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Appraisal Nation and Bridge Loan Network

Bridge Loan Network has recently partnered with Appraisal Nation to make it simple for lenders to order appraisal directly through Bridge Loan Network. With one click you can order an appraisal for any property nationwide.

In the private money industry, time is one of the most valuable assets. Appraisal Nation saves your company time by stream lining the appraisal process. Simply place an order through our system to Appraisal Nation and they will do the rest. Utilizing their nationwide network, your request will be assigned to a certified appraiser within an average of 4 hours.

After the appraisal is scheduled, Appraisal Nation’s Client Service team will continue to work with the appraiser until the report on the property is finished. Once the report is complete, Appraisal Nation has their in-house appraisers review the to ensure all fields are complete.

Now that Appraisal Nation has partnered with Bridge Loan Network, we are excited to bring our clients the ability to order appraisals directly through our system. Making the appraisal process faster and easier for all of our clients.

Is Your Current Process Killing Productivity?

Simply stated, how your lending process is structured holds a significant role in how efficient, compliant and quick your organization is in processing a loan from application to closing.

Quite often we meet individuals whose main form of a “Loan Origination System” or “Loan Management System” is with many, many excel files and back and forth email chains.  But what happens when a file is deleted, or an email chain becomes so long you can’t find the information you need for the loan file? By having one secure location each team member can access for all loan documents and pertinent information is how you can bring your lending business to the next level.

We’ve built our Loan Origination System (LOS) and Loan Management System (LMS) based on feedback from other lenders and their processes, so we could help streamline them. With Bridge Loan Network’s LOS, we can integrate your loan application right into our software. Additionally, your brokers and borrower can do more than just apply for a loan. They’ll be able to add in required loan documents and authorize a credit and background check before you even look at the file. You’ll also be able to track the loan from beginning to end, without the use of paper documents and excel files.

See the difference for yourself, give Bridge Loan Network a call (860.432.9700) to learn how our Loan Origination System and Loan Management System can improve your lending process.

Bridge Loan Network’s Referral Program

Referrals Welcome!

Let’s Grow Our Businesses Together

Bridge Loan Network has developed a Referral Program that serves as a centralized location for real estate investors, contractors, REO Agents, and other members of the real estate industry to find hard money financing for their clients and receive a commission for the referral.

The premise of the Referral Program is simple. Our web developers at Bridge Loan Network will set you up with your own web application link where we can track the loans that come through so you can receive a commission for the closed loans. Then once your personalized application link is created, you can either direct people to apply by sending the link, or by adding a button to your website.

We also suggest adding a small amount of text around, or below the application link to help visitors on your site know where to apply for the hard money loans. Two examples our current Referral Program Members are using are below:

“The Fastest Route Between Loan Application and Closing for Hard Money Deals. Apply for a Loan Today!”

“We provide hard money loans and commercial lending options for real estate investors with competitive rates and terms. Apply Now.”

Pro tip: Don’t have a website? We can still build you a personalized Referral Application page that you can send to your clients in order to get deals in!

Benefits of the Referral Program:

How the Referral Program Works:

  1. Bridge Loan Network creates your own personalized Referral Application Link
  2. Add Referral Application Link to current site or send directly to clients looking for funding
  3. Loans submitted will be sent to industry leading private lenders on the Bridge Loan Network Software
  4. Lenders will contact applicant’s directly to process the loan request
  5. When the loan closes, you as the referral source will receive a commission on the deal
  6. Repeat and earn easy referral commissions!

Apply to become a Referral Program Member today!

Benefits of Adding Tech Upgrades to Your Next Investment Property

Many real estate investors are seeing an increasing demand to add technological or “smart” upgrades to their projects. This is attributed to both an increase in desire from prospective tenants or homeowners and to the additional value, these smart upgrades add to the properties.

According to Consumer Reports, smart home features can boost your home’s resale value by 5% and a survey of Realtor’s showed that 42% of clients were interested in smart home devices. Investors can target this market by incorporating smart upgrades to their investment properties.

Below are smart home benefits for both investors and buyers/renters:

Smart Homes are Safer

The most common smart home add-on is a security device. This can include the use of cameras and sensors that can detect a break-in, smoke, fire, carbon monoxide, moisture levels to detect flooding and other items to keep you and your property safe. Smart home security devices can even be as simple as a smart lock, where you can lock your front door with an app on your phone. You’ll never have to wonder now if you forgot to lock up for the day, whether it be your primary residence or flip project. Both of these devices will not only be a selling point for prospective home-buyers but also give landlords a peace of mind about the safety and security of their properties.

