Compound your time – Team 4AM – Warning the following may not be applicable to all who read

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I have been waking up at 4 am for over a decade now, I have found that exercising early is a Great way to start my day. Something about building my physical capacity threshold early in the morning, while the rest of the world lies dormant, invigorates me to get more done.

The ability to exercise, clear my mind, and plan my day while the sun is still not up gives me an incredible sense of power.  I am able to build my health, prioritize my day, and anchor my psyche.

I have done this for a very long time, I am usually the first one in the office and the last one to leave, I feel that is only right since I am the founder and owner of my company. I don’t say that in a sarcastic way, this l is the path I have chosen, this is what it takes,  I would choose it again a million times over.  The truth is I don’t know any other way.

This path is not for all, it has valleys and peaks, but your ability to deal with them will define you and make you forever stronger if you embrace the challenge.

I write this blog post today to let people know what I do, not today or last week, but for the last 10 years and beyond.  This is what I see myself doing every day for the rest of my life, I come to compete every day, in the gym, at work, in life. This is engrained in my DNA, it is a part of my culture and I embrace it.  This is forever and I look forward to it.  Life is a gift, we are not promised tomorrow  and it’s our duty to maximize it.

I look forward to everyday in front of me and am grateful for every memory I have been able to create.

Embrace your challenges and keep moving forward.

The HGRN difference – We close the deal!

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I was referred a client for an investment property 2 family purchase in the Bronx.

The client had excellent credit, was putting down 30% and the property cash-flowed well. This deal looked like it hit all the boxes and it was going to be a smooth close, at first.

The property had an open violation, when the buyers attorney pulled title, we were made aware of it.  I had to speak to the underwriting committee and explain to them that based on the other merits of the deal, we should close with an escrow agreement in place. They agreed.

I was later made aware that the tenants in the property were giving the owners issues on vacating the property. We had to get an attorney involved. Papers were filed,  and people were served. We managed to ,“motivate” the tenants to start packing.

The seller of the property, then ended up going to the hospital. Luckily her health returned, and she was discharged from hospital. * 2 months had passed.

While we were preparing to schedule loan to close, the borrowers credit expired. (credit reports are good for 60 days)  When I repulled credit the clients FICO had dropped from a 740 fico, to a 550 fico.

I called client immediately, he told me he had no idea what happened. He called his wife ( who was out of the country) The wife had charged  few things and had not told our client, so he missed the payment because he did not know he owed the money.

I instructed the client to pay down the bills, immediately and bring me proof. He did it the same day. Brought me proof and I submitted the proof to our credit vendor.   I did this in order to RAPID RESCORE the  client. ( this is term we use to get a new FICO based upon new debt reductions)

Clients FICO came back up to 640. I was able to bring this report to committee.  We scheduled and closed the loan.

No clients were hurt during this transaction.

We never give up, that’s the HGRN Difference. We close the deal.

 

HGRN C-Flow Program (Cash flow) – HGRN ABL program (Asset Based Lending)

HGRN has a program that is based on simply the investment property we are looking to purchase. Here are  the parameters:

  • Max loan to value is 80% LTV
  • The property must be for investment
  • It can be a 1-4 family ( you can be a first time investor)
    The rental income of the property should be enough to cover the mortgage payments ( principal, interest, taxes and insurance)
  • The FICO of our borrower should be 680 or below (we can  go down to a 500 on a case by case basis)

In the event that the rental income does not cover the mortgage payment.  We move the property from the HGRN C-flow program to the HGRN-ABL program:

  • This program only goes to 75% of the value of the property – but it will lend even if the rents do not cover the mortgage payments.
  • This program is based on the value of the property. Not the income it produces.  ( the rest of the rules above apply)

We offer this array  products in an effort to be able to help clients, when an investment property does not meet one of the guidelines.

Options to Empower!

Higher Education Opportunity Program – Access for all

The thought of what I would do with my life at the age of 17 didn’t really seem like a concern at the time.

A College degree was something that I had to accomplish, not just for myself but for my family. I was to be the first one to graduate in my family.

When I was in my high school years,  I was lucky to meet a few people outside of school that also had the same goals.  When I look back I feel extremely lucky (as I often do) to how things tend to play out.  One of my friends was going to NYU in Manhattan.  Denise Miranda,  who is now a director in Albany for the protection of people with special needs.  She mentioned the school and encouraged me to apply.

This school was not on my radar at all, things like scarcity Mindset, cultural limitations, economic barriers, learned limitation. (the concept of knowing your place in society)

 

Those terms had not become defined yet, they were not being used in society as freely as they are now..  But they existed.

The paradigm shift has become social media, the internet allows everyone to communicate any idea at any moment.   Whether the information is correct or incorrect, it goes out.

I didn’t know why I didn’t consider this school. But I am determined, so once it was on my radar, it was go time.  I applied, was accepted, graduated and fast forward 27 years later, here I am

I am getting off topic, this Friday  October 25th 2019.

I attended the 50th anniversary of the NYU HEOP program. This program allowed people like me, who at 17 had no financial means, to attend one of the most prestigious schools in the country.  I was admitted on my own merit, ( I am good test taker)  but without this program I would not have been able to attend. Financially we just didn’t have the means.

The person in the picture with me is Sharon D.D. Reid, (class of 96) she is a diversity and inclusion coach. When we started in school, the title for this job, didn’t even exist.

She along with Tanya Ramos – Director of the global non profit “Pencils of promise” are the only two people that I know have graduated alongside me.  We entered with a class of about 90 thru the program, and I know of only us that graduated.

That attrition rate is alarming, but the focus should be on the success.

The reason for the blog entry  is to let the next generation know, all we get is a chance, the rest in on us.

We should be accountable and grateful but once you have been given the opportunity, you have to seize it.

Access for all.

 Photo credit to credit NYU’s Photo Bureau