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We educate investors and potential investors on the in's and out's of investing in rental property. We focus on residential and multifamily investing, but include commerical, storage, mobile home parks, and more. We interview industry experts on tax strategies, property management, vendor selection, syndications, capex, and more.
Being able to figure out where your debt is on any given piece quickly can help you determine whether or not you need to move on from a deal or if you wanna dive a little bit deeper. Speed and ease, again, being one of the core competencies that we work out of is an incredibly important part of what we do. And it's something that we certainly take very seriously as being an advisor to investors throughout their entire journey.
Nicholas Cook:Hey investors, welcome to the Retire on Rentals podcast. I'm your host, Nicholas Cook. And in this show, we explore how to optimize real estate investing, create passive income, discuss operational tactics, and ways you and your family can retire on rental income. If you wanna invest in real estate or currently do, then this podcast is for you. Alright.
Nicholas Cook:And, welcome to an episode of retire on rentals where we cover topics about real estate investing, creating passive income, and helping you and your family retire on rental income. Today's guest is Josh Heinz, a VP over here at LendingOne. Josh, welcome to the show. Thanks for joining us. I know we've got some people who are, you know, very interested in learning about what tools LendingOne offers and how they can figure out how to work together with you and your team to purchase properties or flip properties and things like that.
Nicholas Cook:So thanks for coming on.
Josh Heintz:Yeah, thanks so much for having me. Love to jump in and talk about real estate and real estate investing.
Nicholas Cook:Excellent, excellent. And how long have you been with Lending One? I think that's something that you joined somewhat recently, like in the last year. Does that sound about right?
Josh Heintz:Yeah, so I've been with Lending One now right at around a year and a half.
Nicholas Cook:Okay, excellent, excellent. And you know, one of the things that, you know, people oftentimes forget about is the financing side until they've made an offer. So, one of the things that I've learned being in real estate, is that building a relationship with a lender in advance, getting to know them, kind of understanding, you know, what kind of products you guys offer, what sort of underwriting you do. Doing that in advance can certainly be helpful. So maybe you could explain a little bit to the audience about, you know, why are people working with you with Lending One versus, you know, a bank or a credit union?
Nicholas Cook:Like what kind of sets you guys apart and makes you more investor friendly?
Josh Heintz:Yes, that's a great question. So, everybody's real estate investment journey is different. Where they start is different. Their goals are different. What they see as being success is ultimately different.
Josh Heintz:And so the first thing that I would say is, there is a like your utility drawer at your house, there's gonna be a lot of things in there, right? You're gonna have duct tape and you're gonna have a calculator and you're gonna have a screwdriver. These are all gonna be things that you might need to pull out at any given time to deal with whatever the issue is that you have at hand. And so it's very similar when it comes to financing for real estate investment properties. And so there's typically a couple of different buckets of financial tools that people can use when they wanna finance an investment property.
Josh Heintz:Most people when they think about buying their first rental, they're gonna think about their local bank, right? I know Joe at Community Bank X on 123 Main Street, right? They're gonna go and they're gonna talk to him or her about seeing what it's like to invest through a traditional lender. Credit union is the same thing. They provide a great local flavor and they're a great option for people, especially people that are beginning their investment journey.
Josh Heintz:They may only have their primary home and so their debt to income ratio has not been maxed out yet. There's still an opportunity for them, especially if they're a high W2 earner, there's an opportunity for them to go in and work with a traditional bank. And then you've got on the other side of that for people who struggle with typical qualifications. A lot of times we see this from people who are doing flips where traditional banks, they're not so comfortable with going in and buying a very distressed property and turn around and flipping them. So they'll go typically with what in the finance world and real estate we refer to as hard money.
Josh Heintz:And so hard money is typically going to be a high net worth or it's going to be a local family firm that is just looking to deploy. They might have $1.05, $1,020,000,000 that's sitting on the sidelines that they wanna start getting return on. And they're hyper focused in the market. So they may be there in your existing city. And so they know where 123 Main Street is when you talk about that investment property that you wanna buy.
Josh Heintz:They have a lot of tribal knowledge about that area and about that property and they can feel comfortable very quickly turning around money. And so those are typically the two worlds that people think about. What they don't often understand is there's this very niche world of private lending that a lot of people associate with hard money, but it's actually different. And one of the things that makes us a little bit different or one of the reasons that people may choose to use us is because we have the ability to carry forward in somebody's journey kind of regardless of where they are. If you're just starting out in your real estate journey, we can help there.
Josh Heintz:So what we consider kind of the the small mom and pop retail investor, they might want one or two rentals. We work with people that do that. We also work with people that are moving into the professional investor realm where it's their full time job now. They're grinding day in, out looking for a property, figuring out how to renovate it. If they wanna hold it, if they wanna flip it.
Josh Heintz:So we work with people there and then all the way up to institutional investors. So we're talking about people that are out, they're buying build for rent communities, a 200 single family homes at a time. We can carry through with somebody's journey kind of regardless of where they are.
Nicholas Cook:Okay, and you know, a lot of times, obviously the difference between conventional money and hard money, one is speed, right? How quickly they can deploy the capital, which is, you know, you're trying to flip a property sometimes can be the difference between getting a deal and not. The other one is cost, right? So you're gonna have higher points on the front end, the back end rate's gonna be higher. Do you guys position yourself as somebody that's kind of like in the middle range of that?
Nicholas Cook:Like in terms of speed and pricing compared to hard money? Are you guys more on the conventional side? Like how would you describe, you know, essentially the makeup of your lending?
Josh Heintz:Yeah. So we really are kind of sandwiched right there in the middle. You've got hard money that typically is going to be much higher on points because look at the end of the day, anybody who's deploying capital, there's going to be inherent risk associated with this. And so banks and credit unions and commercial firms have a way of hedging that risk. And so do smaller hard money guys and the way that the hard money guys are hedging their bets is they're saying, Hey, I'm gonna hit you with some points on the front end.
Josh Heintz:So if this does go south, I'm gonna have the asset as a collateral but I've also gotten a lot upfront. And so whereas banks are gonna be less so on the front end but they're gonna give you a, it's a long arduous journey. If you're an investor out there and you ever tried to use your traditional bank to go and buy investment property certainly one that's distressed then you know how long that process can take. And so we land really right in the middle. We're going to be cheaper on points than what you're gonna get with a hard money person.
Josh Heintz:We're gonna be way more investor friendly than what you're gonna find with a bank because one of the things you ask kind of what sets us apart. We don't loan on owner occupied properties. So if you come to us and you wanna buy a primary home for yourself, we don't do that. So we only loan on real estate investment properties and we only loan to real estate investors. And then a step further, what makes us even more unique is we're what's referred to as a business purpose only lender.