Smart Homes Save Money

Smart thermostats allow you to control the temperature in your home at all times, including when you are not on the property. According to a recent study by Nest, a smart thermostat company, smart thermostats can save homeowners an average of 10%-12% on their heating bill and an average of 15% on their cooling bill, which can translate to over $170 saved in a year. Saving money is a huge selling point for many buyers, and as a landlord, you can factor these savings into the total rent cost maximize profits.

Remote Monitoring

With these new smart home devices listed below, home-owners and landlords can keep an eye on their property at all times. Now as an investor you don’t have to check in on a vacant property or your current flip project every day to ensure there is no flooding, freezing pipes, break-ins, etc. Now you can check your phone and connect to the smart devices on the property. Giving landlords, investors, and home-owners a peace of mind.

Types of Smart Upgrades:

Smart Thermostats

Source: https://store.nest.com

“The Nest Learning Thermostat was the first thermostat to get ENERGY STAR certified. It learns what temperature you like and builds a schedule around yours. And independent studies showed that it saved people an average of 10% to 12% on heating bills and 15% on cooling bills.”

Smart Door Locks

Source: http://august.com/products

“Lock and unlock your door, control keyless access, and keep track of who comes and goes, all from your phone. They’re discreet and can be installed inside of your door, so your door’s exterior hardware does not change. Use your existing keys any time.”

Moisture/Temperature Sensors

Source: https://www.wallyhome.com/

“Receive instant alerts via text, phone call, email, and push notifications on your mobile device when a water leak is detected, a temperature or humidity reading is outside a desired range, or if a window is left open.”

Video Doorbell

Source: https://ring.com/

“Ring lets you adjust your motion sensors so you can find the ideal setting for your home. You’ll get instant alerts when motion is detected, allowing you to protect your property from the comfort of your smartphone.”

 

Bridge Loan Network is a leading, online portal in the asset-based lending space. By providing a centralized platform for submitting deals, Bridge Loan Network is technology that connects the private lending industry. 

 

Do you have any other smart home devices you would recommend?  Share your recommendations in the comments!

Bridge Loan Network Exhibiting at the 2018 Real Estate Symposium

A Team from Bridge Loan Network will be exhibiting at the 2018 Real Estate Symposium presented by Green River Capital, Red Bell Real Estate and ValuAmerica. The Real Estate Symposium, which is taking place February 28th through March 2nd at the Grand America Hotel in Salt Lake City, Utah is a nationwide leading conference for REO experts.

In addition to ample networking, Bridge Loan Network will also be registering attendees for our White Label Websites and Web Application Integration Plug-Ins.

White Label Website Benefits:

Already have a website? Then we can provide the Web Application Integration Plug-In which is a Loan Application plug-in for your website that connects to our Loan Origination System.

Web Application Integration Plug-In Benefits:

The White Label Website or Web Application Integration serves as a loan portal and offers simplified loan entry processes for you and your clients.

To learn more about the White Label Website and Web Application Integration Plug-in, stop by Bridge Loan Network at Booth #1 at the Real Estate Symposium or contact us at info@BridgeLoanNetwork.com.

Exciting New Software Features

As you know, our system has the ability to track your client’s loan from beginning to end. However, we are constantly striving to add more features in order to decrease the amount of work involved for all parties and increase closing efficiency. That’s why Bridge Loan Network is excited to introduce our newest feature, the ability to pull credit history!

The credit check is good for 90 days. What that means is your client’s credit doesn’t have to be ran multiple times by multiple lenders. Bridge Loan Network will run the report once and keep it safe and sound on our system for 90 days so it can be seen by the multiple lenders on our site. One credit check means not only will your client save money, but it will help to maintain their credit score.

Lenders, when we say browse completed loan packages, we mean it! This feature allows you to quickly determine if the borrower’s request meets your criteria. It also saves you time, no more asking for, or waiting around for credit scores to be checked. It’s all right here, in our loan origination system!

Lastly, payment for the credit check is also processed through our system allowing you and your clients to truly keep all documents in one, safe spot. Join us today if you’re looking to introduce a new way of closing hard money deals to your clients. Contact us for help getting started.

Using the Bridge Loan Network Platform to be Profitable

The Bridge Loan Network lending portal is robustly unique. With just a click of a button brokers can submit loan packages that can be viewed by multiple lenders. Lenders, these deals must be fully completed before they are let into our portal meaning you don’t have to waste your time tracking poor leads. Our goal is to help lenders and brokers come together to get deals done, so we’ve put together this list of tips for how to best utilize our platform to be profitable.

