How do I get pre-qualified for a loan with LBC Fund My Deal?
At LBC Fund My Deal we only fund investment properties, therefore a pre-qualification is based on the deal not the loan. All loans are based on the asset (subject property) and its ability to produce a profit not on an individual's credit report.
How can I show proof of funds to purchase a property if I do not get pre-qualified?
You should not need a proof-of-funds letter to put a deal under contract but in the event a property requires a proof-of-funds letter we offer a proof-of-funds letter which can be purchased from the website.
Do I need an LLC to apply for a loan?
Yes. An LLC is required to obtain funding but not required to put your deal under contract. An LLC can be very important for your real estate investing's. Always seek advice from an expert like an attorney or business coach, etc.,.
Do I have to split my profit with the lender?
No, unless it is on a partnership deal. For example, if you need help with down payments or closing costs we can help by becoming a partner in the deal and splitting the profit. The profit split will be decided by the agreement and terms made.
**We are sorry but we are postponing any partnership deals.**
How do I know if I have a good deal?
If you need help evaluating whether you have a good or bad deal, we offer a free e-book that will teach you how to determine if your investment is profitable. To receive the free e-book simply subscribe to our website with your email address!
How do you profit from lending?
We profit from the percentage rates and points.
Are there any upfront fees to get a loan?
No. There are application fees starting at $197 per applicant depending on the lender that is going to fund your deal. That fee is only charged when the lender accepts the loan. No upfront fees.
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