Josh Heintz:And so what that means is we will not close on a property in an individual's name. We will only close on a property in the name of an entity. So an LLC, trust, S corp, C corp, etcetera. So those are some things that really differentiate us. Basically, one of the things that when people ask us about how we differ from hard money and local banks is we move at the speed of hard money.
Josh Heintz:One of our core identities is speed and ease within our company. So that's essential to the way that we operate because we understand investors need to move quickly but we're typically going to be cheaper than what you're gonna get from a hard money person. We're gonna move at the same speed as hard money but with more of rates and terms similar to what you would see at a bank.
Nicholas Cook:Okay, great. Yeah, and one of the things you touched on, I've worked with hard money lenders before for flipping houses and stuff like that. And you touched on the fact that one of their you know, strengths is oftentimes, you know, they have an intimate knowledge of the environment they're lending in, They're local. But one of the downsides to hard money relative to that is one is, you know, if you're investing in more than one market, right? But the other thing too, which can happen and people don't think about is, can run out of capital, right?
Nicholas Cook:They can say, Hey, I've committed all of my capital for this, you know, quarter or next quarter. You know, with something like Lending One and you guys, I mean, it sounds like, one, could you just talk a little bit about where you lend or maybe where you don't lend if that's easier? And then also, you know, are you guys have enough capital to really commit to a large market?
Josh Heintz:Yeah, that's a great question and an important point. So it is easier to say where we don't lend. So currently we're not lending in three different states. So the states we don't lend in are North Dakota, South Dakota and Alaska. Okay.
Josh Heintz:The primary purpose behind that is more so population density than anything. I mean, in North and South Dakota, you typically might have more cows than people. And so that's a little bit of a challenge and a little bit of the same in Alaska. There's also some regulatory issues in some of those areas as well. But really in any of the other 47 states so long as they're in a somewhat reasonably populated area.
Josh Heintz:So the only time that we really wind up with an issue around being able to fund a rental is if it's in an extremely rural part of the country. So if you're in a town of a population of 800 people, we probably aren't going to be able to lend there mostly because there's not available data to show us what the rentals or the investment properties in that area, how they've been able to perform. So generally speaking, when we talk about primary markets, when you talk about secondary markets and even tertiary markets, we loan in the majority of those across The United States. But there are occasionally some, there are some carve outs where if you're way, way off the grid, then we wouldn't have the ability to loan there. But generally speaking, 47 states, any major metro, secondary market, there's no issues in those.
Nicholas Cook:Got it, okay. Well that's great. And in terms of just resources, know, your guys' ability to lend, I mean you guys, you know, I mean everyone's got goals on how much capital they want to deploy, but believe it or not, we've seen this with hard money. We also saw it with a construction lender. We were doing a construction project where we put up 55 units and our construction lender had issues, you know, basically funding draws at certain times because they had a credit facility that got called.
Nicholas Cook:So it's kind of a weird messy situation. This all happened a few years back, but it's just something that's at the forefront of my mind. When you guys are out there, given the fact that you're marketing to such a large geographical area, maybe you could talk a little bit about sources of capital, or just in terms of, you know, how you compare and why people shouldn't be worried about that.
Josh Heintz:Yeah, no, that's a great point. So the majority of, again, hard money individuals that you're talking about, have a pool of funds, right? And so what you're talking about is when if somebody's got $10,000,000 in available capital they have to deploy and they're the primary hard money guy in any given investment market as people come to them and they have deals on the table, they're not gonna say usually, hey, I don't have that because they never know, real estate deals, they're coming and going, they're falling through all the time. So they're not going to commit capital until there's a purchase agreement in place and they have the ability to deploy that capital. Well, similarly with a payback period, people are typically trying to get that money back out as quickly as possible because it's usually relatively expensive.
Josh Heintz:So that hard money lender is always waiting on this rotating basis of money that's coming in and going out. And if they get stuck with a couple of deals, they may not have those available funds. And that is a huge challenge for real estate investors, but that's where us being the lender comes into play. And so we're not a broker, we're not going out and trying to do deals for other people, we are the lender. And so what that means is we go out to these very, very large banking institutions and we take down warehouse lines of credit from them to turn around and deploy.
Josh Heintz:So the same people basically that where you've got Wells Fargo that's going out and getting money or if you've got these other lenders that are going out and getting money, we're going to the same large institutions on Wall Street to pull that capital down. And then we turn around and loan that out. So there is never any lack of available capital for us to pull from to be able to fund these deals. We've never had an issue being able to fund any investment for any of our lenders. And we have thousands of our investors that come back to us every year for many, many reasons.
Josh Heintz:But the assurance of available capital is certainly a primary concern for investors and we can fit that.
Nicholas Cook:Great. And I do wanna talk about the different types of loans you guys do and that because ultimately that's really what caught my eye and what really set you apart when I first kind of learned about Linting One. But before we get into the different loan types you offer, which again, I think is gonna be pretty important for anybody who's listening, is general underwriting requirements, right? Is this, are you, you talked about working with a small investor to institutional investors, but you know, and you talked about debt to income and so forth, but what about, and I know this might vary from loan product to loan product, things like loan to value ratio, but what are some general underwriting requirements? Is this something where people have to have a certain size balance sheet?
Nicholas Cook:Do they have to own rental property already? Those kind of things. Maybe you could give kind of like a high level view. And again, we're obviously not going to hold you to any of this cause I know it moves around based on the product, but maybe some guidelines for people who are thinking about, hey, would Lending One be a good partner for me?
Josh Heintz:Yeah, so the thing more so than anything, the one thing to keep in mind is we are an asset based lender. Lender. So we are not really making decisions. So one, as I mentioned before, we're a business purpose only lender which means that we're not closing in the name of an individual. So one of the huge advantage, people that love working with us is because a lot of people in real estate, they're very asset rich and very cash flow poor.
Josh Heintz:And so they're not gonna have massive W-two income. And if you're going and you're trying to buy millions of dollars worth of real estate in certain instances and you don't have a high W-two income, that can be a problem. But for us, it fits very well because we don't care about your W-two income. We don't check your tax returns. That's not of importance to us because we're lending always based on the asset itself.
Josh Heintz:And so if you were to look at a fix and flip loan, what we're going to look at is the property that you're buying, are you buying it in a range where you can make that purchase, fund the rehab and then stay within a certain parameter of the after repair value once all that is done. And so that's what we get assurance from is knowing that you're in that deal well enough to where you're abating a lot of the risk, right? So it's based on the assets. Similarly on our thirty year fixed rate products, it's based off of that property's ability to cash flow. So that's where it comes in.
Josh Heintz:We're a DSCR lender. DSCR standing for debt service coverage ratio. I'm sure a lot of your listeners are familiar with. And so we look at the rent if it's currently rented. If it's going to be rented, we look at the projected rent.
