In the classic musical movie, Cabaret, Joel Grey and Liza Minnelli sang, “Money makes the world go ’round…”
A couple of decades later, Cuba Gooding Jr., playing an ambitious football player, screamed at his agent, Jerry McGuire (Tom Cruise), “Show me the money!”
The point is that money is the lubricant that keeps the machinery of commerce humming – and nowhere is that more true than in real estate investing.
But it’s no secret that a few years ago the world of real estate financing imploded, wreaking havoc on balance sheets from Wall Street to Main Street. Now that the dust is starting to settle, what’s the state of the union when it comes to real estate financing? To find out, we called up our old friend, The Investment Mortgage Guy.
Making mortgage music together in the studio:
- Your host and leader of the band, Robert Helms
- Your co-host and cleaner of the instruments, Russell Gray
- Expert guest, The Investment Mortgage Guy, Rob Bonahoom
In an industry where lots of businesses and people have quit, Rob Bonahoom has managed to persevere through massive change and market adversity to remain active in the business of helping investors find funding for their real estate acquisitions. So we thought he’d be the perfect guy to bring us up to speed on both residential and commercial lending in the new reality of mortgage underwriting.
Rob reveals what lenders are looking for from today’s borrowers and why newbies have a significant advantage. Even more fun, he shares specific strategies for how investors with little cash or credit can still get into the apartment game. So if you got whacked in the downturn, you’re not out of the game yet!
Rob also gets into detail on how government backed mortgages are working for real estate investors today. As we’ve always said, because real estate is such an important part of the economy and serves an essential human need – so politicians have a huge motivation (in spite of their disagreements about methods!) to help make money available…especially for residential property.
We go on to talk local banks (flush with cash!), FHA 203k, SBA loans and more!
So listen and learn as Rob Bonahoom shows us the money!
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The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.