Video Closed Captioning:
good morning good afternoon good evening
folks michael zuber one retaliated time
back with good friend friend of the
channel and someone who has uh
frankly been a life saver to my business
he allowed me to refi 30-year money
fixed 30-year money in apartments and
commercials so we’re going to talk about
various loan products but before we do
steven do that marketing thing that i
forgot in the first video
you and i both actually so again i
although i worked very happily for
velocity mortgage capital all the ideas
and topics discussed on this channel or
that of my own so uh yeah let’s get it
cracking yeah so the first one i have to
i s it’s really weird and i’ll probably
will see comments below this video as
well
it they go like this did he really say i
can get 30-year money on apartments and
office buildings let me be very clear
yes you can yes and and i have done it
and have evidence of it so right uh
again folks if you’re new to the channel
don’t really know what we’re talking
about let me break it down for you
most of the people that watch my channel
and is totally okay are doing
residential right you’re doing house
hacks you’re doing one through fours
it’s all good it’s where i started it’s
where i cut my teeth awesome
however some of you are watching
have already graduated to bigger things
you know the fives to 20s which is where
i play
maybe you’re doing things bigger 20 to
40s whatever
but
you’re not hearing me i don’t know what
it is a lot of you are getting
commercial financing which means it’s
typically speaking fixed for five years
it is 25-year amortization
and you are taking on an amazing amount
of risk because who knows where rates
will be in five years
right i want to say one more time
that stephen dow from velocity mortgage
will do a 30-year fixed
financing and
remove all of those issues 30-year fixed
financing for office commercial mixed
use
steven just
tell them i’m not lying
do you offer that product i mean jesus
people don’t of course no
and there’s other usefulness
or usefulness uh about the or advantages
i should say about the product because
um
again if you’re finding challenges with
getting conventional commercial
financing and or the risk of getting
only short-term financing you know give
us a call because um
the approval process a little bit easier
much easier
again you you i’ve been through it
[Laughter]
well again i wanted to have you walk the
walk because you’ve been talking to
talking i appreciated that but just so
that you could see and experience it
yourself so then you can be like you
ain’t lying folks yeah so i i’ve done
i’ve done lots of loans in my day
yes so so i do this process and i’m just
waiting for the other shoe to drop you
ask me you actually you ask for the
leases on the building i’m like
totally makes sense like you want to
make you want to make sure there’s some
human beings there i’m waiting for you
to go can i have the lease
yeah can i have the other 200 please
never happen i’m like right
damn
i think i i i knew you were kind of just
slow rolling because you you did the
first one yeah and i did i know you want
to do the second one but you did once i
was late man because i’ve been so
disappointed with lenders
right right you’re like okay okay let me
say the second one okay
so again um
do the math um again
the other thing i want to mention is
commercial financing is about to get
harder not easier i agree i’ve been
doing this a long time not only are
folks
there’s a housing market and then
there’s a lending market the lending
market is just starting to
tighten up
rates are the first thing
we’ve already seen folks
um
the powers that be say
owner’s good investors bad
april 1st
so what is that a week ago
fhfa fannie freddie have these overlays
that they’ve added that investors bad
owners good
it’s just harder and
tighter conditions
at some point
speed efficiency ability to close on
time is just the right answer yeah the
interest rate might be a little higher
but if you can get 30-year am verse 25
your am the payment do the math the
payment in some cases is lower and if
it’s higher it’s a few bucks
so again
30 or fixed
purchase
refi
office apartment yes all everything
well not everything there are certain
ones that we don’t do but tell them
well
primarily uh no hospitality so no hotels
no motels nothing too specialized as far
as the car wash
bowling alley movie theater
banquet hall
uh no no no churches um
but it could be a place of worship like
a shell of a retail or commercial space
that they you know just utilize for a
place of worship um
and then also no agriculture and no gas
stations awesome see yeah but everything
else pretty much yeah bring bring
construction loans right bring it please
i mean we’re actually expanding um
i want to share this to some degree but
let’s just say that we’re going to be
able to expand on our commercial
