What to Prepare For on the Lending Part

You had mentioned that the lending part is the fastest part. To make sure it's fast, what should we prepare beforehand? Yes. Before we're in the contract so it sails.

That's a great question. And that I should clarify a little bit. Lending takes time. Deciding on what loan product you're gonna go with is usually not a very long process. So when I get my deal negotiated, I usually have an idea of 1 or 2 options when I put together the LOI. So I wrote a letter of intent today for a deal in Lubbock. That comes with a pickleball court. Super cool. You guys will see so many ads if they accept that from the pickleball court. Um, I'm sorry to everyone because that is going to be the rest of my advertising for the rest of my adult life. But I wrote that LOI. They're either going to blend in a little bit of seller finance or it's just going to be conventional through Fannie Freddie. So I have two ideas of debt products. I've underwrote it both ways. Both of them work. As far as the deal debt equity, I have crossed off the debt section. I know that the debt products I'm likely to select are both feasible. That's all I'm doing is debt feasibility. Once I am officially under contract, usually within 24 hours, if not within like the same hour, I will get that to lenders to start shopping, uh, to get the loan process going. Uh, if you have a little bit of time and you're not rushed on your deal, um, I like to have my lenders pre-shop them. Uh, on my team, uh, Mark Johnson is my preferred lender for, um, like mortgage broker for Texas. When we have a deal, I will text him and have him size it up around the time I am getting ready to draft an LOI. They'll usually get back to me the next day with a, hey, we're going to be around here. So I will, at letter of intent or offer time, I usually have a soft quote from the bank. Anticipate with the numbers you sent us this LTV at this interest rate.