Josh Heintz:And then we're gonna take that rental income and we're gonna divide it over the pity, the principal, interest, taxes and insurance. We don't factor into our coverage ratio. We don't factor in things like management fees, vacancy rates, maintenance fees. We're simply looking at the pity. And so the rent over the principal interest, taxes and insurance.
Josh Heintz:And so long as that meets a minimum coverage of one times, then we could be able to loan on that property. So that's where it comes in. It depends on your FICO. So coming back to kind of what matters, right? When we're looking at the guidelines, asset itself is step one.
Josh Heintz:So is the asset going to perform well? Step one. The second is even though we close in the name of an entity, there is a personal guarantor on every loan. And so the personal guarantor, the FICO score of that personal guarantor is also of importance. So those are the two primary things that are going to dictate whether or not we're going to be able to loan and then what that rate may look like depending on the answer to those questions.
Nicholas Cook:Got it, got it. And so, when it comes to FICO, mean, you guys have like a minimum or is it like a sliding scale that influences rate? How does that typically work?
Josh Heintz:Yeah, it's a For us to be able to work with you, you've got to have a minimum six sixty FICO score, which the overwhelming majority of people do.
Nicholas Cook:Yeah. I would think that if your FICO is below that, that might, investing in real estate may not be your first immediate priority. Right. It varies, but
Josh Heintz:And we certainly run across issues. Look, I mean, we talk to people all the time that, you know, if you're following something like Credit Karma, you know, or, you know, Credit Sesame, these are not tools that are accurate. Right? And so we have a lot of people that say, Hey, my Credit Karma is July and then somehow we run it in at 06/25 and they've got a ton of credit card debt that's been maxed out because they're working on a real estate project. Had to go and they had to put a sink and floors on their credit card.
Josh Heintz:And so when they turn around and get that paid off, rate will bump up, is, or their score will bump up, which is great. So we track all of that. We can work with people, but $6.60 is kind of the barrier to entry for us. So if you're in the mid to low 6 hundreds, once that comes up, we certainly wanna be able to work with you, but that's kind of the bare bones entry point.
Nicholas Cook:Yeah, that makes sense. And one of the things that comes to mind, especially with the way that you guys are underwriting these, you're looking at them from the debt service coverage ratio, you're underwriting the asset itself. I mean, that takes a lot of market knowledge and access to a lot of information. I know sometimes, I've seen in the past with title companies as a way to generate relationships with realtors and things like that, they'll provide resources or tools. Given the fact that Lending One must have some tools that you guys are using obviously in house to underwrite these deals, Do you have any tools or resources for investors to help people kind of, you know, obtain some of the knowledge you have, help them better underwrite deals before they bring them to you, or yeah, I mean, you have anything that you guys are offering?
Josh Heintz:Yeah, that's a great question. So we do, so through our partners, we provide a lot of that sort of day. So we are one of the larger purchasers of single family investment rental related data in the country. So are, Adam and CoreLogic are basically the two primary data providers in the country involving these different real estate investment properties. And so there are a lot of third party companies that take those tools and they have their own proprietary method to go in and crunch the numbers and analyze it.
Josh Heintz:And you can imagine how incredibly important it is for us to be up on all of that information as well because we're going to turn around and lending on these using a lot of that data that is existing. So there are a number of different tools. There are none that we have necessarily upfront where we just give it away. However, if you go to our website, we do have a, it's a, the name escapes me right now. But as you go through, if you're evaluating a property, you can do it on our website.
Josh Heintz:And then we'll give you an idea. We will use that data to give you an idea of what we see as the ARV on a flip that you're looking at or what the projected market rent would be on a potential rental that you're looking to buy. You can certainly come over to lendingone.com and we have resources that are native to our site that they can go on and look at that information. We don't have anything necessarily in an outbound way that we send the people.
Nicholas Cook:Okay. Yeah, that makes sense. And one of the questions I just have, because you know, it's something that people like to know about lenders is, is this something that you guys when you make these loans, you guys servicing these loans, or you guys sell them off and package them or is this something, you know, there's portfolio lenders, then there's, you know, obviously people would turn around and sell them on the secondary market.
Josh Heintz:Right, for sure. So we do both. We do balance sheet some of the loans that we underwrite. So we do hold some but the majority we do turn around typically in about a ninety day window, we turn around and sell back to one of the capital market participants. So the upside of that is we're going to use in almost every scenario, we're going to use the same servicer that the capital market participant that we're using is going to use as well.
Josh Heintz:So when we set up the servicing, when that loan moves to that capital market participant that purchases that loan, the servicer will remain the same in almost all scenarios.
Nicholas Cook:Oh, wow. Okay. Well, that's great. So let's talk a little bit about the loan types you have. Obviously, this is probably gonna be have to be more high level just given the fact that there's a lot of intricacies, but maybe you can give some bullet points about each one of these.
Nicholas Cook:And I just want people to understand what products you guys offer because again, this was something that stood out. So obviously you have them. Of your fundamental flagship products is for buying rentals. Right? When somebody wants to purchase a traditional rental property.
Nicholas Cook:You've also got fix and flip. So people who, you know, wanna get in for the short term and turn around and and liquidate that asset. One of the ones I was surprised of is you have fix and rent, which is actually a pretty great product. I'm glad that exists. There's a lot of people who kinda get stuck in that situation using hard money to do the purchase and fix, and then they try to put on a traditional rental loan, but this looks like that's maybe potentially wrapped into one.
Nicholas Cook:You've got new construction, so people want to build a house or a fourplex or something like that. And then you touched on this earlier, you know, people buying tracks of build to rent homes, so like portfolio lending. Maybe we could kind of start with the traditional rental loan product, give some highlights, and then we'll just kind of roll through these one by one, just so people have an idea of what these things are all about.
Josh Heintz:Yeah, certainly. So our flagship product, as we would probably say, is our DSCR loan. So we're one of, if not the largest DSCR lender in the country. We were one of the pioneers in this space in general. If you backtrack twenty years, there was not a nationwide private lender that was underwriting DSCR loans.
Josh Heintz:Like they just
Nicholas Cook:did this.
Josh Heintz:And so about ten years ago is when our CEO and co founder began the process of seeing, is there an appetite for this type of loan product in the secondary market? Because there were so many people, we really have targeted the average person that can really utilize our loan product to somebody who already has bought their first one or two rental properties. Now we'll work with somebody who owns no rental properties. As long as they're a homeowner, they own their existing home, then we can begin them on their journey. But for most people, they come to us after they own one or two because now they're going to their bank and they're saying, hey, your DTI is maxed out.
