Uncategorized

Aurum and Sharpe was founded in 2017 by me, Bryan Hanley, and one of my best friends, Rudy Renelique. After many years working at big banks like Chase, and Wells Fargo, we decided we could bring value to a mortgage market that was starving for independent thinkers. So we started Aurum and Sharpe over a phone call about financing a multi-family deal in Brooklyn. Since starting this business we’ve been on many adventures from financing a $20 million portfolio of single families, to meeting the President of Rwanda and Finance Minister of Namibia.

Rudy has gone on to start his own firm, Overture Capital, while I’ve stayed on to grow Aurum and Sharpe. Aurum is the original Latin word for gold (that’s why the periodic table has it listed at Au). We chose it because we think of our word as “as good as Gold.” And in that vein, we want to add value to every customer we come in contact with. Our promise is that by working with us, you will increase your Freedom, Purpose, and Fulfillment.

Our process includes learning your overall objectives and where you want to go in your life so that we make sure your financing enhances your life and gets you to your destination much faster. What that means though, is that we are not like every other broker on the street that will only do a surface level amount of learning about you, your life, and your motivations. For us, that is Gold. We want to learn how we can tailor your financing so that you thrive in your life! So before we talk about rates, terms, or anything else, we are going to try and figure out how to add value through financing.

We know this approach isn’t for everyone. But if this resonates with you, lets talk: 917 475 6207

July 22, 2024

How to Get Financing for the BRRR Strategy: What’s the Deal with Real Estate Loans?

Hey there, folks! Let’s talk about real estate investing. You know, that thing everyone’s cousin and Uber driver are suddenly experts in. Specifically, we’re diving into the BRRR strategy. No, it’s not a new dating app or a fancy latte at Starbucks. It’s a way to build wealth through real estate. BRRR stands for Buy, Rehab, Rent, Refinance, and Repeat. Sounds easy, right? But what’s the deal with getting financing for this thing? Buy: Finding the Money First up, you gotta buy a property. And unless you’ve got a money tree in your backyard (and if you do, let’s talk after the show), you’re going to need some cash. Traditional mortgages are great if you’re buying your forever home, but for BRRR, you need something with a bit more oomph. Enter hard money lenders. These guys are like the cab […]
July 22, 2024

How the BRRRR Strategy Works and What the Pitfalls Are

Hey there, folks! Jay Leno here, ready to take you on a ride through the world of real estate investing. Today, we’re talking about the BRRRR strategy. No, it’s not about staying warm in the winter. It stands for Buy, Rehab, Rent, Refinance, Repeat. Sounds like a mouthful, right? Well, buckle up, because we’re about to break it down in a way that even your grandma would understand. Buy: Scouting for Deals First things first: Buy. This isn’t just about throwing cash at any old property. Oh no, this is about finding a deal. Picture it like this: you’re Indiana Jones, but instead of searching for the Ark of the Covenant, you’re hunting for that undervalued property that’s just waiting for a makeover. You want to look for properties that are a bit worn out, maybe even a little ugly. […]
July 22, 2024

The Lifecycle of a Residential Real Estate Investor

Investing in residential real estate is a journey that offers the potential for significant financial rewards, but it also comes with its own set of challenges and learning curves. Understanding the lifecycle of a residential real estate investor can help prospective investors prepare for the various stages and make informed decisions along the way. Here, we explore the typical stages that investors go through, from initial planning to building and managing a robust real estate portfolio. Stage 1: Education and Planning The journey of a residential real estate investor often begins with education and planning. Aspiring investors start by educating themselves about the real estate market, investment strategies, and financial principles. This stage involves: Stage 2: Market Research and Property Search Once investors have a solid foundation of knowledge, they move on to researching the market and searching for properties. […]
January 10, 2024

DSCR Loan FAQs

Why does a DSCR lender need an operating agreement for my LLC if its not required by the state? This question comes up at least half the time in DSCR loans. Often, DSCR lenders will not close unless there is an operating agreement in the borrower’s file. The reason for this is that the borrower on the loan technically is the LLC. The person behind the LLC is the sponsor, or guarantor. The lender wants to know who legally has right to the property through the LLC. One of the jobs of the operating agreement is to outline who owns the LLC and what percentage they own. Typically any sponsor who owns 20-25% or more of the LLC would be required to be a signer on the loan as well. If you need a mortgage and need help with this, […]
June 14, 2023

How Much Are Closing Costs?

