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Residential Mortgage Availability, Vivian Fried Kidney Transplant Update

Episode 371: 06-02-16

On this week’s show, Jim Fried discusses the residential mortgage business, and we get an update on Vivian Fried’s kidney transplant journey.

Residential Mortgage Availability

Jim just started originating large home loans, and he wants to help YOU!

Jim discusses what he is learning and how he can help you as he expands his practice into the jumbo and super jumbo residential mortgage business. Who can get a loan? Who cannot? What rates and terms are available? How fast can a loan get closed?

Do you need a home loan? Jim wants to help you!

Vivian Fried Kidney Transplant Update

An update on Vivian Fried. You can donate to her kidney transplant fund by clicking here:

To become a member of the Vivian Fried Fundraising Team click here:


Episode 371: 06-02-16

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Jim Fried: All right everybody, we have got a super duper show. We’re going to teach you how to figure out the residential loan business. We’re going to help you learn things today that you could put into action all day. It’ll help you every day, help you out with your home loan so stick with us. We’re going to talk about residential home lending. We’ll be doing it all day long today here on Fried on Business. Wanda, take it away.

[commercial break]

Jim Fried: We’re doing another broadcast. We’re broadcasting live from the new 880 AM station. Wanda, high five to you in there having a good time piloting the show. AC is on his way in. Wanda is thrilled that she’s here working an extra shift.

Wanda: I think so. Can you hear me?

Jim Fried: I hear you a little bit but it sounds like you’re broadcasting out of a tin can. It is very weird. But what we’re going to do is we’re going to talk a little bit about what I’ve learned in my first week of being in the residential mortgage lending business. Actually I’m selling myself short. My partners have been in business for 25 years. Bob Gutlohn is at Spectrum Mortgage. You’ve heard us reading their ads here on 880 AM here on Fried on Business and Spectrum has been in the business for 25 years and Bob has been doing, he does some great stuff. Wanda, I’m hearing the song playing behind me. Thank you so much. So I want to talk a little bit about what I’ve been learning, what I’ve been seeing and help people get a feel for what’s going on in the mortgage business. I got to tell you, if you need a home loan and you have got one in a while, you’re in for a big surprise. Let me give you an example, I have a very good friend of mine who got a lot of cash in a bank, he owns a free and clear house in the Keys, he’s buying a house here in South Florida, he owns a house free and clear in Hollywood, Florida. And so he goes to me ”Jim, I should be really easy to get financed. I’m going to go to my bank, I’m just going to do it”, I’m saying ”You’re really not because you’re an entrepreneur. You don’t have steady income. So the bank is going to say ”Can I see two years of your income statement”, you’re going to go ”My gosh, sure here it is. But my income is down last year”, and they’re going to go ”That’s the one we’re going to use, boy you’re going to be in trouble then”.

So what you got to do is you got to make sure you work with somebody that knows banks will be more flexible, that’ll look for a little bit longer, 1040 reviews. And that was one of those local banks here yesterday and another one today. In fact, the folks at Spectrum have a bunch of those banks that’ll work with you and be more flexible. But if you’re not perfect, it’s going to be tough. People that are perfect, that have their UBS accounts will talk about one of those. I have a friend of mine. He actually rents his apartment but owns two houses, one in Colorado and one in the Keys. That guy’s got a pretty much perfect credit and he’s been working at the same place getting regular distributions from his partnership in one of the big law firms here in town. That guy is financing all day long. He called us, he asked us what our rates were, we said that he should just go ahead and do it on his broker’s line to credit his margin account because he can borrow much cheaper there than he can somewhere else and it’s something that he really needs to do. So we have the one guy with the regular income, he’s got a bit of a problem, he would probably going to get a bank loan but it might be a little more expensive than he thought.

Then we got the guy with the perfect credit, that guy just needs to walk in his place where he has his stock account. He just borrows the money against his stock account. And that’s what he has to do. So you’ve got two people that look the same, basically everybody on the street, very successful people, millions of dollars in assets that they own but they have different incomes. That means they have different credit profiles. That means that they have different loans that they’re going to be able to get. And who do we have to thank for this? We have to thank Mr. Don and Mr. Frank because they’ve come up with all these new things that are going to be rolling in, it’s taking more and more lenders right out of the mix. And as the lenders leave the market, what does that do to you the consumer? It makes it more difficult. You’re going to need to roll in about 12 pounds of paperwork. You can put it all together yourself but you want to take that from bank to bank to bank to bank? Probably not. That’s what I’m going to do. I’m going to work with you, I’m going to help you figure out which bank we should go to, we’ll target the banks. I want to take you what I call it ”taking people on dates”. You’ll go to the different banks. We’ll go on dates.

