Video Closed Captioning:
oh
good morning good afternoon good evening
folks michael zuber one rinse on time
back with the man the myth the legend mr
steven dow how are you doing sir
i’m doing fantastic to yourself i’m
doing well do that mark anything so uh i
don’t get in trouble please
well i don’t think you will i think it’s
probably more me but long story short i
would feel bad for you
although i work very happily for
velocity words capital all the ideas and
topics discussed on this channel that of
my own so let’s get it going
yeah so what i want to talk about here
is sometimes thought of by new investors
as a unicorn right it’s one of those
things you see on bigger pockets or you
see on youtube university sometimes it’s
called a blanket loan i’ve also heard it
referred to as a portfolio loan but
basically it’s one single loan
against multiple properties
correct again just an example think
you’re buying in ohio and you’re buying
20 single-family homes that each cost 50
grand 60 yes whatever let’s do 60 grand
so you’re buying 20 homes uh for 20
times 60 112 so it’s 1.2 million dollars
right that’s the portfolio
most of you would look at that and go oh
my god i need 20 loans nobody’s going to
do that oh by the way the price point
means you’re not going to get a bank
because no dodd-frank’s not going to do
those loans
you might you probably think you’ve got
to go hard money which is going to suck
that’s going to be so expensive right
that’s where the non-qm place comes in
right you do
blanket or portfolio loans you could do
that deal
20 houses 60 keys it’s going to be time
consuming
you’re going to need 20 appraisals
you’re you’re yes there’s a lot of work
but if you are looking to buy portfolios
and again i’ve been very clear my goal
in 2022 is to buy someone’s portfolio
right i want to do one transaction
theoretically it could be a couple but i
would love to do one transaction
and just do whack i bought 20 units or
30 units
and um somebody like you could do that
where i couldn’t go to wells fargo or
bank they would they would throw up on
something like that
right
uh well again i think we’ve talked about
this a particular topic multiple times
on the channel but i think it’s just
good to also refresh you know current or
new uh viewers of that fact because i’ve
got a lot of those zones down we’ve done
uh uh quite a bit actually just due to
that fact because at certain price
points no one’s going to touch the loan
it’s almost like a car loan when you’re
talking about you know 60 50 000 or so
um but with us a minimum of each
property that’s going to be included in
the blanket or portfolio just needs to
be valued at 50 000 or more uh other
than that just has to be all in the same
state
i’ll have to be one to a four unit you
know not on a residential so you can
have uh duplex along with a single
family along with the triplex blanket
those all together
but it’s been very useful especially for
that fact because again
just too small of a price point to be
able to do by itself
um
not a lot of lenders want to do that
because it’s a lot of work for for less
money basically
but other than that yeah it
i think well at least for myself
personally i’ve seen a lot more recently
as far as people inquiring about blank
loans
i don’t know if just maybe there’s more
landlords are just done just want to get
rid of their portfolio i think i think
that’s exactly it i think i think if
you’re watching this channel one ritual
at a time and you’re in a situation
where you could farm for that
i think there are a bunch of landlords
that’s like
i’m done i’m not going through this
again right i’m going to take my chips
off the table
uh and i want and the beauty about those
landlords is they know i’ve talked i’ve
spoken with many of them they know they
could sell them off individually and
make more money
they’re willing to loot yeah i don’t
lose is the right word but take 50 60
70k total less for one transaction
right they will give you a deal to do
that
right because they can always make more
money they can’t make more time because
imagine that they’d have to individually
deal with you know each individual you
know buyer for each individual property
the each closing uh you know appraisers
that is just like really no they’re like
i want to go get on that cruise ship or
whatever i want to go to italy and you
know
whatever it is for them
uh right yeah i mean one of the better
deals i did was 14 units i think it was
a quad two tries
right and four houses i think that’s
i’ve actually got one of your uh
listeners working on a pretty large
portfolio now oh wow okay uh he’s
talking with the uh uh landlord now
i think they’ve come to a verbal
agreement
um it’s about 56 properties i don’t want
to give way too much location name stuff
like that because i don’t know if it’s
finalized yet but sure yeah so we would
have to group those again
oh well i was actually going to be
working on a 23 unit uh blanket but we
were going to break them up into um
groups of of five or six each uh just
that because
correct correct so and it still met
certain loan requirements to get the
best pricing and everything else but
then he was part of the you know in
between where rates were you know again
historical lows they made a move not
[Music]
we’re talking about available same thing
30-year fixed correct
30-year fixed money also on blank loans
also in commercial so
uh other than that you know the ease of
use
if you’re still you know or
obviously you always want to try your
shot at conventional financing if you
can because it’s going to give you the
best rates and best terms but in the
event that you don’t qualify or have hit
the limit with the maximum number of 10
or what have you give us a shot give us
a call because yeah at least it’s worth
a phone call to kind of compare and at
the very least i can keep everybody else
as far as anyone i’m competing against
for your business keeping them honest
because yeah if you just call one person
you never know if that’s the best deal
so at the very least you know that’s all
i can ask for as an opportunity give him
a shot yeah again he came through for me
uh i honestly was like really 30-year
money for this came through it’s in
there i like it so again how do you want
to reach out
s gao at velocitymortgage.com in the
subject line please just put in the
acronym o
o-r-a-a-t
the body email the property type um
address if you have it at the very least
city and state
uh general desired terms loan amount uh
things of that nature and then of course
your mid fico score and the best phone
number to reach back at and uh yeah
that’ll make things a lot quicker but
other than that looking forward to
working with you there you go and again
folks subject line just o-r-a-a-t
one rental at a time
please thank you very much for your week
it’s been a great deal i get nothing but
positive feedback man thank you for all
you do
yes and and also i want to reach uh say
it if if at all possible thank you for
everybody’s patience i know these last
couple of weeks have been really tough
we’ve got decimated with you know covid
and a lot of the uh operational staff
were just out and so there were times
when i wasn’t able to look at emails for
a long period of time so i apologize for
some of the delayed response but
everybody’s everyone’s been very
understanding so thank you very much for
that otherwise if you haven’t gotten
through for whatever reason you’re stuck
in please just try back again um again
maybe you got sick because you didn’t
put that in the subject line but i’m
trying to get you know to everybody but
it’s just an immense pile of emails to
go through so uh but again yeah if you
could just follow those instructions
typically i’ll be able to reply back
very cool man thanks i appreciate it
thanks mike