership, I got a little obstinate with the salesman. I was like, “What’s the price?” I was in reverse engineering with everything from where he was coming from. He was a good salesman. He was using NLP and establishing the problem. He said he was going to get them. I do like that in the creative financing world. Whereas a lot of people would walk away from that, thinking, “It’s not going to work because of the rate.” It’s extended a couple more years or raise the price.
We can always do something. Going back to the terms, our usual terms are going to be 15% to 20% down. The buyer has skin in the game. That’s why we have a 1% default rate because buyers are not going to walk away from that type of down payment. They’re going to do whatever it takes to make that payment every month. We always have that educational conversation with them at closing, saying, “If you ever run into any issues or problems, please give us a call and talk to us. Let’s discuss it and see how we can help you.” Some of the times in the past years, they’ll say, “Sarah, I have to leave the country for whatever reason. I have a sick relative.” I say, “No problem. Here’s $1,000 for your moving expenses. Return the house back to me. I’ll take the note back. We’ll release you from all obligations.” I got that house back. I redo it again or resell it. There are ways for us to get around that whole someone is defaulting or having to go through the foreclosure.
People have been reaching out to me, not so much for the teaching of how to be a private lender. They want me to come to talk to their students about getting money from private lenders. I always say, “The best thing a borrower can do is be a gentleman. Don’t walk up to every girl at the bar and go, ‘What are your terms? How much? How long?'” Don’t do that. Private lenders do like to be wined and dined a little bit. Not all of us, but some of us do. Also, do what a good husband would do. Communicate. Just say, “I’m in trouble.”
I say it because I was a terrible husband and I have the court order to prove it. Nonetheless, let me know. Most of my frustrations and horror stories that I share are due to there is a week left on the note and I haven’t sold the house. The rehab is done, but it hasn’t sold. There’s no extension in the paperwork. I’m like, “If you would have called me a month ago, we could have probably worked something out.” When you wait until the last minute like that or it’s the day after the note is due and no return texts, phone calls, or emails, that does not put anyone in a good mood.
Don’t make me have to come to find you.
Don’t make my job harder. This is supposed to be passive. If you come, reach out to me and say, “I’m in a pickle,” divorce, sickness, things happen. Maybe at the end of the day, it’s like you said, “Here’s $1,000. Let’s do a deed in lieu and we’ll move on. You get the house back. You can sell it and do whatever if you want to make it an investment property.” The beautiful thing is you’ve got a qualified mortgage. They can’t say you’re a predatory lender. That’s the key right there. Don’t hit on every private lender. Be a good husband, communicate, and listen. Let us know when something goes wrong.
That’s what we tell our buyers. At closing, we have that conversation with our buyers and say, “We’re not your enemy. We’re not going to be this mad collector. We’re here to help the situation.” That’s another reason too to come through Texas Pride when we’re talking about brokering these loans. It’s because if we find out that the buyer is behind, we’re going to stay on that for the next six months. We’re going to log in to your account, make sure that they’re making their payments, and make sure that it looks good because I want you as a lender for a lifetime. I’m not going to give you a crappy loan and say, “Too bad.” You need to stay on my roster.
I’m going to do everything I need to do on my side to make sure that I’ve put you in a good position with this note. If we see that someone is late month after month, we’re going to pick up the phone and have that conversation with them, “Remember what we talked about in the beginning?” and see how we can fix it. When that happens, we try to get another payment so that we’re always one payment ahead of time. We always get involved to make sure that your note is always going to be producing that. If we have to buy it back, we’ll take that property back.
That’s why I don’t have a problem with owner finance. I was like, “Okay.” To your point, things happen. People need to move on. If they’re interested in your brokering, they can go to PrivateLenderPodcast.com/pride. If somebody just wanted to use your RMLO services, doc prep, or get into your universe, what’s the best way to contact you and get a hold of you?