We’ll talk to them. You’ll walk in knowing what you can expect. And there’s different pricing all over the place. For the best person borrowing on a credit line, low loan value, that person is going to look below three. They’re going to get an interest rate below 3 maybe. Maybe they’re a little bit higher. Maybe they’re in the 3’s. But then there’s somebody with a little bit less perfect credit, that person may be in the 4’s. Then you go out of the banks, actually you don’t go out of the banks as other banks you can do these loans with, but there you may be in the 4’s or the 5’s. Then you’ve got the private lenders start coming in at around 6,5 to 7. And then they go away again until about 9. And so all over the spectrum, there’s different ways to get – spectrum, I like the way I turn the words on that, high five to Bob for the name Spectrum – but Bob and I are working together, I’ve originated a whole bunch of mortgages. There’s another mortgage, a guy that lives up at Palm Beach County fancy on Palm Beach. He lives in the inter-coastal side, not the ocean side, this place is only worth $13 million. That guy only wants to borrow $5 million. Well that guy, I’m going to be able to get him financed.

I’ll probably end up competing with the firm that holds all of this stocks and bonds and his margin account. But you want to know something? A lot of times those firms drop the ball. And this is all about service when you’re in the super jumbo mortgage business that we’re in. It’s all about service, it’s all about making sure that the borrower has the best experience and I’ve got to make sure that that happens for them. Because the borrower is in it once in a while. I’m in it every single day. I also have another.. here’s a great example. I had a developer. My friend is a developer. He’s building spec house in Coral Gables, about $1.5 million. He’s getting close to selling it and he wants to prequalify it for a loan. I got a surprise. I can’t prequalify the house for a loan because it all depends on the borrower. It depends on what the borrower’s credit looks like. So we’re going to meet and we’ll see. He probably can get 65, 75% I will give the person sort of a matrix and what they could use as guidelines. But the reality is, is that you can’t project what an individual is going to qualify for. Each person will be different. That’s why I chose to get into the mortgage origination business. That’s why if you can help me, if I can help you, you can call me at 305 773 6300, that’s my cell, call me after the show, we’ll talk off the show because I don’t think you want the whole world to hear your issues.

But if you do, you can call us at 305 541 2350, that’s the 880 number. But really, if you call me, Jim Fried at 305 773 6300 I want to help you understand what your situation is and who we’re working with. We’re working with people that are looking for loans, I’d say about over $500,000 is basically the average. The majority of them are over $1 million. Here’s a great example. One guy borrowed money from his brother-in-law to build a spec home on the inter-coast in Fort Lauderdale. He goes to me ”I need to get about $1.5 million out to pay off my brother-in-law and finish the home”. That’s okay probably because the home is going to be appraised to $3.5 million, $4 million. So we’ll be able to get that guy his mortgage. He wants to get a bank loan. Most of the banks are getting out of the construction business so it may be that it ends up that it’s a quasi bank loan, maybe it’s a private lender that we then turn into a bank loan once the house gets completed and he maybe wants to market it for sale for a while and take some time to do it instead of having a gun to his head. We can work on that for him. That’s where it’s a spec development. But the person I’m running into the most is my friends that are the high end developers and they have loomey cash flow. Most of its capital gains. So what does that mean? That means they need somebody to craft the financial statement for the bank that’ll help the bank understand the nuances of the cash flow that the person has. It won’t be easy, it takes an expert and that’s why I teamed up with Bob because Bob is an expert.

He works will Milvia, you’ve heard me talking about Bob and Milvia and if I can help you with your bank loan for your home, just give me a call 305 773 6300. I’ll keep giving out the number throughout the show so have your pencil ready. We won’t go slow for the Jets fans this time because even the Jets fans need a home loan, we’re going to treat them just the same. So we’ve got a whole bunch of different people, we’ve got people that qualify for an easy loan with their current bank or their stock portfolio holder. Here’s a great example, Four Nationals. Those are our specialties. Bob cut his teeth doing loans for Four Nationals on condos. You think Bob’s expertise is going to come into the market place and a be a little bit valuable coming up? You’re darn tootin’ it is. In fact, one of the reasons I teamed up with Bob is because I had a developer approach me that’s doing some extraordinarily high end condos. Some of the condos in this person’s project are more than $20 million.

