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Unlocking Multifamily Lending with Julie Anne Peterson · The Academy Presents podcast

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  Did you know that 90 % of the world's millionaires
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  invest in real estate? Well, I'm Angel with the
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  Academy Presents Real Estate Investing Rocks,
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  and I'm here to help you if you want to go for
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  your piece of that pie. Are you new? Are you
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  new to this and you just don't know where to
• 0:20
  start? It's okay. Are you someone that has invested,
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  but you feel stuck, you feel like you've lost
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  momentum, you don't know where to really head
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  from here? Are you a seasoned real estate investor
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  who is doing great but maybe you just want to
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  hone a few skills here and there? This is the
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  place for you. The Academy Presents Real Estate
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  Investing Rocks podcast will connect you with
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  industry experts so that you can save time, avoid
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  costly mistakes, and begin living the life you've
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  dreamed of all through real estate investing.
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  You're already taking the first step. just by
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  joining us here today. I would even say too that
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  there's so many people that have come into the
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  space from residential. Yes. And in residential,
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  man, we are buy and hold kind of people. That's
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  what we're used to. That's what we're conditioned
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  to. I grew up in a family that invested in residential
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  real estate and they owned those from the time
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  I was four years old to the time they died. Yeah.
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  I mean, that's the kind of buy and hold I'm talking
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  about. It's a lot. You know what, Angel? I do
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  want to share with you something and your guests,
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  because this is huge. It started in January,
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  and not a lot of people know about this. Single
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  family. People who have owned single family.
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  I'm not talking fix and flip. I'm talking about
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  people who have owned for two years, two to four
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  units. So you're talking about duplexes. tries
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  quadriplexes, okay? So a minimum of five duplexes
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  or combination, 10 total, you now qualify to
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  be a sponsor on your own for Freddie financing.
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  Did you get that? Let me say it again. I'm gonna
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  go. Hold on, hold on. Okay, my mother -in -law.
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  She and my father -in -law have 60 units of residential
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  multi, and they've had them since Jason's dad
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  was 40. They qualify. And they're 70. Yes, they
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  qualify. So we just bring Jason's mama on in
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  that word of agency. Absolutely. No freaking
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  way. Absolutely. Guidelines just changed. January.
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  This is huge. everybody, big deal. And not a
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  lot of people know about it. So we don't have
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  to wait 10 more months. No, we bring his mother
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  on. Absolutely. And because she has 60 units
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  of residential multis and has had them for 20
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  years. Yes. And it makes sure I want to make
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  sure you understand it's duplexes. It's not single
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  one. Everything they have is duplexes, traplexes.
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  Absolutely. They qualify for Freddie financing.
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  Son of a gun. Son of a gun. This is big, big
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  news. Huge, huge announcement. So they could
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  even so I'm thinking out loud here. Absolutely.
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  Mom could even turn around. So everything's fully
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  paid off. She could turn around and leverage
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  it because it's all within three streets. It's
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  very close. It fits those rules. It's super close
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  together, like door by door within two or three
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  streets. They could, she could leverage it and
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  come into something else. So how long has she,
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  I mean, we, we could take this offline, right?
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  So, you know, obviously you're live. Yeah. How
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  much is she net worth? Now remember, let's just
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  kind of break that down for everybody here. Anna,
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  Freddie, or Fanny, you're gonna need net worth
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  greater than the loan amount. By $1. By $1. So
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  let's talk about that. $10 million deal, 60 %
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  leverage, you need a $6 million net worth. $6
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  million and $1. Liquidity is 10 % of the loan
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  amount. So I need $10 million deal. $6 million
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  loan amount, $600 ,000 in liquidity. That didn't
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  come from one person or for how many people are
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  on your team. Now keep in mind, the more people
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  on your team, the less money you make. So I always
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  say, make your team smaller. And again, the larger
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  your team, the harder it is to make decisions,
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  right? So that all goes in line. And then the
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  last piece is this experience. So if you like
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  Mama Williams, right? It's your mother -in -law?
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  Yes. It typically is for Freddie. We're just
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  talking Freddie. It's three to five transactions
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  for two years. or one for five, or in this case,
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  they just open these guidelines up for single
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  family is a two to four units, 10 total for two
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  years. I mean, this is huge. So this is, this
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  is like a complete and total game changer, like
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  a big, big, because they've, they've literally
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  got 60 or 70 units. Some of them are in the family
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  partnership. Some of them were Steve and Kathy's
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  alone. But there's at least 50 that were Steve
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  and Kathy's alone and they've had those at least
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  20 years. So now since mama can be our agency
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  card and Jason's sister and brother -in -law,
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  me and Jason and Frank and a couple other people,
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  we're set now. You know who to call. Call me.
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  big deal because so Jason and I have been a residential
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  for 20 years. Yeah and none of our residential
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  experience has really mattered. It doesn't typically
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  matter. It typically doesn't matter until this
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  guideline got changed and it got changed in January
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  and not a lot of people are talking about it.
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  I mean there's why right because we're dealing
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  with the bridge situation we're dealing with
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  you know all of the headlines, right? This is
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  just kind of under the radar. But I'm here to
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  tell you, this is huge. I mean, it's big news.