Josh Heintz:You need to find another option. Extremely high W2 earners might can get all the way to 10, but then there's a 10 unit cap with a traditional product. So they've eventually got to find an alternative to financing either way, but it's typically about number three or four where people come to us. And what we realized is there is a huge appetite for a product that is based on the asset and not underwritten based on the person's individual income. And so for us standing that product up was of paramount importance ten years ago and it's only gotten better since then.
Josh Heintz:And the reason that I kind of walked through all of that in the history of it is because over that ten year period, if you look back ten years ago, there was a huge delta between the interest rate you would see from a traditional banker or credit union on that investment property versus what you would see with us right now. And so that gap used to be as much as maybe even one to one and a half percent would be the premium you would pay if you were coming to a national lender like us versus a commercial lender. But over such a long track record, the capital markets have now seen, hey, these types of loans aren't really any risk ier than a typical owner occupied loan. Now if you come to us and talk to us, you're looking at interest rates that are almost exactly identical to what you're going to see. If not oftentimes a little bit less than what you're gonna see if you go and talk to your local banker, your local credit union.
Josh Heintz:And people are perplexed by that. They're saying, Hey, I don't have to put this in my own name. It's not gonna report to my credit. Like how does this even make sense that I could even get it lower? And it's because there's a track record, right?
Josh Heintz:I mean, all capital markets are based on track record. And so the higher the risk when this product was new, it was new, it was riskier. And so the people who are purchasing these wanted a greater guarantee for their risk. But now that we've got such a long track record of performance in this type of loan, then there's more of an appetite for it. But it's a thirty year fixed rate loan and we do have five and seven year arms available but in the interest rate environment right now, those make zero sense at all.
Josh Heintz:They're priced almost exactly the same if not sometimes more than what a guaranteed thirty year rate is. It's all underwritten again based off of the property itself but it's very straightforward. It's a minimum 20% down. And then depending on the only thing that I would say in addition to what you would see at a traditional commercial lender, we would wanna see a certain amount of reserves available in a tappable financial account. So that can be in a brokerage account.
Josh Heintz:It can be in a bank account. It doesn't have to be in the entity's name. And by the way, you don't have to have that entity already set up. You can literally have that entity set up basically immediately before you close. So it doesn't have to be an existing entity that you're buying the property in.
Josh Heintz:It can be set up just before close. But it's a traditional, I mean, it's almost identical to what you would see if you were to go into a commercial lender. Primary difference that we're using the DSCR method versus the DTI method.
Nicholas Cook:Got it, got it. Okay, well that makes sense. Yeah, I mean, it's definitely, you're kind of taking a commercial lending model and applying it to residential is kind of what it seems like a hundred yeah.
Josh Heintz:And one of the primary differences too with us is if you've ever bought an investment property through a commercial lender, either a bank or credit union, you know how long that process can take. Because again, bank and credit unions, they're set up to loan on owner occupied properties, not on investment properties. And because we're only set up to loan on investment properties, our average close time, I think when we look back over all of 2024, so we're obviously in 2025 now. Sure. When we did a three or four quarter look back over 2024, our average time to close on a DSCR thirty year fixed loan was around twenty one days.
Josh Heintz:So we closed these very, very quickly because again, it's all we do. We're not bogged down by owner occupied. All we do with these real estate loans.
Nicholas Cook:Got it, got it. That's interesting. And for any of the loans that you've got where maybe they're indexed in terms of like you've got an adjustable or do you have any products where that you've got a floating rate I imagine for some of the shorter term ones you do? And if so, what what are you typically looking at? Is it like prime or some other index that you're using?
Josh Heintz:So we don't use any floating rate terms on any of our products. So even on the short term, for instance, you bring that up. We interchangeably refer to what we call bridge lending, fix and flip lending, short term, those phrases are all used interchangeably. But typically those are twelve to twenty four month loans and the intention behind them is for the investment of a or for the purchase of an investment property that's going to be renovated to either be sold or to turn around and be rented out. And one of the things that makes us a little bit unique about that is as you mentioned before, a lot of times people will, they'll need to go and purchase a property and then they're maxing out credit cards or they're to go to family to see if they can get the funds to renovate So one of the things that makes us unique is we'll loan up to 90% on the purchase price of an investment property but then we'll also loan a % of the rehab cost.
Josh Heintz:And so the way that this product works is once the purchase is made. So let's just say hypothetically, go in, you find a property you can purchase for a hundred thousand dollars and it's gonna take $50,000 to reno it. What we do is we'll provide up to 90,000 towards the purchase price of that. So you would need to bring 10% down but then what we're gonna do is when that property closes, you're gonna submit a budget sheet that says, hey, these are all the different things that need to be done to get this property to the ARV we think it's going to be. And so we'll look at that budget, we'll review it.
Josh Heintz:And if everything's good, then when that property closes, we'll take that $50,000 and it'll sit in an escrow account. So is, these are based on all of these short term bridge or fix flip loans are based on twelve to twenty four months and it's interest only. So the interest only period, there's no prepayment penalty. So if you can move very, very quickly, great. But that interest only is even further helped by the fact that any of the rehab funds, you're not gonna be charged interest on any of those rehab funds that are sitting in escrow until you draw them down.
Josh Heintz:If you go and you have a big bathroom remodel, you go, you finish the bathroom remodel, you take 8,000 out of that $50,000 rental budget. Now you'll be paying interest on that 8,000 that you've taken out but all of the remaining 42,000 still sitting at escrow is still sitting there interest free. So it's a huge advantage to people that are flipping and they're trying to move quickly and they want to save on as many costs as they can on the interest side. And then something that we do, you mentioned earlier where we bridge these two programs together because some people are out there fixing and flipping and they're flipping them, They're turning them. A lot of people though are doing fixed to rent or they've got the burr that they're wanting to do.
Josh Heintz:And so we've got a product that we've developed that streamlines entire process. And so what we do is we come in, we create a loan. So it still technically has to be two separate loans. So you've got one during the bridge period and the way that the rates on these is you're gonna pay like with any loan, it doesn't matter who you go to. There's always points on every loan or an origination fee.
Josh Heintz:So there's an origination fee on the fix and flip period. And so what we'll do though is if you come to us and say, Hey, I wanna fix this and rent it. What we'll do is we'll put you in a different program where you'll come in and the plan is for that to be a nine month loan that's gonna be converted into a thirty year fixed rate loan at the end of it. So we're gonna take it and convert it. And so what we do is we have to pay off that original loan.
Josh Heintz:So the fix and flip loan where you go in, you purchase it, you rehab, we've gotta pay that loan off and we've gotta transition it then into a thirty year loan. But what we do is we come in on the second loan, we comp the appraisal so you don't have to pay for another appraisal for that part of the process. The origination fees are discounted by 50% and because it's all with one lender we already have all of your documentation. So that's all the faster that we can get to the closing table. And on top of that, we're also gonna go back and we're going to reduce your interest only period during that bridge loan where you're buying and fixing it up.
