Getting buyers approved

Buying real estate these days seems pretty straight forward.  You have many options and places to find and source deals.  The truth is, that is only a small piece of the real estate puzzle.  In order to get paid on your screaming purchase, you have to find a buyer.  In my experience, there are a lot of great real estate brokers out there working hard every day, and for every great one, there’s 10 bad right behind them.  Have you ever had a deal getting ready to close and then for some odd reason, the mortgage broker is trying to get extensions for this and that and all that crap….I’ve had this happen to me so many times, that I finally did something about it, and you should too.  You cannot rely on someone’s mortgage broker to get your deals done.  For me, I have found that by working with brokers who do their own underwriting, I can get a lot more deals closed.  Here’s why.  Freddie and Fannie have guidelines for lenders to use for them to fund deals.  Problem is, most banks put lots of overlays restricting good candidates.  So what you get is a funnel effect.  It all looks good at first but starts to get tight at the end.  With brokers who do their own underwriting, your getting Freddie and Fannies guidelines and a lot less red tape, which is why I get deals done.  I encourage you to find great real estate mortgage brokers and then have all potential offers have to run through him even if they already have financing.  Chances are, their deal will blow up and it’s nice to already have plan B in the works.