On this episode of REI Mastermind Network, we dive into the world of credit unions and how they can benefit real estate investors. Our guest, Mark Ritter, shares valuable insights about how credit unions have control over their money and portfolio, offering competitive rates and friendly terms. He emphasizes that credit unions are not-for-profit financial organizations that require membership, and highlights the advantages of building a relationship with these institutions. Mark explains that credit unions prioritize expanding their membership and understanding their borrowers' financial responsibility, making them a great option for those starting out in real estate. Additionally, he discusses the importance of vetting credit unions and finding the right fit for individual needs. Mark also sheds light on the lending process, emphasizing the importance of transparency and providing necessary information such as tax returns and financial statements. He cautions against quick and easy loans, urging borrowers to take the time to find a lender that aligns with their goals and values. Lastly, Mark shares his personal experience working with credit unions and talks about the pride he takes in helping small lenders grow their portfolios. Don't miss this episode full of valuable insights and advice on navigating the world of credit unions for real estate financing. Connect with Mark Ritter at https://markritter.com/ Topics Covered: 1. Introduction to Credit Unions and their control over money and portfolio - Credit unions' ability to assess property value after rehab and stabilization - Different lending criteria of credit unions based on cost, rehab, and increased value - Offer acquisition loans and cash out values once properties are stabilized 2. Importance of Soft Money Lenders in increasing property value before working with credit unions - Consideration of current market value of properties by credit unions - Regulation and role of credit unions as financial institutions - Loan process requiring quantitative and qualitative information 3. Understanding Borrower's goals and plans as a focus for credit unions - Range of financial services offered by credit unions, not just loans - Friendly terms and no prepayment penalties for credit union loans - Flexibility in decision-making due to lending money from local deposits 4. Role and Structure of Credit Unions - Election and unpaid nature of credit union board of directors - Involvement in the community through running for the board of directors - Accessibility and community involvement of credit union management 5. Benefits of Credit Unions for Real Estate Investors and Small Business Owners - Desire for better relationships with financial institutions and being known by those in charge - Credit unions as a preferred option and their non-profit, cooperative nature - Overview of credit union services such as auto loans, ATMs, and drive-throughs 6. Overlooking credit unions as a financing source for real estate investors - Highlighting competitive rates, friendly terms, and conversational loan processes - Membership requirement for credit unions and their expansion beyond limited groups - Credit unions as a good option for starting out in the real estate business 7. Better understanding and approval of credit union loans for members - Prioritization of membership expansion by credit unions - Vetting credit unions through website research for business and lending services - Asking about relationships and fit with credit union's services and needs 8. Syndication and collaboration among credit unions to increase lending capacity - Companies like MBFS facilitating collaboration and matching with local credit unions - Decreasing liquidity and cautious approach to new relationships due to inflation 9. Importance of open communication with lenders during financial difficulties - Assistance and support from credit unions when facing delinquency - Early communication with lenders for better resolution of financial challenges 10. Speaker's work with various credit unions and preference for community lenders - Speaker's role in helping small lenders grow their portfolio - Transparency and information required by credit unions for loan evaluation 11. Importance of interviewing lenders and finding a good fit for one's needs - Referrals and interviews to ensure lender compatibility with goals - Warning against quick and easy loans leading to unfair terms TIMESTAMPS 00:00:00 reimastermind.net 00:02:34 Credit unions: regulated financial institutions with benefits 00:06:52 Not suitable for all investors owners 00:11:51 Board of directors, accessible management, & community involvement 00:13:42 Keep us informed, transparent, share financials 00:19:26 Credit unions control their money and portfolio 00:20:51 Liquidity crunch and rising delinquency in institutions 00:25:08 Explore credit unions for real estate investment ... https://www.youtube.com/watch?v=sajACpNVEn4

Check out the Full Episode! • YouTube: https://youtu.be/FRvxB2p2C6s • Podcast: https://reimastermind.net/episode/current-real-estate-market-conditions-and-the-possible-crash-with-zachary-beach Zachary Beach is an Amazon Best-Selling Author of The New Rules of Real Estate Investing and co-host of the Smart Real Estate Coach Podcast. He is a Partner, COO, and Coach at Smart Real Estate Coach. In September 2020, they released a revised edition of Real Estate On Your Terms, which Zach co-authored. At the age of 25, Zach decided to leave the world of bartending and personally training and jump into the family business. It was one of the first big risks that he took in his life, as nothing was guaranteed. Plus, he knew absolutely nothing about real estate. Through hard work, in-house training, and implementation, Zach has now completed over 100 deals and growing. On top of that, he coaches students around the country on how to buy and sell property just like his family still does. Now, as a group, they buy and sell 20-30 properties a month with a predictable and scalable system, controlling between $60 million+ of real estate at any one time with little to no money in the deal and no banks involved. Zach has been in the business for over 4 years and now runs all operations of Smart Real Estate Coach, on top continuing to coach his students and Associates. Connect with Zachary Beach and get a Free Book! • http://wickedsmartbooks.com/reimastermind/ Look for REI Mastermind Network and subscribe through iTunes or your favorite podcast app! If you like what you hear please give us a rating, like, and share. It really helps the show grow. SUBSCRIBE to the PODCAST! • RSS: https://feeds.captivate.fm/reimastermind/ • Website: http://reimastermind.net • Apple Podcasts: http://bit.ly/REIApplePodcasts • Google Podcasts: http://bit.ly/REIGooglePodcasts • Spotify: http://bit.ly/REISpotify • Locals: https://reimastermindnetwork.locals.com/ • YouTube: http://bit.ly/REIYouTube • Facebook: https://www.facebook.com/REIMastermindNet • Twitter: https://twitter.com/rei_mastermind • Instagram: https://www.instagram.com/reimastermindnet SUPPORT THE SHOW! • Get Six Months of RentRedi for $1 https://app.rentredi.com/signUp/JCH191 • Join the Community on Locals! https://reimastermindnetwork.locals.com/ • Get $10 and Reduce Your Business Costs by Shopping at AppSumo: https://bit.ly/reiappsumo • Get $10 Towards Your First Purchase at Drop: https://drop.com/?referer=3DC729 "You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - JD ... https://www.youtube.com/watch?v=JY16srBzywg