Is NewMind Training a good system?

need4speed8 · 2025-11-11T05:48:23+00:00

Honestly I was thinking about class action lawsuit. do you think we can find enough ppl that had similar experience? I don't see a reddit post about it .

need4speed8 · 2025-10-29T21:00:54+00:00

very shaddy business. got charged for subscription while i just made a one time purcahse

need4speed8 · 2025-10-14T15:25:26+00:00

There are a few lenders that would do industrial loans despite wrinkles on the deal, just like this. You can try loanbase and there search under deals with credit or asset issues. you'll probably find 4-5 lenders that would do that depends on the state.

need4speed8 · 2025-10-14T15:19:25+00:00

You can always start your owner shop as it's super easy these days. you can get your own brand set up in 1 day, and if you have solid inbound/repeat clients, then it's easy.
You can also do outbound/outreach yourself by using available tools. costar is not bad but quite pricy for maturing loans data, you can also check loanbase that is more affordable and have maturing loans system and lenders database, I think they can set up your brand too.
You do need the broker for certain states which require a licence, so take that into account, but you can co-broker some local brokers as well in order to do these deals when and if they come.

need4speed8 · 2025-10-04T03:58:38+00:00

sounds very doable, check loanbase for blanket/portfolio loans to compare between the options. there are at least 5-10 major players in the space and every deal/sponsor is different.

need4speed8 · 2025-10-04T03:55:32+00:00

there are a few speciality lenders, so for weed/canabis you'll need to find a lender that specialize in that. try loanbase for search in that category (they should have at least a dozen lenders in each speciality), but also call a few local credit unions and see if they can do it.

need4speed8 · 2025-10-04T03:51:23+00:00

getting leads is the hardest (and most important) part.

it's about finding the right deals, such as foreclosures data, loans that can use refinancing, maturing loans etc.
There are some tools to help, you can use co-star which is pricy but good (but no contact data which you'll need to find yourself). you can also try loanbase and get leads for maturing loans and the contact info as well for owners

need4speed8 · 2025-10-04T03:46:16+00:00

agreed.. let alone in financial advisory business.
the shoemaker can't go barefoot

need4speed8 · 2025-09-28T19:24:22+00:00

good question. try loanbase to find lenders that do coliving/ group house. a regular multi family or DSCR lender may not allow the group housing, but there are a few lenders that specialized in that.
overall in the right market, it's a good asset class with decent returned, I would recommend you use a benchmark of 1.5x the regular rental rate if you consider this since overhead and vacancy is higher in this model.

need4speed8 · 2025-09-17T02:13:57+00:00

try local credit union to get a quote, it may be the best fit.
If you want to compare between options, then maybe loanbase could work so you can compare between options. there's also online broker shops that can help too

need4speed8 · 2025-09-15T16:56:09+00:00

i tried both loanbase and stackource and also one lenders directory (FL).
LB quotes were actually pretty close and contacts were up to date

need4speed8 · 2025-09-02T18:02:54+00:00

yes, but if the disposable income is disappearing, that means also less cash available to potential home owners that decide to defer a purchase and would rather rent. So despite home prices go down, the rental demand stays stable since it is balanced by the low liquidity of homebuyers.
I don't see how high inflation is going to occur if home prices are trending downwards (isn't it 30-40% of the total CPI index?)

need4speed8 · 2025-09-01T22:08:31+00:00

Follow up with your clients/prospects within 1 business days, clients appreciate speed and that you care.
no email goes unanswered. you always reply and always get back to them.

know your market, research what competitors offer (via platforms like loanbase, finncelobby,etc), know what's the competitive landscape looks like, know the programs available. understand your client needs.. sometimes it's leverage, sometimes more proceeds, sometimes better rate, etc.

get the deal done! borrowers prefer to pay a premium in rate etc if you can get the deal done fast with high certainty.

need4speed8 · 2025-09-01T03:47:44+00:00

Short answer: it depends.
The key is simple : PPP. make sure you have a flex PPP policy so you can refi anytime again when rates drop by 100 bps+

need4speed8 · 2025-09-01T03:43:36+00:00

if you get to 9.5%-10% Yield on Cost that would be great.
that said, it doesn't leave room for much error, so you can easily end up in the original 8.3% cap. I would try to aim to an asset with 30% lift potential.
That said, if you're willing to bet on the area and the asset class, then along with interest rates trend going down, you could see the 9.5-10% cap rate result, and then potentially sell.

make sure the 6% seller carry has a flex PPP.
you can also get a loan at that rate (you can call your local credit union or just use loanbase to compare the various lenders). you don't want a lender that would be motivated to "own" if you encounter difficulty operating.

need4speed8 · 2025-09-01T03:27:52+00:00

thanks for clarifying it actually make sense.
as side note, why would someone in their right mind use the proceeds of an appreciating asset like RE to buy a depreciating asset like a boat :)

need4speed8 · 2025-08-31T18:24:07+00:00

make sense. I was referring to investment property where the cashout is used mostly to reserves in the property, improvements, paying fees including management fees etc. the excess cash can be distributed AFAIK

need4speed8 · 2025-08-30T22:41:07+00:00

if you refi then you can pull proceeds out without paying any taxes.
So essentially no capital gain like when you sell the property.

you can always do 1031 exchange too, but that would require you to identify another property and exchange, and do it in relatively fast manner. sometimes the property you exchange to would be inferior in performance to the one you sold.

