Become A Private Mortgage Lender

Learn how private lending works and start a new business lending capital without a mortgage license
Last updated 4/2022
MP4 | Video: h264, 1280×720 | Audio: AAC, 44.1 KHz
Language: English | Size: 885.22 MB | Duration: 1h 14m

What you’ll learn
Learn how private mortgage lending works
Start a new profitable business from the comfort of your home
Discover how to profit as a private lender
Develop new knowledge that can help you profit as an investor
Learn how to lend money without having money to lend
Discover what documentation borrowers need to complete to be approved
Learn how to minimize risk and increase profits
What documents need to be completed and executed
Requirements
You will need a computer or laptop
Basic English
Description
Have you ever thought of becoming a private mortgage lender? Are you looking to start a new business or to create a new source of income? Private mortgage lending is one of the most profitable business models in the mortgage industry with the lowest risk when done right. Many people don’t know that as long as a borrower closes their loan in the name of an LLC, you don’t need to have a lender license to conduct business in most states in the U.S. Most private mortgage lenders charge 5% – 18% interest rates and have additional upfront fees which makes this is a very lucrative business model. Besides that, private mortgage lenders require borrowers to come in with a minimum down payment of 35% or more which greatly reduces risk and creates other potential profit opportunities. Hi, my name is Joe Correa, and I’m the CEO and founder of Finibi Mortgage, a licensed mortgage brokerage business based out of Orlando, Florida. I’ve closed many private mortgage loans for other lenders and have taught over 30,000 thousand students in 148 countries around the world about mortgages and other financial topics. This is a one of a kind course, you won’t find anywhere else.The secret to being successful as a private mortgage lender is having the knowledge necessary to increase your profits while reducing your risk by using the strategies I will teach you in this course. Any one can become a private lender but not everyone can do it the right way. In this course, you will learn how to: start and open a new private mortgage lending business, how to set up the loan terms and conditions, what you’re allowed to charge in fees and as an interest rate, Where to access funds to lend if your not going to use your own cash, and how to grow your business. Becoming a private mortgage lender is similar to becoming a hard equity lender but there are some differences which I will explain in this course.Besides that, you’ll discover what documents need to be completed by the borrower and what closing documents will need to be executed.Hi, my name is Joe Correa, and I’m the CEO and founder of Finibi Mortgage, a licensed mortgage brokerage business based out of Orlando, Florida. I’ve closed many hard equity and private mortgage loans and have taught thousands of students in 148 countries around the world about mortgages and other financial topics. This course will teach you how you can become a private mortgage lender and profit in any real estate cycle.GET INSTANT ACCESS TO:Lifetime access to this courseAccess to courses resources, tools, and pdf’sPractical exercises that will help you implement all you are learningPremium instructor supportCourse completion certificateTHIS COURSE INCLUDES:Instructor-led explanations and financial examples Links with important tools and information you will need24 hour access to your instructor via the Udemy Q&A messaging portalLifetime access to this courseA 30 day money back guaranteeThis course will allow you to start a new business as a private mortgage lender using investors money or your own capital.Don’t wait to get this course for the price of a couple coffees. In the future, this small investment will turn into a new income stream and a full time business.Click on the "buy now" button right now to get started. I’ll see you inside the course!
Overview
Section 1: Introduction to becoming a private lender
Lecture 1 Introduction to the course
Lecture 2 Your instructor
Lecture 3 Can you become a private mortgage lender?
Lecture 4 What is a private mortgage lender?
Lecture 5 Do I need a license to become a private mortgage lender?
Lecture 6 Whats the difference between a private mortgage lender and a hard equity lender?
Lecture 7 Basic terms and conditions of a loan as a private mortgage lender
Section 2: Understanding the fundamentals of starting a private lending business
Lecture 8 Basic steps to becoming a private mortgage lender
Lecture 9 Down payment percentage requirements as a private mortgage lender
Lecture 10 Interest rate and fees should you charge on a loan
Lecture 11 Do I need a real estate attorney to conduct business?
Lecture 12 Does a credit report need to be pulled?
Lecture 13 What if I have to foreclose on a mortgage?
Lecture 14 Should the borrower have an exit strategy?
Lecture 15 Mortgage terms you should offer investors
Lecture 16 Where to find the necessary funds to start lending as a private lender
Section 3: The risks and rewards of becoming a private mortgage lender
Lecture 17 What are the risks involved in this type of business?
Lecture 18 How can I reduce risk as a private mortgage lender?
Lecture 19 How much can I profit on each loan?
Lecture 20 How much should you charge for the appraisal and inspection
Lecture 21 Does the borrower need homeowners insurance?
Lecture 22 What if the borrower doesn’t make their mortgage payments?
Lecture 23 Can I profit from foreclosing on a property as the private mortgage lender?
Lecture 24 Are second mortgages a good idea as an investor?
Section 4: Documents you will need to master as a private mortgage lender
Lecture 25 Loan application
Lecture 26 Business purpose of loan certification
Lecture 27 Certification of non owner occupancy
Lecture 28 Important insurance documents
Lecture 29 Sample promisory note
Lecture 30 Sample mortgage instrument overview
Lecture 31 Summary of loan documents to be executed
Section 5: Finals words and comments
Lecture 32 Final course comments
Lecture 33 Thank you for taking this course
Anyone who wants to start a new business in the mortgage industry,Real estate professionals and mortgage professionals that want to take their knowledge to the next level,Anyone who wants to learn how private mortgage lending works,People who want to generate a new source of income,Anyone who wants to start a new business in mortgages

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