How I’m Quietly Turning 4 Rental Properties into a Passive Income Goldmine While Crushing My 9-5 Grind
Ashley:
What about your lender? Did you use a lender that was based in Detroit, a nationwide lender. And was that part of the referral system or did you have your financing lined up first?
Mike:
I’ve done both. So for the first deal I did do kind of a broad spectrum. I think it was, I don’t even remember the broker’s name, but it was a referral from the turnkey provider and then whoever that was ended up selling it off to Mr. Cooper. But now I do use a broker that I’ve used for two deals and I will be using, I’m closing next week on the triplex I mentioned in my previous video there. So he’s far and away been getting me the best interest rates. He’s extremely responsive. I’ve had twice where I’m tracking the interest rates and I get a text where it’s like, Hey, you’re not doing better than this. I locked you in. I know you’ve been asking. And he’s right. It ends up coming in like a quarter of a percent lower than anything I’d seen up until that point. So I’m very happy with them. Their closing costs are not crazy. They tend to beat almost everybody and the response rate alone is impressive.
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