Avoiding Pitfalls in the Lending Process with Brandon Campbell, Ep 85

Feb 29 2024 • 31 mins

Today's guest is Brandon Campbell, Brandon is a top producing loan originator at Lima One Capital. He joined Lima One in 2016 as an entry level inside sales rep & moved quickly up the leaderboard. Over the years, he has consistently been one of the top 5 originators at the company.

In his description of the company's achievements, Brandon reveals that Lima One Capital has completed 1700 closings and now manages between 200 and 300 each year. He states that they currently have a $3 billion forward loan volume and that eight of every ten loans they issue are funded. In addition, he discusses loan origination procedures, underwriting policies, interest rate variations, asset class dynamics, and common misconceptions in the industry.

Brandon exhorts those who are listening to invest in real estate as a possible means of accumulating riches.

Episode Topics

[01:17] Meet our guest, Brandon Campbell
[01:38] Brandon Campbell's Journey in Real Estate
[03:26] The Customer Base and Loan Size
[04:48] Exploring Multifamily Investments
[13:19] Vetting Sponsors and Understanding Asset Classes
[24:34] The Future of Interest Rates and Final Thoughts
[28:14] What is one red flag every investor should look out for?
[28:44] What is a myth about the real estate business?
[29:32] Connecting to Brandon

Notable Quotes

“A loan originator is mainly a salesperson hired by a mortgage company.” - Brandon Campbell
“Loans are a crucial element of almost any real estate deal.” -Tim Little
“I am customer crazy, I know our products frontwards, backwards, and side to side, and I can help people get across the finish line.” -Brandon Campbell
“Our appetite is pretty vast, but I would say the majority of our loan volume comes from well established customers, who have purchased at least dozens of homes.” -Brandon Campbell
"Vetting sponsors is about common sense. We say yes when the story aligns—market knowledge, crew presence, and a sensible approach." -Brandon Campbell
"We're well-capitalized but nimble. The best of both worlds between hard money and traditional banks." -Brandon Campbell
“Banks shy away from tertiary markets due to risks. It's not as sure as primary or secondary markets with population growth." -Tim Little
"The tricky part with short-term rentals is navigating local laws. It's hyper-local, and legality matters. Ensure you're allowed to do it to avoid trouble later." -Tim Little

👉Connect with Brandon Campbell