Rich sits down with Chris Groves – a serial entrepreneur who is leading the way in the lending industry and has funded over $7 billion in loans. He and his wife, Aleyna, started Groves Capital Inc, a family-owned mortgage company with the lowest rates in the industry. Groves Capital’s greatest accomplishments have been growing from 2 people to 575 across 25 states in fewer than three years; creating a family feel across the company where everyone works together to help others become successful; and doing billions in volume in such a short amount of time.
Rich and Chris start off by discussing Fast Lane Drive, Chris and Aleyna’s new TV Show “Vows to Ventures,” current market trends, the longevity of the baby boomer generation, re-fi loans, Chris’s new fourplex in Coronado, who funds traditional and non traditional loans, defaulting on loans, and payment penalty negotiations.
They then reflect on non-qm products, DSDR loans, partnering on loans, the importance of location, value add projects, what bridge lenders are capping loans at right now, ARV Percentages, appraising properties, Appraisal Management Companies, fighting and shopping appraisals, and Chris’s experience as an appraiser.
Lastly, they talk about re-financing into fixed debt, development deals, the risks of personally guaranteeing notes, DSDR thresholds, Insurance Rates in California, International lending, where Chris is lending currently, Belize becoming a hot zone, and where Chris plans to travel to in 2024.
Connect with Chris on Instagram: @ceogrovescapital
Visit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisals
Visit primecorporateservices.com/richsomers to book a free call
--
Connect with Rich on Instagram: @rich_somers
Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.
Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.
Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.
This MTV Jackass Star Survived All the Drugs & Alcohol Addictions | Brandon Novak E197
At What Age Do You Want To Have The Option To Work Or Not Work? | Thach Nguyen E196
It’s Supposed To Be Hard, and You’re Supposed To Do It Anyway | Saturday Edition E195
He Owns 9 Short Term Rentals & Just Bought His First Boutique Hotel | Kassidy Warren E194
Your Money will Grow When Your “Mindset” Does | Jason Drees E193
Benefits of Becoming a Franchisee & Should You Buy Bitcoin? | Jake Rosenthal E192
How She Went From $37,000/YR to 220 Doors in 5 Years | Avery Carl E191
Tax Loopholes & What To Do When You’re Audited | Amanda Han E190
Why I Stopped Drinking Alcohol & How to Build Your Personal Brand Starting From Zero | E189
How To Quit Your Job To Travel The World | Brian Luebben E188
His Brokerage Has Done $10 Billion in Real Estate Sales | Oliver Graf E187
The Ability to Raise and Multiply Capital is a High Value Skill | Saturday Edition E186
The Mid-term Rental Playbook | Ruben Kanya E185
The Spending Habits & Distractions that Come with Being an NFL Star | Golden Tate E184
Money Loves Speed, Poverty Loves Indecision | Saturday Edition E183
2024 Real Estate Market Forecast & Is Right Now a Good Time to Buy? | Kenny Simpson E182
How She Scaled to $10M+ in Real Estate by Age 26 Using Social Media | Soli Cayetano E181
Venezuela, Neuralink, & How To Use AI to Grow Your Business | Vanessa Alfaro E180
The Pros & Cons of the Apartment Investing Game in 2024 | Eric Nelson E179
She’s a Registered Nurse Buying Apartment Buildings & Helping Other Nurses Reach Financial Freedom | Savannah Arroyo E178
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money