#Friday and we've passed the halfway point for business days left this month! Stay calm. Plenty of time to knock out more this month and to set up your November/December. We are so grateful to have incredible broker partners! Thank you for the business, and have a great weekend! 🌅
It's Columbus Day. We are OPEN, however in conjunction with the market closure today, our lock desk will ONLY be working revisions and extensions. No new locks or re-locks. Normal lock desk activities will resume on Tuesday, October 15th.
Thank you for your partnership.
9 Days into October. Is your month starting to take shape? Don't stop!! Columbus Day is this coming Monday. We are open, but our lock desk will only be working extensions and revisions. Line up the new locks today if it's looking right for your borrower. Have a great weekend!
RD now allows college, trade, and certificate school to be combined with work history to document the 1 year employment history requirement allowing more borrowers to qualify! Read the latest announcement on gmfspartners.com! https://gmfspartners.com/usda-announces-changes/ #usda#rd#partners#tpo#wholesale#wholesalelender#wholesalelending
Independent real estate investors purchase multiple properties.
In general, real estate investors tend to own more than one property. However, the incidence of multiple property ownership among Velocity borrowers is significantly higher among those who own single-family investment (SFI) properties and condominiums.
On average, Velocity investors who purchase SFIs tend to own significantly more properties (4.6 versus 2 for other investors). The same is true for condominiums, where Velocity customers own 2.8 properties versus 1.6 for other investors.
Mortgage applications are up 33% since last year throughout our industry. As a result, many lender's underwriting turn times have ballooned with the increase in volume. 72 hours... 96 hours... some even 20 days!
At Princeton Wholesale, we are at 24 hours.
Just another reason working with us is #Effortless
#yum was the word last week when Alex, David, Grant and Mike treated the office to an amazing taco lunch! Thanks gents! And thanks to everyone in "the Pac" for everything you do for our partners and clients each day! 🌅 😋
Based on our survey, the most common type of investment property among independent real estate investors is a single-family home.
Six out of ten real estate investors own an SFI that is used to produce rental income.
About 11 percent of investors own a multi-family (apartment) building with 5+ units with a property value that is less than $10 million.
Mixed-use buildings, composed of commercial business and residential units, account for 4%.
Small commercial buildings valued at less than $10 million account for 13%. The popularity of SFIs is linked to several factors, including: a lower price, greater appreciation potential, lower maintenance fees, lower tenant turnover.
Our research found that more than six out of ten investors rely upon the assistance of a real estate agent to help them find properties with investment potential. However, age plays an important role in the adoption of other methods used.
Younger investors have a significantly higher incidence in the use of online real estate listing sites. Investors under the age of 55 are 38 percent more likely to engage with online real estate listing sites and 33 percent more likely to use an Internet search engine when looking for investment properties.
In contrast, older investors have a higher incidence of using a real estate auction and/or a friend or associate to find investment properties. Investors over the age of 55 are 67 percent more likely to utilize real estate auctions and 20 percent more likely to consult with a friend or associate when looking for investment properties.
Episode 8 is out! @thetroymcclain joins us to talk about his driving force being on the first @apprenticenbc and what keeps him in the game identifying opportunities. Available now on all major podcast channels. 🔥🔥🔥