Josh Heintz:We're gonna reduce that interest rate also for you putting this all in one package together. So it's one thing that we just wanted to streamline. We have so many people that come to us and they say, hey, I don't wanna sell it. I wanna turn it around and rent it. And so quite some time ago we went in and said, you know what, we've got such a demand for this.
Josh Heintz:Let's create a product where we can do all of this seamlessly together. And so we have a lot of people that just absolutely love that product for people who are finding undervalued or value add properties that may or may not be distressed and they're wanting to pull them into their portfolio. It's a great option for those people to save some money on fees because deal costs, right?
Nicholas Cook:Yeah.
Josh Heintz:Deal costs matter. A lot of people don't think enough about them, but I mean, deal costs can make or break the first six, twelve, eighteen, twenty four months of performance that your property is going to see. So we try to be sensitive to that for the people that are doing that business.
Nicholas Cook:Yeah, I mean, that's a fantastic product. I mean, I got started in investing in real estate, you know, back in 02/2005, that did not exist. And yeah, there were a lot of challenges with trying to figure out, you know, do I, especially with fixing and flipping, because sometimes you'd purchase something and then your plan was to flip it, and then you realize this actually might be a great rental. But you know, if you didn't go in with that kind of mindset or have things lined up, it could get a little dicey, especially if you're, you know, parking the money with hard money, which generally speaking, what I've seen with hard money is that they will charge you interest on the full amount that they've allocated to your project, regardless of whether or not you've drawn on it. Now, lending is a little bit different, but in residential, certainly hard money, I've not seen a lender do that before.
Nicholas Cook:So I think that's a, you guys have really built this around what investors want and need from everything you've said in terms of just how you underwrite it and how you guys, you know, treat investors from an interest standpoint and a fee standpoint.
Josh Heintz:Yeah, and the new construction product is very similar to the fix and flip. So for anybody who, because you've also got people who want to build to rent, right? So new construction to flip, right? Very similarly in the same vein, Hey, I'm gonna build this house. Found an infill lot.
Josh Heintz:I wanna build a house. We do loans on that. And then, Hey, I found this infill lot. I wanna build a house and rent it out. Great, we do that too.
Josh Heintz:And so those are some of the things, but the actual process of going through a new construction loan is nearly identical to what the fix and flip process looks like.
Nicholas Cook:Got it. And have you guys run into people, so where I live here over in Portland, Oregon, we've got an urban growth boundary, and so what sometimes is popular is somebody will buy a property that's got, you know, a lot that might be oversized a little bit, and what they'll do is they'll buy the property, divide the lot, you know, basically renovate the renovate the home and sell that. And then they'll build a new house on the new lot. And that's kind of where they're really making their money. Do you guys handle transactions like that?
Nicholas Cook:It's kind of a blend of fixing and flipping and construction.
Josh Heintz:Yeah, for sure. So we get a lot, you know, ADUs are are a big topic of conversation now on the West Coast. You know, California, talked to a lot of people that are looking at that. Yeah. The issue with ADUs that tends to come up is if somebody goes in and they purchase their property on a commercial loan, so they go to their bank and they say, I wanna buy this property.
Josh Heintz:And then they come to us and say, I wanna put an ADU on this existing property. If it's on the same parcel, then there's gonna be an issue with a lender being in second position. And so really the only way for us to go in on that is to re refinance the entire property out and then put them into some type of a fixed to rent product where we're taking a short term period, let them build on that ADU and then we refinance that into a thirty year product. If it's on a separate parcel though, so if somebody comes in, they divide the plot and it's got a separate parcel, then it becomes a more traditional infill, new construction type of look. If somebody comes in and says, Hey, I don't wanna divide it.
Josh Heintz:I've just got a large backyard. I wanna put this ADU on. If they come to us at the time of purchase, then it's a lot simpler. If they can't, like right now we talk to people all of the time that say, Hey, I've got a 3% rate on my home. I've got a big backyard.
Josh Heintz:I know I'm zoned. I can put this ADU on there. We say, Hey, that's great. But the problem is it's the same parcel. If we give you a loan, we're now subordinate to your primary lender and we can't do that.
Josh Heintz:We've gotta be in first position on any loan that we do. So you would have to refinance that entire property. And obviously people that are sitting at sub 5% interest rates aren't so excited about doing that nowadays. It's totally understandable. So yeah, we certainly do it.
Josh Heintz:It's obviously all situation dependent, but we do a ton of those types of things.
Nicholas Cook:Okay, cool. Well, yeah, I definitely wanna unpack a few more of these things here. But before we do that, we're gonna take a quick break for a word from our sponsor, and so we'll be right back. This show is sponsored by Sleep Sound Property Management, one of Portland's largest and top rated management companies that specializes in multifamily and residential real estate. They can help you acquire, operate, protect, and sell or exchange your properties.
Nicholas Cook:If you want to invest in real estate, give them a call or visit them online at sleepsoundpm.com. That's sleepsoundpm.com. Okay, we're back here. Josh, again, thanks for joining us. Just finding a little bit more about some of these loan products.
Nicholas Cook:Again, maybe just touching on some of the underwriting because somebody who's buying a rental property for the first time, or maybe the second or third time, the level of, you know, maybe knowledge, skill, acumen is going to be different than somebody who's buying a track of build for rent homes, right? So is there an experience requirement for any of these loans? Like you said, you've got the traditional rental, the fix flip, the fix and rent, new construction, portfolio lending that you know, how does, how do you kind of gauge that for people who are listening about, you know, if they want to talk to you about, you know, taking down one of your loans for a project?
Josh Heintz:Yeah, that's a great question. So yes, there are experience requirements, but depending. So if somebody, and we kind of take them one by one, For the DSCR loans, so a traditional thirty year fixed rate DSCR loan, somebody comes to us and says, Hey, I don't have experience as an investor but I found a rental, great opportunity that has a tenant that's placed or not placed wherever I wanna buy my first rental. If they come to us, we do have a program for them. Now, the requirements for that is you've gotta have your own primary home.
Josh Heintz:So you've gotta be a homeowner. You have to have paid on your mortgage for the last twelve months without any late payments or penalties. And on top of that, the investment property you're looking at has to be less value than your primary home is. So if your primary home is $400,000 home, you've been paying on it for the last twelve months and your investment property is gonna be $300,000 then we'll certainly look at that. If you do not have a year, if you don't own a primary home and you've never owned an investment property before, we wouldn't be able to work with you from that perspective.