I went up to the developer and I go ”How can I help you?”, he goes ”Find me a piece on the sand that I can buy and develop a condo”, I go ”Next”. He goes ”Find me some cash flow real estate that I can buy in South Florida at a reasonable price”, I go ”Next”, he goes ”Well,”, I go ”What problem do you have?”, he goes ”I’ve got people that are going to close all cash on these units, they’re going to turn around, they’re going to want end loans”, he says ”I’m the developer, I’m selling them all cash, I can’t offer them end loans”. He said ”Do you know anybody who can?”. I said ”Yes, I have a couple of ideas”. I called a friend of mine that was at the bank. He said his bank he thought covered the building. They didn’t. So that was one indicator. Then I called my friend Bob. He goes ”Yes, we can probably make a couple of loans into there, we want this, that, and the other”, and I said ”Okay, fine”. And I went to the company that I was at before and I said ”Let’s work on this as a program”. They actually didn’t want to do that, it turns out.

But as I see it, it’s a great opportunity. It’s just the leading edge of what’s going to be a tsunami of residential financing required. So I left and I teamed up with Bob. And Bob and I are out there and we’re quoting on this building and others. So if we can help you with a loan on your home, a loan on your condo, a loan on a home that you’re building, your second home, most it’s got to be pretty much in Florida, Keys, Sarasota, it doesn’t matter, but probably not Colorado, give me a call, Jim Fried at 305 773 6300. What’s another loan we looked at? A great loan that we looked at was, it’s an eightplex, it’s a cash flowing eightplex up in Fort Lauderdale by the live work area that’s starting to develop in the Flagler Village neighborhood. It’s an eightplex, it’s probably a redevelopment site down the road and the person was under the gun.

They needed to close in ten days. We gave them a quote, no problem, taken a loan, going to do the deal. And we helped them save their deposit. They had a 50% deposit up, huge money, couple of million bucks. And they didn’t want to lose that. So we were able to come in and lend over that and give them a mortgage based on the leases in place and where our appraiser says the property’s worth. It took us a couple of hours. What does it take? It takes for us to go out and drive the property, go over it, take a look at some of the comps, make some phone calls, same day we’re going to give you a quote. So that would be what I would call a hard money loan, not the bank loan, that would’ve been a hard money loan. So you have all kinds of different, I hope Bruce Turkel is listening because Bruce wanted to know what a hard money loan was. I don’t want to confuse Bruce. So there’s all kinds of different loans that you can get on the – I’ll use the word again – the spectrum of mortgages. I love that, I’m going to keep using that. I have to pay Bob a nickel every time I say that. And we’re going to talk about other things that we’re doing, other things that we’re seeing in the mortgage market for residential loans.

And we’ll also talk a little bit about Vivian too. Vivian and I were interviewed by Christy Kruger of Channel 10 this week. We’re going to be on Channel 10 not this week, not next week but the following week. And we’ll have Vivian’s story actually had to go around the corner. While Christy Kruger was interviewing Vivian I had to have a good cry because it really broke my heart to listen to her telling her story about how her body image consciousness contributed to her situation that she now needs to have a kidney transplant over. It’s an ”only in Miami” story. It’ll be on Channel 10 with Christy Kruger. You can watch our Facebook page and our fundly page and look for us. People that want to do things, they can go online and go on our page and they can even register to donate a kidney. Email me that you want to donate a kidney and I’m happy to help you reach the highest point that a human being can. So we’re going to be back in a second. We’re going to talk more about some of the deals that I’ve been seeing in the residential field, what I’m seeing the market says about those deals, what all that means to you. It’s going to be great info you can use today to help your life be better. We’ll be back after this. Wanda, take it away.