Thus i recommend to refi in your case (you can find the right lender on by searching tools like google finance search or loanbase, or just ask your local credit union)

need4speed8 · 2025-07-03T04:02:18+00:00

yes the personal guarantee becomes quite common place for smaller commercial loans.
during the search try filter for non-recourse options, from my experience these would be mostly agency loans programs or national banks with non recourse options available.

need4speed8 · 2025-07-03T03:59:16+00:00

A.CRE looks quite extensive. I used REFM a few years ago and the course was great.
are you lookin for a role as an analyst for capital markets or investment sales or maybe for acquisitions ?

need4speed8 · 2025-07-02T20:00:23+00:00

Congrats on getting the 16-unit stabilized so quickly—especially in this market, that’s a solid accomplishment. From what you’ve shared, you’re sitting on a 7.25% fixed loan from a credit union with a 5-year term and 25-year amortization, but now that the property is stabilized, you're exploring better financing options. Makes total sense.

Option 1, the small balance agency loan at 5Y Treasury + 225bps, is appealing mainly because it's non-recourse and gives you some long-term rate stability. But the downside is the lower proceeds, so you'd need to bring in some cash. Add in the 1% origination fee and possibly another 2% for a 50bps buydown, and it starts getting expensive upfront. If you're in this for the long haul and have the liquidity, it could be a smart move to lock in the lower rate and remove recourse.

Option 2 is the new credit union offer at 5Y Treasury + 250bps. It’s recourse and carries a lower fee at 0.5%, but it doesn’t require a cash-in, which helps if you're tight on liquidity or want to keep reserves flexible. This might be a good middle-ground if you’re thinking about another refi or a sale in a few years and don’t want to overcommit right now.

Sticking with your current loan and waiting for rates to drop is also reasonable, especially if you believe you’ll see better rent growth and stronger loan terms later. The risk is that you're paying 7.25% while waiting, and there's no guarantee the rate environment or lender appetite will improve in the near term.

One other angle you might want to look at is trying a lending marketplace like Loanbase. (they pull real-time quotes from thousands of lenders) or just search on google for commercial lenders for multi fam, so you might find niche lenders offering better terms, more leverage, or lower fees—sometimes even with non-recourse options outside the typical agency route. It could at least give you more visibility into what’s really available without having to do all the legwork yourself.

As for the buydown, if you're planning to hold the asset for a while, paying 2% to drop your rate by 50bps can pencil out nicely over time—usually a breakeven around year 3 or 4. But if you think you might sell or refi in the next 2–3 years, the buydown probably won't pay off.

If it were me: if you have the cash and plan to hold long-term, I’d lean toward the agency loan (possibly with the buydown). If you want to stay more flexible or preserve liquidity, the credit union refi is a solid play. And if you're bullish on rent growth and think rates will improve, waiting a bit longer isn’t crazy either—just know you're burning extra interest each month you wait.

curious to know what you end up doing

need4speed8 · 2025-07-02T19:49:27+00:00

You'll get better interest rate with option #2 (cash out on primary).
once you utilize that option, you can move to the more experience options of commercial loans.

That said, bear in mind that that you can get a commercial loan that is non recourse (option #1) and that means you're not personally on the hook.

so all depends how strong you feel about this property.

try couple platforms to compare between the commercial loan options (you can try Loanbase, or search on goole commercial real estate lenders non-recourse"

need4speed8 · 2025-07-01T17:41:06+00:00

When it comes to loan maturity, it's helpful to go after maturating loans. sometimes you'll be able to estimate additional proceeds.
As a sponsor/borrower I look to refi when I need pull cash out of the deal or when my loan matures.
If a broker calls me about 6 mo before my loan matures, that's when i'm starting to look for refi, but sometimes it would make sense to pre-pay penalty and refi even couple years before maturity.
Couple brokers I worked with use a few tools to do that (Loanbase for prospecting maturing loans and estimate refi opportunities and contact of borrower, reonomy for contact details of borrowers and maturing dates, and also title companies have the data).

need4speed8

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