Financing and Credit

Has anyone used the lender advertising his services here on Dean's site in the classified ads/services area? Email goes by deanwillyllc. Does anyone used them or recommend them?

Admin Edit: -----------
Please research everyone you deal with thoroughly. Always assume it to be a scam until proven otherwise. Unfortunately, the internet makes it easy for scammers to operate on a large scale with little risk of getting caught. They operate on every website on the web, so assume they try to operate here.

Also, if anyone asks you to pay for services or products by Western Union, wire transfer or other instant, anonymous payment methods it is a scam 99.999% of the time.

There was a Forum created to talk about the fantastic E.D.G.E. conference. I was excited to be able to speak at the event about the success I had in raising money for some rehabs I did.

I posted a 3 step process under the Forum that Anita created, but I was asked to start a seperate one to make it easier to find and get feedback on this specific topic.

Feel free to ask questions or submit your own success in this area.

Hopefully this will help people who have run out of ideas on raising money, or don't know how to start in the first place.

I was on the website of a HML looking at their application for funds. They asked the question, 'Do you need seasoned funds?' Well, I don't know. I'm not familiar with that term. I'm going to be doing wholesale deals, or flipping contracts to other investors. Since I'll be borrowing money short term, would I need to have seasoned funds? I'm thinking NO, just because I've nerver seen the term used by anyone here on the DG forums, but I could be wrong. Can anyone help me out and explain what seasoned funds are?

Thanks a lot.
Sandi

When buying a house and using owner financing,does this info show up on you credit report or your list of monthly obligations?I was wondering if I also go for traditional financing on another property,I don't want my DTI ratio to be too high.Thanks for any help.

Before you commit to any lender, here are at least 10 questions you should ask them. If you don't like the answers you receive, then continue shopping for a loan until you find a mortgage broker/lender that you feel comfortable with.

1. Which Type of Loan is Best?

Cleaning up Your Credit
Lenders generally check with three credit bureaus (1 for autos and consumer finance) in order to evaluate your past payment history. Your goal in cleaning up your credit report should be to clean up each of the three bureaus. If you only work on one, this does not effect the reporting to the other bureaus.

Get A Copy of Your Credit Report