guidelines okay um we’ll talk about that
next week of the week still right i
can’t quite spill it just yet because
it’s still in it’s coming in right but
we’re going to have a lot more
again if you’re playing in this space
do yourself a favor reach out to steven
just get a quote just figure it out do
the math yourself if it helps awesome if
it doesn’t at least you know
uh how do you want them to reach out to
just see if you can help them
again just email me s gao at
velocitymortgage.com so that’s s-d-a-o
at velocity mortgage uh please calm
please put in the subject line the
acronym o-r-a-a-t which stands for one
rental at a time the body of the email
just a simple description of what you’re
looking for and then best phone number
to reach that within 24 48 hours either
via email or phone i’ll give you a
holler back and we can create some
numbers very cool so i’m going to throw
two curve balls at you because i know
you can handle it just because they were
top of mind for me uh yeah the non-qm
space uh launched 40-year products uh
there are other non-qm lenders out there
that are pushing them correct i think
the first set of products were kind of
10-year and 30-year fix after so
henceforth but now there are some truly
40-year
amortization products out there do you
see velocity mortgages potentially
entertaining that or
don’t know or
don’t know at this time i mean to be
honest with you because you know we
we’re not everything to everybody um
sometimes the market brings you know
certain innovative instruments or tools
given the the environment at that time
yeah um
from what i’ve talked to uh with our you
know capital uh markets people
they haven’t seen much in the way of you
know much traction on the secondary
market perfect um so yeah you’ve got to
be able to sell it right that’s the
business you’re publicly traded
we have and so
you know with the setup for that and
transitioning and getting that kind of
paper in
okay from whatever hearing we’re just
not yet just just again and then uh the
second one that uh whoever
there will let me be very clear
over the next year
some non-qm lender is gonna figure this
out and the first one to do it wins
you may know where i’m going but i’m
just gonna say it anyway
the first non-qm lender who figures out
a way to do second mortgages
so people who have ridiculously low
firsts can get equity without a heloc is
going to work
these second mortgages could be at 9 10
11 12 percent
because there are people that have the
equity have the cash flow
but aren’t going to touch their first
and they should right like two right
they shouldn’t let’s be very clear they
should not
but some non-qm lender is going to find
a way to they may charge 10 for this
stuff
well uh i’d like to kind of interject if
you need help with that i have somebody
that could
yeah it’s not me but i i know you know
again this is why you would call
typically because if i don’t
have the resources at my disposal nine
times out of ten i know somebody that’s
going to be able to help you so in the
case of a second even thirds i’ve got
something to actually do 100 financing
if you could do cross-collateralization
and or uh multiple grant tours so
if you need any help with that let me
know that’s why you got to reach out to
steven dow s now at velocity mortgage
please put five letters on the subject
line simply o-r-a-a-t
anything else in there you get stuck in
quarantine 48-hour minimum delay
not good o-r-a-a-t
um stephen thank you for all you do
again i hope you push your leadership to
consider seconds because whoever gets
that first wins and i’m hoping it’s you
guys thanks buddy it’s just higher risk
so yeah maybe something but dude charge
more interest come on stop telling me
higher risk that’s why the cost of money
is higher come on
well we’ll see but yeah i’ll i’ll i’ll
i’ll have them give us some time but
i’ll i’ll at least ask
the worst thing to say is no but you’re
right i’ll ask dude tell him percent
it’s there
you could still like
yeah why not you could still control it
right you can still say 80
total ltv you have all these other
brackets
right but you got to remember it’s over
the time it’s it’s not necessarily today
but three years from now when 30-year
money is seven percent there are going
to be so many people sitting on two and
a half thirties
that are like oh my god i have all this
equity but i can’t touch it
right somebody is gonna win
yeah i mean
the environment may not be conducive for
that just yet because it seems like
rates are going it’s coming you guys
might be going down yeah it’s coming no
no they’re already out there there’s
some smaller companies that will do
seconds um helix is still available but
they’re getting tighter they’re variable
yep and then they’re tied into it you
know an index so but no
very cool i i know what you’re saying so
anyway i won’t drag this any longer have
a good day brother thanks buddy take
care bye bye