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: @ceogrovescapitalVisit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisalsVisit primecorporateservices.com/richsomers to book a free callJoin our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related