How To Sign Missouri Banking PDF

How to industry sign banking missouri pdf free

[Music] hey what's going on everybody joe mccall here just with a quick little tip a lot of you guys are wondering how do i get a pre-approval letter i want to make an offer on a property the realtor is telling me i need a pre-approval letter the seller's telling me i need a pre-approval letter well one of the first things i always tell people is listen if they're saying that they're probably not motivated you can only do deals with motivated sellers right well what if though you still wanted to give a pre-approval letter where do you get this i see this question almost every day and i'm going to show you right now how to do that you interested all right so let's jump into my computer screen this will just take me a minute um i just found this out it's kind of why i'm excited about i want to share it with you because all of you can do this right now and you know maybe if you have really bad credit this may not work for you but um i just did it and i'll show you what i got all right so here go to the screen go to google and type in something like better mortgage pre-approval letter um i don't remember where or how i heard about these guys but i heard somebody talk about it on facebook in terms of just get a pre-approval letter from a uh from a lender an online lender or something like that and i went to a website and then they recommended one or two or three websites and then i heard about better mortgage and i just did it and it was like really super easy in about three minutes i got a pre-approval letter so anyway google better mortgage pre-approval letter and you'll see some links or you could just go to better.com if you go to better.com it's a website that looks like this it's kind of like the a quicken loan thing a rocket mortgage but the cool thing about this is they actually give you a pre-approval letter that you can give to the seller to the realtor whoever you're wanting to make this offer on the property so i'm not getting anything either by referring these guys to you just check it out you go to better.com and just go through this and play around with that i'm actually logged into my account here but what i did is i just went to our services i went to mortgage get started and are you buying or refinancing i did buying c rates and i'm not actually looking for rates i'm just kind of answering their questions here and then you say right here i'm making offers great you're in the right spot how can we help get a pre-approval letter check this out right there when you plan on purchasing i just did three to six months where are you looking and you can put in your city let's just do st louis missouri click next what type of home are you most interested in i did investments what type single family what's your expect expected monthly rental income i did 1500 click next and um it's working now to see how much you can afford we'll do a soft credit check and uh this isn't like a hard credit check that shows up in your credit it's not that bad so then you click next and then here's where you put in your information and this just it just took me a minute to fill this out first name last name mobile all that good stuff and then it's going to ask you some questions about do you currently own your currently rent what's your income and uh just fill it out like you can as best you can and then when you do that you're going to get something that looks like this congratulations here's your pre-approval letter and uh i was pre-approved for 392. they'd asked me how much do you want to be approved for and i just said the most which i think they told me was 490 based on the area i'm trying to be in and then they ask me what down payment do you want to do and i said 20 um so and then it asked me where i just set a city but i don't know if you can see this very well let me zoom in a little bit actually i don't need to zoom in that much and then this is actually a a real pre-approval letter cool and then you can edit this for an offer if you click edit for an offer you can say you know maybe change this to 10 um oh so the minimum mic to qualify is 15 all right fine 15 percent um click update no loans available so i have to do 20 now here's the thing too you got to remember i'm just making an offer to wholesale this deal right i'm not even maybe maybe not even buying it i'm just wanting to send an offer get it accepted and then sell or assign or double close that contract to another investor and move on all right so looks good and this is kind of what i was approved for for the interest rates and stuff like that again i don't care about any of that updating your pre-approval letter right and then you can click save to device and when you do that you're going to get a pdf letter that looks like something like this let me zoom in a little bit so you can see it congratulations you've been pre-approved for now again you may not be a pre-approved for 392 000 i don't know if that's good or bad or what i just they asked me what purchase price and i did the max that they would let me do it but even if you did a hundred thousand 150 000 or something like that um you're going to get some pretty cool you'll find out what you're approved for and then you can take this pdf and give it to the agent or the seller for your pre-approval letters is that cool again you don't have to get a mortgage to buy this property you're just making an offer and for you to make an offer sometimes to look more professional or credible it helps to have this kind of thing so also if you're making maybe blind offers and i've done this a lot where i'm sending a blind offer to a realtor i look for properties that have been on the market over 30 days right that need work and i'll have a va a virtual assistant send offers email offers to the listing agents and say hey we saw this property at 123 main street looks like a nice house you know we'd like to make an offer on it but before we send you a ridiculous low ball offer i just wanted to see if your client was a little more negotiable on their price would they accept something in this price range which might be like 80 or 85 percent of the asking price and you can say well before i send you a contract and do all of that stuff would they accept something in this price range let me know attached as a pre-approval letter and um and let me know if if we can talk you understand so instead of hitting them with an official contract which takes a lot of time and effort and they're not going to accept the typical real the investor contracts send them just an email right and attach an approval letter like this and that just gets your foot in the door makes you stand out a little bit more than your competition and again you don't have to get this mortgage right you can make an offer 30 45 days to close and then sell the deal to an investor double close use hard money whatever you want right to uh to wholesale that deal you don't have to use this with realtors too you can use this with sellers you can use it when you're making offers to to whoever alright so i hope that helps and let me know what you think if you have any better ideas all right we'll see you bye