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  Which, by the way, I'd like to step back and
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  say, number one, thank you for helping us get
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  into a fixed bridge. Yeah, fixed bridge. When
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  it happened, we were like, oh my god, 5 .99,
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  this is so expensive. And now we're like, 5 .99?
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  Heck, yeah. Where's that halo? Right? But it's,
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  I'm just going to say that there are plenty of
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  people out there. There's plenty of sponsors
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  out there that are going to be dead set with
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  their person at Bracadia or their person here,
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  their person there. And I got a little jaded
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  on my first deal. But then I was like, you know
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  what, this is stupid. Why am I going to limit
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  myself and try and figure out how to do this
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  on my own? Because I don't have the kind of knowledge.
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  that someone that's been in this business for
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  five, 10, 15 years is gonna have. And I understood
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  that in other places. Why wasn't I understanding
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  it in the lone world? And I don't know. But one
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  of the best moves we made was going with somebody
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  and going with the company that had that experience
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  and had that knowledge and was able to say, hey,
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  yeah, so we're not gonna be able to do this,
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  but here's X, Y, Z, A, B, C, double A's, B's,
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  C's, you know, here's all these other options
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  you have. you know, let us help you. It was kind
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  of like quit being at AESS and let us help you.
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  That's right. That's how that goes. Yeah, I mean,
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  it is, it's just you want to find your people.
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  And it is a trust. And at the end of the day,
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  it's about, you've spent a lot of time over the
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  last year trying to find the right deal. It's
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  not about the quarter percent. It's not about,
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  it's about who is gonna take care of you on this
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  one and the deals down the road. And it's gonna
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  be who else is going to, who are they going to
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  bring to your team? Angel, did someone come and
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  invest in your deal? Did I present an investor
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  to your deal? Well, I mean, like, so it's a five
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  or six B, so not really. But there are those
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  introductions that happen. And so we had a fund
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  that came to us and they were a substantial amount
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  of money. And where there's some introductions
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  made 100 percent. Why are those introductions
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  made? Because people build trust. And one of
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  the things that I would really say about me and
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  Jason, or Jason and I, let me get grammatically
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  correct. Right. Is we are who we are, whether
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  that zoom or in a face to face meetup or at a
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  conference or in a summit, it doesn't matter.
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  We are who we are and we like to deal with people
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  that are the same way. And we rely a lot on those
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  gut feels and we rely a lot on those more than
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  a handshake, more than a handshake relationships.
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  And I would just say that if you're out there
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  and you've got some gut feeling at somebody that
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  you're like, oh, this doesn't feel right, do
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  you trust your gut and really focus on the relationships
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  that you feel like you can rely on, you can trust
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  in. Because one of the things that I kept falling
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  back on, and Julianne, you remember this, it
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  was we're going to make it through this first
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  deal because there's too many people in our network
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  that want to see us succeed. That they're not
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  going to let us fail. And I would also say that,
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  you know, just don't be afraid to tell the world
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  what your problems are and to tell the world
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  what you're facing. There's going to be people
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  on your team that are like, oh my God, please
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  shut up. People told me that. But when I get
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  stressed, the way I deal with it is I talk. And
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  we got so many investors that were like, you're
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  so transparent. I love how transparent you are.
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  And it was really funny because I went back to
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  some of these other people and I was like, you
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  told me not to talk. You told me not to share
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  what I was going through. But we got three, four,
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  five investors because of that transparency.
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  So don't be afraid of sharing your fears. Don't
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  be afraid of sharing what you're going through
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  because there are people out there that eat that
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  up. They want to know that you're going to be
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  transparent. They want to know that you're going
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  to be for real. And they want to know that you're
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  not afraid to be for real. Good stuff. Yeah.
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  So, you know, Julian, thank you for being here.
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  And thank you. My pleasure. Being a part of this
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  conversation. And, you know, it's it's a big
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  deal, guys. You want to have good relationships
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  with everybody you're dealing with. And my mind
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  is still a little blown with this whole. residential
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  thing because I'm just like, holy crud, we got
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  this under control now, which I kind of always
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  knew. But it was now we've got some more backup.
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  So let's go find a deal. No, for real. But I'm
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  telling you guys, if I didn't have the relationship
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  or if Jason and I didn't have the relationship
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  that we do with Julianne, I don't think this
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  conversation would just happen. I don't think
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  that this like aha moment would have just occurred
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  because I wouldn't have gotten that information
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  from any other method. I mean, who's going to
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  be talking about this stuff? It's going to have
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  to be in a situation like this. So I am first
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  off on my balloon. So I'm a little disconnected
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  because I'm like thinking through this. Like,
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  how do I make this work? But I'm super excited.
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  And again, thank you for being here and thank
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  you for sharing. all the information all the
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  knowledge and everything you've shared with us
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  today and guys this is a great group you know
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  if you're wanting to get your deals done and
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  you're wanting somebody that's going to help
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  you fight to find an amazing loan product um
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  they fought for us so anyway i don't know if
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  you want to add to that or not it's a If you
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  don't, I would just say, you know, guys, there
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  is a stealthy way to get in on the VIP side so
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  you can be a part of the live action. And there's
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  plenty of QR codes. There's plenty of links.
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  You're probably going to want to get a subscription
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  because that's how you're going to get in. But
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  other than that, there's a ton of information
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  over here. And until next time, have a great
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  day. And I look forward to seeing you again.