#122: Mike Anderson- Lending Throughout the Decades

September 20, 2021

“The cheaper the home, the more you’re going to get rent for the value of that home.” -Mike Anderson

 

Today I am interviewing Mike Anderson. He is the Founder and Owner of Reliance Mortgage Company based in Dallas, Texas. Reliance Mortgage Company specializes in mortgage loans ranging from jumbo loans to USDA loans. They have to date closed on over 8 million dollars under Mike’s guidance and direction. He hosts his own broadcast called Reliance Real Estate Mortgage Hour which airs on CBS Radio weekly. 

Mike Anderson: Is a Residential Mortgage Loan Originator starting his company back in 1989. From 1971-1981, Mike received  Century 21’s Top Listing Sales Person in a three-state region as well as the 1995 Prestigious Entrepreneur of the Year by INC. Magazine. He is also as of recently an educator for the Texas Real Estate Commission helping realtors continue their education. 

 

TOPICS COVERED IN THE EPISODE:

  • When did Mike start working in loans 
  • What is a jumbo loan
  • The rules of lending in real estate 
  • Why Mike no longer invest in single family homes 
  • The importance of calling people directly 
  • FHA loans in the 60s
  • Consistency in following up 
  • Is there a housing shortage in the US 
  • What is happening in Dallas, Texas
  • How do wholesalers buy houses 
  • Are properties overvalued 
  • What are investor properties 
  • What percentage should an investor put down on a property 
  • Do credit scores affect interest rates 
  • Passive investor and a 15 yer note 
  • Investing for appreciation 
  • W2 investors vs non W2 investors 
  • Using a hard money loan 
  • The rules of house hacking 
  • Why you need to have thick skin in real estate investing

 

Listen now on Spotify or Apple iTunes or watch on Youtube to find out how Mike found his Real Estate Breakthrough!

The Real Estate Breakthrough Show with Christina Suter is where we talk about the reality of real estate, the mindset you need and the tips and tricks to get you moving forward in investing. Join us every week and learn everything you need to know to invest in real estate education and create real wealth for a lifetime.

 

Find out more about Mike here: 

Website RelianceMortgage.com

Phone 214-346-5201

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