Josh Heintz:But in situations we can. Also, if you've got experience flipping. So let's say that you've never bought a long term rental but you've flipped five houses in the last three years then that is something that we could use as qualification to come in and create a rental on. So the biggest issue we typically run into is more people want to jump into fix and flips than they want to jump into being a landlord. And you can appreciate probably more than anybody with your property management company, what that looks like, right?
Josh Heintz:People are, they're scared. They're little bit tentative to have a tenant in place or something else. So if I wanna get my feet wet into the residential or into the real estate investment space, I'm gonna find me a flip, right? I'm gonna go watch one of the million videos on YouTube. I'm gonna learn how to flip like a pro, right?
Josh Heintz:All that And so we have a lot of people that come to us and wanna start flipping. Well, that is something that we have to have a little bit more experience with. So we cannot be your first opportunity that you come to as a flipper. Now, if you own a lot, if you have a rental portfolio where you own a lot of investment properties, long term rentals and you wanna start flipping, then we'll certainly talk to you about that. But if you have zero real estate investment experience at all and you just wanna start flipping, we will typically require that somebody's done two or three flips in the last year or two to make sure that they're up on what's going on with that because that's just a little bit too risky for us to be kind of the launching off point for a brand new investor in the fix and flip space.
Josh Heintz:So for fix and flips, yes, you do need to have some experience either by owning long term rentals or by having done some flips in the somewhat recent past. And then when it comes to new construction, so if you wanna do a ground up new construction, you need to have experience having done that. So if you've never built a home before, and look, this isn't just us. You go to any lender and say, hey, I've never built a home. There's gonna be pause to that.
Josh Heintz:Now, of the things that we will take into account, let's say that you come to us and you say, Hey, I found a lot that's a nice infill lot. I can build a new home on it but I've never built a home. We can substitute that again, situation dependent. We can substitute that for if you've done heavy rehabs. So if you've come in and if you've bought a $200,000 investment property and you're doing $10,000 rehabs on a $200,000 investment property, that would not be a heavy flip.
Josh Heintz:But if you've bought multiple hundred thousand dollar property and you're putting $50.60, 70,000 into them redoing a lot of things, then we can substitute heavy flip experience for that new construction site.
Nicholas Cook:Got it. Yeah, that makes sense. I mean, it's, there's a lot of moving parts to that kind of stuff. When you're flipping properties, I mean, there's, it always takes longer and more expensive than you expect. You open a wall and you don't know what you're going to find and new construction, especially depending on where you're operating, there's a lot of challenges whether it's with vendors or even just with design review and know, in Portland in particular, it is not easy to build things here.
Nicholas Cook:They make it quite difficult with not just the codes, it's more about just the uncertainty around what edits they wanna make and what changes they wanna that you can't find in writing anywhere, and so it can add add some cost. But
Josh Heintz:Yeah. Yeah,
Nicholas Cook:that makes sense. That makes sense.
Josh Heintz:Yep. And one of the things that I don't wanna lose track of, because I I I don't think we had an opportunity to talk about it in product portion, is and I'm kinda piggyback off this with our portfolio loan.
Nicholas Cook:Yes. Yes. So one of
Josh Heintz:the one of one of the things that does make us extremely unique is our ability to loan on portfolios. And so there are two different sides of portfolio lending. One is a full recourse portfolio lending and the other is non recourse portfolio lending. So typical full recourse portfolio lending is just like a typical DSCR loan. These are thirty year fixed rate loans where you can either take in a new purchase.
Josh Heintz:So if you find seven or eight properties at once that you wanna put into a portfolio for a purchase or if you have over the course of the last five, ten, fifteen years, if you've aggregated a portfolio that you now have equity in that you wanna do a cash out refinance and put all of those into a portfolio, the portfolio simply means it's one underwriting process, it's one origination, it's one loan and it's one payment. The advantage to these are these loans also get a pretty significant rate discount because you're grouping them in and the value of the loan is typically a lot higher. So on the full recourse thirty year fixed rate portfolio loans that we're doing, those do have a minimum standard that we're able to do them at. And you have to have, it's gotta be a minimum of three properties or a minimum of $500,000 in the loan value itself. And then you've gotta be a minimum of 20% down on that as well.
Josh Heintz:25% if it's a cash out refi. So that's on the full recourse. And typically full recourse, we'll do a full recourse portfolio up until it either hits a certain amount of units or once it gets to being $5.7000000, once the portfolio size gets that large, then we're typically gonna be looking at it being a non recourse portfolio. And so with those, our maximum leverage on that changes. We're not gonna go up to 80% leverage on those.
Josh Heintz:We'll only go maximum of 70% leverage on that. But again, it being a non recourse deal, there's some different parameters around that. And we have a specialized group in our firm that handles any deals that come in that might be 50 units, 25,000,000, fantastic. We do them all day every day but those deals are naturally handled a little bit differently than somebody who's coming to buy you know, one single family three, two for 325,000 Sure.
Nicholas Cook:Yeah. Well, that's great. I mean, is a great product too, because sometimes, you know, people who have a portfolio properties when they go to sell, actually want to sell them as a portfolio. They don't want to just sell them as a one off and piecemeal it out. So that's actually a super unique product and great to have.
Nicholas Cook:Especially when you get into places where, you know, there's some markets that just offer really great cash flow. And so it's almost, you know, kind of a no brainer to take over something like that if it meets your metrics. One of the questions I had just since you guys are doing all of these things and you guys are already almost, you know, you're kind of lending like a commercial lender does. It sounds like so far you guys have really kind of focused on the single family market, which is great because there's huge need there. But what about multifamily?
Nicholas Cook:I mean, you know, one of the cases for multifamily is sometimes it's easier to value the asset, right? Because it's got a little bit more conventional format for doing so. Is there a reason you guys aren't doing multifamily? Maybe you could talk a little bit about that.
Josh Heintz:Yeah, so right now we do not currently have a multifamily financial lending product available. And so what we define as multifamily is anything that's parceled at five units or greater. So for us, true single family detached, duplex, triplex, quadplex, all good. Once they are parceled at five units or more, that's where we are not currently active. And look, being out on the West Coast, mean, you see a lot West Coast, Midwest, Texas that has all areas that have a ton of these properties that can be anywhere from five units to 25 units, right?
Nicholas Cook:Some of
Josh Heintz:it like 40 units. And these can be tremendous real estate assets. So it's not that we don't love them and we don't think that they're great, great investment opportunities in that space. It's just for us as we've created a standardized process like you mentioned, it's a different, once you get into multi and there's really different layers of multi, you've got kind of mid size multi that's kind of that five to 50 and then true multifamily, true apartment complexes that might be 50 to 500 units. Both of those categories are really separate and set apart from both from the perspective of available data on And from the underwriting, how you value it is an investment opportunity are all radically different metrics than what are used in the traditional single family market.