[commercial break]

Jim Fried: Rocking it with Wanda on 880 and the King. I was just doing a little Facebook post there. You guys are the greatest. If you can only see what Wanda goes through with me on every one of these shows. She’s just absolutely the best. Now, what were we doing? We were talking about the residential real estate market and in particular, the finance market. And you go: ”Jim, you’re Mr. ”$3 billion worth of real estate deals”, what are you doing with the real estate finance market?”, and I’m going ”People need my help. People need help. And that’s why I’m there”. You go ”Jim, how’d you get the idea?”. Let’s talk about that for a minute. The reason I got the idea, is this thing [inaudible 00:21:28.04] please go on pause. We’ll be posting the Facebook photo after the segment. Make sure you take a look. It’ll be me and Wanda rocking out to the King. Larry, you’re not in the photo, get the heck out of the control room. Now, you say: ”Jim, how’d you get the idea to be in the residential mortgage business?”. I went up to my friend. My friend said: ”Jim, I’m closing all these high end condos, they’re all closing cash and a lot of them are asking me can I help them get a loan”. He said ”I can’t.

All the contracts are cash. But if they need a loan, can they call you? Do you know anybody?”. And I go: ”Let me make a couple of calls”. I found a bank, I called my friend Bob at Spectrum and I said we’ll try to do that at my old company. And it didn’t work. I didn’t have the support that I needed from an institutional aspect. And so instead of doing a large deals that take a couple of years – I’m still going to do those – I got to find something that happens all the time. Because, let’s face it, Vivian’s kidney transplant, I got to finance that thing, we got to get the money to do all that. I’m taking her up to Johns Hopkins at the end of the month. So we’re setting all that up and I want to thank my friend DC from Orlando for helping us out with the travel. Thank you DC. And we’re going to go up to Orlando. We got a lot of people that are involved and want to help us with our trip to Orlando and other things. Everybody said: ”Jim, how do we help? What do we do?”. You donate a kidney and nobody did but they did offer to get tested. So far nobody’s passed the rigorous tests that the different places have put them up to. And I’m going to get the transplant number.

We’ll have that for later on in the show. In fact, if Vivian is listening, text me the transplant center number honey. And what we’ll do is we’ll go in and people wanted to do stuff and so they’re raising money. We’re raising money and we have a page on Just look for the Vivian Fried page and soon we’ll be switching over and raising money generally for everybody in the kidney world. Right now we’re still doing it to help Vivian, protect Vivian and I think the hashtag is #showvivlove. And that’s all that. But let’s talk more about the residential mortgage business. So I said ”I need to make money right away. How can I do that?”. I can work with Larry Zinn and sell cars, you can make a lot of money doing that, or you can do, you spec my real estate expertise. I said ”Let’s do these residential mortgages. Some of them are quite big”. Some of them are 4, 5, 6, 7, I’m working on one that’s $8 million right now. An $8 million loan, even if the fees appoint that’s a lot of money. And for that, what does the individual get? The individual gets personalizes service, we walk them through, we help them understand all the different quotes they’re getting and why they’re that way, we take the person’s regular income, that person needs the $8 million loan does not have ordinary income, most of it’s from stocks, capital gains and dividends and things like that, he owns a bunch of real estate, has a bunch of pass-through losses, so he doesn’t show positive. So you go ”How does a guy that doesn’t show positive get a loan?”. It’s not very easy.

You need somebody who knows how to navigate the system and that’s what we do at Spectrum Mortgage. If you want to learn how to get the loan for your home that you need, let me help you. Jim Fried, let Jim Fried help you with your residential mortgage, 305 773 6300. You heard me. I’m still shifting gears. I’m working on a lot of commercial stuff too. I had a guy come up to me, can I help them raise $6 million for a $25 million apartment deal that he’s buying up in Tallahassee. I said sure. Because the same people that do the private mortgages with us also invest larger dollars with developers on a problematic.. I don’t want to get ahead of myself. They like to do real deals with people that are good. So if you got a good person and a good deal, that’s great. If you got a bad person and a good deal, that’s a bad deal. But getting back to the home loan, you know the home loans range from anywhere from below 3% to as high as the 8’s, 9’s and in some cases beyond that depending on the person’s risk profile and the amount that they want to borrow. But what’s the most important thing you need to know? You need to know that it takes about 10 pounds worth of paperwork to get one of these done. So you need somebody that’s putting it together, that takes out all the different nuances, that knows this bank does this way, this bank does it that way, we take you on dates to the banks that we know are in the market.