Our website is TexasPrideLending.com. You can go on there and submit a request to contact you or you can call our 800 number. You can talk to any one of us. Everybody at Texas Pride is very knowledgeable on seller finance. We’re all specialists in the field. We’ve been doing it a long time. Our 800 number is (800) 515-0445. Also, if you want to send us a quick email, it would be Mail@TexasPrideLending.com. You could even send me an email and say, “I’m thinking about flipping this rental property into owner finance. What do you think?” Maybe it’s a conversation that you’re wanting to have right now because you don’t know how to proceed with it or if you should proceed with it.
Another service that we also provide is we’ll also help you sell that owner-financed property. We don’t flip properties on MLS when it comes down to financing. That’s not how it works. We have about sixteen marketing agents out there in the field. They already have 100 buyers ready to go. We don’t have the inventory. When your property becomes available, we shoot it up to them. Typically, we have a buyer within three days. If you do have a property or you’re contemplating, give us a call and talk to me, Sarah Montes. We can walk through it and see if it works out, the benefits to you if they go on your finance versus rental.
You know where I stand. No tenants, toilets, contractors, managers, or trash. Just a monthly check. Either that check hits the bank or it doesn’t. It’s simple and binary. There’s no toilet call in the middle of the night and water spewing everywhere. “It’s messed up and the sewer backup.” Sarah, thank you so much for coming on. This is the first of probably many episodes. You can’t get a bigger endorsement. I’ve used Sarah and Texas Pride Lending for RMLO. I’m happy and honored that you came on.
Thank you. I’m looking forward to working with all of you.
That was the interview with Sarah Montes from Texas Pride Lending. That was just scratching the surface of the knowledge and expertise that Sarah and the people over there at Texas Pride have. They could share it with you to make your owner-occupant underwriting experience a breeze, as they did for me. More importantly, I bet it will help you sleep at night because it certainly helps me sleep. You can learn more about Sarah and Texas Pride Lending at TexasPrideLending.com or by calling (800) 515-0445. I would like to thank Sarah again for coming to the show. I know she provided a ton of value. I hope you will consider her and Texas Pride Lending for your RMLO needs in Texas and soon in other states.
Here’s the deal. I don’t charge money for the show, but there is a cost. I would be extremely grateful if you could help me drive awareness of the show, get the word out, and tell your friends. The biggest way you can do that is by leaving me an honest rating and review over at Google Podcasts, Spotify, iHeartRadio, SoundCloud, or whatever platform you’re using, but it would mean the world to me if you could head over to iTunes and leave your honest rating and review there. iTunes still has the most influence over podcast exposure. Don’t ask me why, but it’s still the 400-pound gorilla for a little while. Otherwise, I wouldn’t ask for a favor. iTunes has made it easy to go over and leave a rating and review. It doesn’t take that long. It’s a small price to pay in order to erase all that negative karma that you carry from your childhood. Think about that. You’re helping yourself more than you’re helping me.
I would like to leave you with a few final thoughts. Please go over to the Private Lender Podcast Facebook group and join. Also, remember the Private Lender Academy will launch in July 2021. Head over to PrivateLenderAcademy.com for more information. To be eligible for discounts and other prelaunch goodies like coaching calls and founder status, then click on Apply Now, fill out a little bit of information, and get on the list, so you’ll know when we launch and when the goodies drop. As I sign off, in addition to self-awareness and mindfulness practice, I wish you a safe and prosperous private lending. I’ll catch you on the next episode.
- Private Lender Podcast Group – Facebook
- Landon Rothstein – Previous episode
- Mitch Stephen
- Texas Pride Lending
- March 2021 Due Diligence for Private Lenders – Previous episode
- Google Podcasts – The Private Lender Podcast
- Spotify – The Private Lender Podcast
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- SoundCloud – The Private Lender Podcast
- iTunes – The Private Lender Podcast
About Sarah Montes
At Texas Pride Lending, we offer unparalleled loan origination services which include, but not limited to loan application, collecting income documents from the borrower, and disclosing the mandatory loan disclosures to your buyer.
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