The closing costs associated with a real estate transaction can vary significantly depending on various factors such as the location, property value, loan amount, and specific terms negotiated in the transaction. Closing costs typically range from 2% to 5% of the property’s purchase price. Here are some common expenses that are typically included in closing costs: Loan-Related Fees: These include application fees, loan origination fees, and points (optional fees paid to lower the interest rate). Appraisal Fee: This covers the cost of a professional appraisal to determine the property’s value. Inspection Fees: These include the cost of property inspections, such as general inspection, pest inspection, and others as required. Title Insurance: This insurance protects the lender and buyer against any issues with the title, such as liens or ownership disputes. Attorney or Escrow Fees: The fees charged by the attorney […]
May 23, 2023
what is the max loan to value for a cash out refinance

What is the maximum LTV for a cash out refinance?

The maximum loan-to-value (LTV) ratio for a cash-out refinance depends on various factors, including the lender’s policies, the type of property being refinanced, and the borrower’s creditworthiness. Generally, lenders have their own guidelines and may impose different maximum LTV ratios. For investment residential properties, such as single-family homes, condominiums, or multi-unit properties with up to four units, the maximum LTV ratio for a cash-out refinance is often capped at 70% to 75%. This means you can typically borrow up to 70% to 75% of the appraised value of the property, subtracting any outstanding mortgage balance. However, for commercial properties, including multi-unit residential properties with more than four units and non-residential properties like office buildings or retail spaces, the maximum LTV ratio for a cash-out refinance tends to be lower. It can range from 65% to 75% in many cases. It’s […]
March 13, 2023
Investment Property

What to do if your Mortgage Application to buy an Investment Property is rejected?

While it may be tempting to buy an investment property all-cash, especially in a hot seller’s market like the one we’re experiencing all across the U.S., as a real estate investor it’s typically best to secure a long-term mortgage. A long-term mortgage, of 15-, 20-, or even 30-years in length allows investors to take advantage of low-interest rates, and have a stable operating expense budget, that is not sent ratcheting up or down due to multiple loans and their accompanying interest rates. It’s not uncommon for a real estate investor’s application for an investment property mortgage to be rejected. While usually securing a mortgage for an investment property is much more streamlined and straightforward than securing a loan for an owner-occupied home, there are several factors that can cause your application to be rejected by a lender. This can happen […]
February 15, 2022
1031 Exchange

How to use a 1031 Exchange to Scale your Real Estate Portfolio?

If you’re a real estate investor looking to grow your real estate rental or investment property portfolio, you may want to consider using the 1031 exchange program offered by the Internal Revenue Service (IRS). Typically, growth in the real estate sector is driven by investors that do the following: buy a property at a low price, hold onto it for a certain time period, to then resell the property at a higher price, using the proceeds to buy another property and repeat the entire process. It’s a cycle that has made entrepreneurs millions. And within the industry, the more cash you have on hand the more you’re able to borrow, and the better assets you can purchase. The only roadblock with most real estate transactions, at least where an investor or non-homeowner is involved, is the profit generated that is […]
February 7, 2022
Refinance your mortgage

How to Refinance my Portfolio of Single-family Homes?

Rather than buying apartment buildings, many real estate investors are focusing on acquiring multiple single-family homes and creating a portfolio. With the rising cost of single-family homes, the decrease in overall home inventory, and the increased requirements to qualify for a first-time homebuyer loan program homeownership has dropped, and more people are renting. Specifically, they’re opting to stay long-term in single-family homes in a semblance of achieving the American dream. However, as a real estate investor with a portfolio of single-family homes, you may be wondering how to refinance them. This can be a difficult process, but rest assured it is not impossible. In this article, we’ll outline the steps you need to take in order to refinance a portfolio of homes, as well as the benefits and potential risks. What is a Single-family Home Portfolio? Before jumping into how […]