Josh Heintz:And so because we just, it's just because what was chosen for us to specialize in at the company's inception many, many years ago. We've just stuck with it. We've stuck in our lane and drilling down being very niche in this space for us is where we've chosen to be. But if you've got something that is in that five to nine space, we're constantly reevaluating our products. And I would not be surprised if we had something in the near future that could help in that five to nine space.
Josh Heintz:So if you're an investor, we can't always help with every deal but we love to talk real estate. So that's why we've got loan advisors. We've got guys that are on my team, we love to just talk real estate. So if anybody's interested in finding out, I would never want to just say no, but as of today, anything five or greater, we don't have a product for that. And it's not for any reason other than that's just not what we specialize in.
Nicholas Cook:Sure. That makes sense. Yeah. So a couple of other questions, which may, these are more just kind of your opinion, because you're on the, you know, you're on the lending side, right? You guys hear a lot about, know, activity in terms of volume, you know, areas, things like that.
Nicholas Cook:You know, kind of coming into 2025, what is your kind of general take on investor sentiment right now? Have you seen or heard things just from through the grapevine about what your clients are thinking about 2025 as an opportunity to invest? Are they, you know, feeling more confident? Or is this something that they're still kind of proceeding with some caution?
Josh Heintz:Yeah, I think everybody to a certain extent is still proceeding with a little bit of caution, but there's certainly been more optimism in the last, I would say three to six months coming into this year. I think right now, here we are towards the February and we've got, there's a new administration in place. People are trying to get a read for what that's gonna look like for single family investors. The expectation is that rates are going to slowly, and this is both my personal account, I'm not speaking for anyone as a but my personal, who we talk to and a lot of the analysts that you'll see are kind of all projecting the same things that rates are going to slowly kinda creep down. Right now they're all sitting around 7%.
Josh Heintz:They'll eventually probably be in the six and a quarter, six and a half by the end of this year. But I think what's more important for investors than necessarily where the rates are today or where they're going is investors just wanna feel like there's not gonna be any surprises around the corner, right? And so investors are now getting to a place over the last couple of years where everybody got into this, the spirit of Christmas year round when rates were hung in the three to 4% place. But now that it's been very different for a long period of time, the higher for longer as the Fed has been calling out, I think investors are starting to feel that now. A lot of people are saying, hey, with inventory that's rising, there's a ton of distressed properties nationwide that have a lot of deferred maintenance on them.
Josh Heintz:You're starting to hear now more and more, I mean, coast to coast literally everywhere about where people are finding more opportunities where we have a large tie into the wholesaler flipper community as would be expected. And so a lot of those individuals are finding opportunities but now the disposition side is getting a little bit harder. So as we start seeing days on market continues to grow literally coast to coast, I mean, the exception of a very, very few markets, I mean, you're now seeing things that are sitting much, much longer than they have been over the last couple of years. And so there's an expectation, I think broadly that there's gonna be some price pressures in various parts of the country. And as that starts to unfold, investors that are ready to move are going to be the ones that are going to be able to make the longest term gains on the opportunities that they see because everybody that's been shell shocked and been waiting around.
Josh Heintz:Well, if you wait around for two more years and you're jumping in when everybody else is, there's really no competitive advantage to that.
Nicholas Cook:Sure.
Josh Heintz:It's why Warren Buffett for a hundred years now has said, hey look, when everybody's running away from the flame, I'm running towards it. It's because you're not always gonna go with the grain but that's typically what we've heard is, it's funny last year everybody was saying survive till '25. That was twenty twenty four's motto everywhere we went, survive till '25. But now everybody's looking forward to really the latter part of this year. I think that we'll see a ton of activity coming in Q3 and Q4 of this calendar year.
Josh Heintz:We're expecting it to be a bellwether opportunity timeframe for the investors that we're working with.
Nicholas Cook:Yeah, and that makes sense. Mean, I think that you hit the nail on the head with, you know, the concerns around uncertainty, right? Because, you know, interest rates, you know, right now even where they are, which is, you know, maybe not people don't love it, but from a historical standpoint, they're actually pretty low. And this is all math at the end of the day, right? You you can figure out, okay, well, what's my payment?
Nicholas Cook:What do I gotta put down and how much should I pay for it? Right? You make your money in real estate when you buy, not when you sell necessarily. And so, I think the uncertainty part is a huge driver because, you know, especially, you know, from a regulatory standpoint, whether that's on the development side or the landlord tenant side, you know, if there's a lot of uncertainty there, can, you know, take something that you set up as, a viable investment and it can suddenly become less viable, especially in single family when you can't spread risk across units. So that makes sense a lot.
Nicholas Cook:Then we're feeling very much the same way that you described about 2025. So it's good hear we're in alignment there. So just a couple kind of questions here. So I have one kind of last formal question, and then a few questions just to kind of get to know Josh here. But the last one is, there anything that I haven't asked you about that you think would be important for investors to know about Lending One?
Josh Heintz:Yeah. I mean, probably the only thing that we it's probably been inferred, but not directly attributed is, unique in our outlook and our perspective of investors more than anything. We see ourselves genuinely as an associate to your success every step of the way. We have a lot of people that came to us as kind of baby investors, right? They had one or two rentals and now we've seen those people their portfolio to own dozens and dozens of homes.
Josh Heintz:And that's a really cool thing because a of people give up. I mean, frankly, a lot of people they might've inherited one property, they might've bought two properties because they thought it a good long term investment strategy. And they've seen that it's reaped rewards and they would like to invest more but then when they go to their bank and the bank tells them, hey, you don't earn enough to warrant getting another loan. Then they just sort of throw their hands up in there and say, Okay, well I don't wanna stretch out my I want good rates on anything that I I'm not gonna stretch out my DTI anymore. And once they find that what we do exist and they begin their real estate investment journey from kind of that mom and pop part time and then they're starting to do it more and more.
Josh Heintz:One of the great things about us is when you work with us, you're not going to call in and just talk to some random guy. You're gonna be assigned to a loan advisor. And that loan advisor is really there to do that, to advise you and tell you what a deal looks like. We're not just turn and burn, right? We're not looking to do today's deal.
Josh Heintz:We wanna do the next five to 10 deals with you. And so a lot of times that looks like us sharing some hard truths about something that's just right now isn't a good opportunity for this because we really do wanna be a part of your overall investment journey and people love it. There's a guy that I've recently connected with that when we connected him in, he's been an investor for twenty years and never knew that this type of private lending product existed. And so now his loan advisor, he's got a cell phone number. And so when he sees a deal, he literally, he texts them the address and then five minutes later he gets a quote back.
