Posted by Lyal on May 27, 2006 at 13:17:33:
I’m enjoying your conversations on the board (couple years later!!)
I seem to be where you were two years ago. I am wanting to rehab and rent (two companies set up already) using a WLOC for the flips and traditional morts on the rentals. Actually will be selling from my rehab co. to my rental co. to get cheap rentals that cashflow a lot. Anyway, I too am pushing for a WLOC. Going the traditional route of rehabbing (getting a mortgage, then a rehab loan) is an easy base hit at this point, but its slow and ugly and you miss those cash-now-quick-close deals to people who DO HAVE a WLOC.
So…From my perspective, you are a seasoned pro by now. What words of wisdom could you impart to a newbie concerning obtaining a WLOC? Or anything for that matter? I can always use a few morsels of wisdom.
Also, how is your business going now? Brag a little!!!