Brokers:

Take a look at the list of items needed for 24-hour underwriting. Once you have these documents ready to go, head to the lending portal and submit the paperwork. The best part is, you only have to submit the loan package once and then it can be viewed by multiple lenders.

Like we said, our system is robust. The more information you provide, the better chance you have at capturing a lender’s attention. Make sure you are as thorough as possible. Include as much information about the loan request as possible. For example, don’t forget to specify the loan type, amount, purchase price and very importantly the borrower’s contribution and credit.

Lenders:

Time is money. Don’t wait for opportunities to come to you or waste time looking at poorly sourced deals. Log in daily to see multiple broker-submitted loan packages all in one place. Choose deals that are right for you and streamline your internal process. No more searching for paperwork, or requesting last minute information. Everything you need can be quickly accessed anywhere you have an internet connection.

Contact us today to demo our software and to learn about the features that can reduce your work load to make you more profitable!

Bridge Loan Network Lending Portal

 

The Bridge Loan Network lending portal is robustly unique. With just a click of a button brokers can submit loan packages that can be viewed by multiple lenders. Lenders, these deals must be fully completed before they are let into our portal meaning you don’t have to waste your time tracking poor leads. Our goal is to help lenders and brokers come together to get deals done, so we’ve put together this list of tips for how to best utilize our platform to be profitable.

Brokers:

Take a look at the list of items needed for 24-hour underwriting. Once you have these documents ready to go, head to the lending portal and submit the paperwork. The best part is, you only have to submit the loan package once and then it can be viewed by multiple lenders.

Like we said, our system is robust. The more information you provide, the better chance you have at capturing a lender’s attention. Make sure you are as thorough as possible. Include as much information about the loan request as possible. For example, don’t forget to specify the loan type, amount, purchase price and very importantly the borrower’s contribution and credit.

Lenders:

Time is money. Don’t wait for opportunities to come to you or waste time looking at poorly sourced deals. Log in daily to see multiple broker-submitted loan packages all in one place. Choose deals that are right for you and streamline your internal process. No more searching for paperwork, or requesting last minute information. Everything you need can be quickly accessed anywhere you have an internet connection.

Contact us today to demo our software and to learn about the features that can reduce your work load to make you more profitable!

Meet Us at the Five Star Conference & Expo

Bridge Loan Network will be exhibiting at the Five Star Conference and Expo September 18th to 20th for the third time.  The conference which is taking place at the Hyatt Regency Dallas is a noted as a great source for information, collaboration, and progression within the mortgage industry. The conference is designed to help take businesses to the next level and will offer networking opportunities, educational sessions, and certification classes.

In addition to sponsoring and exhibiting at the conference Bridge Loan Network (BLN) and lending partner, RCN Capital, will be hosting a Networking Event at the Iron Cactus Restaurant and Margarita Bar in Downtown Dallas on Monday, September 18th.

“We are excited to use this event as an opportunity to meet conference attendees and exhibitors,” says Jon Allen, VP of Business Development for Bridge Loan Network. “Each year we have attended this conference has opened more doors for us and expanded our network.”

For more information on our networking event please come to our booth 504 & 506 on the opening night of the conference during the Opening Night Reception.

Be sure to meet the Bridge Loan Network team at this year’s Five Star Conference and Expo, we’ll be at booth 504 & 506!

To learn more about the Five Star Conference & Expo, click here.

Looking to Buy? Consider A Tiny Home!

If you are familiar with the real estate industry, you’ve surely heard of the new “tiny house” craze. This movement is a way for home-buyers to save thousands of dollars, and valuable time on home improvement projects, by purchasing homes that are way smaller than a normal property. On average, the typical American home is between 2,000-2,600 square feet, whereas tiny homes generally weigh in between 100-400 square feet. Coming in all different styles, and materials, these houses may be the new future of real estate.

Some people scoff at the idea of living in such tight quarters, but there are a variety of reasons people are choosing to downsize their living space; the main reasons being cost, environmental concerns, and the itch for more time and freedom. With over 70% of Americans facing credit card, and student loan debt, the idea of a tiny house sounds extremely appealing. Certain tiny home kits can go for as little as $10,000; which is a steal in the grand scheme of housing.

According to thetinylife.com, there are an abundance of reasons why you should buy a tiny home:

Giving up square footage is a small sacrifice to save thousands of dollars, and endless amounts of time. A smaller property means smaller messes to clean, and smaller yards to maintain, resulting in a better quality of life. Also, aside from the money, our planet will thank us since buildings contribute to roughly 1/3 of our greenhouse gas emissions.

If you’re in the market, and looking for a unique style of living, consider purchasing a tiny home, because your wallet, and our planet will thank you!

Author: Tara Doherty