The topic of this interview with Jerry Wilson is buying Investment Property. He shares his insights of what it takes and what to expect in 2017 when it comes to financing residential income property. Jerry Wilson has been a Morgage Professional over 25 years. He has funded nearly 1 Billion dollars in transactions.
Fred and Jerry,
I enjoyed the interview (hello, Jerry!). The only point I would make has to do with Jerry’s comments about transferring ownership of the property, after the loan has closed, to either an LLC or corporation, or other entity. Listeners should know that the loan documents should be reviewed carefully before this is done, as the event of transfer could constitute a wrongful transfer under the loan documents, triggering the due on sale clause, and be a default under the loan documents. And there would be plenty of ways for the lender to find out that this has happened.