Josh Heintz:This is what this property would look like. Having that type of turnaround for a real estate investor when a huge, huge component of whether or not you are profitable or successful as an investor depends on your capital stack. Being able to figure out where your debt is on any given piece quickly can help you determine whether or not you need to move on from a deal or if you wanna dive a little bit deeper. And so being quick, speed and ease again being one of the core competencies that we work out of is an incredibly important part of what we do. And it's something that we certainly take very seriously as being an advisor to investors throughout their entire journey, whether you're, you know, buying one a year or if you're buying 100 a year, we can partner with you in some kind of way.
Nicholas Cook:Awesome. Yeah, no, that's great to know. And I mean, I think that's, it's evident in the way that you guys have built these products. And again, you know, it's not, you know, speaking to a lender is not necessarily always at the top of my list here, but since you guys were so unique, I felt like you guys would offer tremendous value to our existing clients, to anybody out there who's looking to invest in real estate, because it just, this isn't something that you typically see, and you're not gonna find at your local bank or credit union. So that's, I'm excited about it.
Nicholas Cook:Alright, so we're gonna transition a little bit here. I've got three questions for you, Josh, that are just to help the audience get to know you a little bit more. Okay. If you could have dinner with one person dead or alive, who would it be?
Josh Heintz:Dinner with one person dead or alive. So I would probably, this would probably be different if I gave it a good day or two of the thought.
Nicholas Cook:Sure, Because
Josh Heintz:I'm a huge college basketball fan and because it's just front of my mind right now, Yeah. I would probably wanna have dinner with Rick Pettino who is currently the coach at St. John's. He was the coach at Louisville and at Kentucky. So I am a big Louisville fan.
Josh Heintz:Was born in Louisville, Third generation guy. So I really enjoyed him as a coach but to see somebody who has had tremendous success in profession over multiple, multiple decades and who has been through some self inflicted but through some serious trials and tribulations. I think his story, his drive, his tenacity and his ability to perform well and just be a winner, just a flat out winner everywhere he's ever been is incredibly interesting to me. And so I would love to pick his brain about just those, what it is inside of him that just does not allow him to fail, regardless of what happened.
Nicholas Cook:Sure, yeah. No, that's an amazing skill and talent and I'm sure not easily learned, but that's awesome. Cool. Alright. Well, question two here is whiskey or wine?
Josh Heintz:Oh, whiskey. A %. Not even not even close. So now don't don't get me wrong. I mean, I'm I appreciate a nice a nice cab but yeah for me it's it's gotta be whiskey and I'm not a big drinker either way.
Josh Heintz:I've it's somewhat rare that I drink but if I'm going to drink it's it's certainly going to be whiskey. It's funny. I've actually have a lot of my friends are you know, they're they're you know, bourbon aficionados and so II don't have a nose for it. I mean, I promise you if it was $10 or you know, dollars 200, I'm not going to be able to taste much of the difference but I've gotten to where now I just enjoy the the trying it and trying to pick up the different flavors and notes and and that sort of thing. So that's been, an enjoyable thing that I've actually just gotten into really in the last year or two.
Josh Heintz:But certainly today, if I had to pick one, it would definitely be whiskey.
Nicholas Cook:All right. All right. And then third question here is, you're a hardworking person, you're a driven person. Where does your work ethic come from? Like where did you learn that?
Josh Heintz:Man, what a great question. My my parents so I did not come from much. Right? I mean, I had well, I say that that is wild that's wildly unfair. I came from a lot because my parents always showed up for me.
Josh Heintz:They always loved me. They you know, I really hit the jackpot from what parents should be. But they were always in social causes and they were in more work that was benefiting others than benefiting themselves. And I watched my dad work two, three, four jobs at a time just to put food on the table. I watched my mom pick up extra shifts, working at the beauty counter at the mall, on top of her nine to five just to put food on the table and to buy us Christmas gifts and that sort of thing.
Josh Heintz:And I think seeing that and having an appreciation for there being a direct correlation to feeling fulfilled by giving an honest hard day's work. I think it's a big part of it. And I think another thing is I am just naturally extremely competitive and I just wanna win. It doesn't really matter what that thing is, I just wanna win. And feeling like somebody might be better than me at something is the sort of thing that just, it never sets well.
Josh Heintz:And so I need something to compete against. And so right now, it's about, it really is truthfully right now in this role, it's about educating. It's been mind numbing to me to realize the overwhelming majority of real estate investors have no idea this type of solution exists. And so now it's almost a market share education competition that I have with myself to see how much of the investment community can we educate to a place where they really understand the difference in all of their, all the different ways that they can finance their investment products because I love seeing people win in life. And so that's yeah.
Josh Heintz:That's probably where that comes from is just the type of family that I was raised in, and just whatever inherently in me that just makes me wanna compete and win.
Nicholas Cook:Got it. Yeah. Well, is a excellent answer, Josh. And a good place for us to kind of wrap up here. You know, how can people reach you?
Nicholas Cook:Is there an email or website you want to give out? Obviously, can put some stuff in the show notes, but is there a way you want people to connect with Lending One or you?
Josh Heintz:Yeah, absolutely. So if you want to connect with me, you can connect with me directly through my email address. And so my last name is Heinz. So that's kind of like the ketchup, but you put a T in there. I wasn't I was one letter too much for that for that ketchup money.
Josh Heintz:But it's so it's J Heinz. That's HEINTZ. So, JHeinz@lendingone,all1word.com. So jheintzlendingone dot com. If you wanna connect with me directly, look, I'd love to talk shop.
Josh Heintz:I work with people in the investment community. So if you're an investor, if you work with other investors, I mean, I'm certainly happy to connect and share with you about our program. If you're interested in or somebody listening is interested in an actual loan product, if they hear this and they're like, Oh man, I'd love to see if I can qualify for one of those loans. You can contact, it's a young man that works on my team. His name is Scott Wolf.
Josh Heintz:And he's a loan advisor that works on my team. And you can reach him directly at (866) 703-6883. And that will not put you into a queue. That'll ring you straight to his desk. Again, his name is Scott Wolf.
Josh Heintz:You can reach him at (866) 703-6883. So either one of either one of those mediums be perfect to reach me out.
Nicholas Cook:Okay. Perfect. We'll make sure we get all that stuff into the show notes as well. Alright, Josh. Well, you know, thanks for coming on to Retire On Rentals and telling us a little bit more about the tools you have to help investors acquire more real estate.
Nicholas Cook:That's what we're all about over here at Retire On Rentals, and really, really appreciate your time.
Josh Heintz:Great. Thank you so much for having me. I really enjoyed it.
Nicholas Cook:And that concludes today's episode of retire on rentals. But we do have a quick favor to ask before you jump off. If you haven't already, please go ahead and like and subscribe. More engagement means better content and more excellent guests. And we look forward to joining you on your real estate journey.
Nicholas Cook:Now remember, stay focused, stay driven, so you can retire on rentals.