There’s only five or six, believe it or not. If you’re not going to do your deal with the preeminent money center bank remaining Wells Fargo, then you’re going to have a pretty catch-as-catch-can situation other than that. And I want to thank by the way my friends at Wells Fargo that did participate in supporting Vivian. We’re very good friends in their real estate department, a participator, I want to thank them so much. So that’s what we’re talking about. We’re talking about the loans and they are out there. I talked about the fact that I have a developer who’s buying something, $7, $8 million on the gulf course, on the water. But he has a regular income so he got seller financing and he’s going to work with us to help him put the end loan together. Another friend of mine, one of the big real estate developers in Downtown Fort Lauderdale actually, in Flagler Village, one of the guys that assembled the bunch of land and everything. He’s got a number of friends that need residential mortgages. You say ”Why does a guy that assembled a bunch of sites have friends that need residential mortgage?”.

That’s real estate, we stick together. And a lot of his partners in deals are looking to get low loan to value mortgages because they have irregular income that’s mostly this capital gains and loss-carried-forward stuff. It’s not easy. And now I know I’m confusing myself, I’m saying loss-carry-forward and all this other crazy stuff. But what you have to know and have to remember is that if you need a home loan or if you need a loan on a home that’s being built somewhere, just give us a call, Jim Fried, you can call me at 305 773 6300. That’s 305 773 6300. We’ll educate you, we’ll help you figure out what it is you qualify for, why you qualify for that and we’ll help you understand why you’re making the right decision. I like to say I want to be the Sy Syms of real estate. What a great brand that guy was. All he wants is the educated consumer because the educated consumer is the good customer, the best customer, because they know when they’re getting a good deal. That’s all I want to do. And I want to lay out the alternatives in front of you, have you decide which ones work for you and then let’s move forward like rapid speed and get you what you need.

The most important thing is quality service, treating you right, listening to what you need and giving you what you need. It all starts with service, it starts with using the ears twice as much as the mouth, using the eyes twice as much as the mouth and trying to figure out how we can help you. Wanda, you’re giving me the look, how much time do I have left? You’re not giving me the look. You gave the single finger. You better be T-ing up some good music for us in the next segment. My feet are ready to dance and I know there’s lots of people on the highways that are not having too good a time. In fact I’ll turn around. Actually the Walmetto was moving pretty well here south of the airport. So if you’re going west on the Walmetto it’s not so bad in 57th Street right now.

Wanda: Look at the plane.

Jim Fried: Thank you. It’s taking off and it looks like.. there’s two of them, you can’t see the other one. It’s awesome. People need to come in and watch the show, watch the planes, watch the cars, watch us. It’s a great peanut gallery circumstance. If you want to come watch the show, you can call me about a mortgage too at 305 773 6300. We’re going to throw it to Wanda, we’re going to come back, I’m going to talk about the different deals that I worked on this week and talk about what I learned on each one and how each one of them can help you learn something today that you can apply now to make your home loan search better. Wanda, it is yours, and I’m ready to rock.

[commercial break]

Jim Fried: I got to tell you, the new studio is great. I got a TV, given me real time TV, I got a real clock that tells me when I’m on the air, it’s not like an alarm clock anymore. So well done to Larry for putting this whole thing together. If you could just get the internet to work it’d be just terrific. Now, we’re going to go back. We’ve been talking about the residential mortgage market. If I can help you at all with your home loan please give me a call, Jim Fried at 305 773 6300. I want to talk a little bit about some of the deals that I’ve already seen. I have a very good friend. He owns three of four different homes, all cash, couple in the Keys and couple up here. And he’s getting ready to buy what’s going to be his retirement home or they’re going to come in and roll him out to the rest home out of this place. He’s done after this. And what’s he going to do? What he’s going to do, he’s going to come to us, he needs us ”Jim, I need a loan no problem”. No you can’t. You’re small business owner, you flush with cash but you have a regular income.

And that’s the big issue. The majority of your cash is because you sold the big building that you owned in Aventura last month. So now you got all this cash but you don’t show any real income. You need to have somebody help you craft the presentation to the bank and if necessary, just another type of lender, a private lender. This particular private loan with a gentleman like this would be not in the 10’s. It would be much lower than that. So we can help you out at the broad spectrum, everything from below 3 to hard money for you commercial with two digits in front of it. What else have I seen? I saw a friend of mine that’s one of the big lawyers up in Fort Lauderdale. He owns a house in the Keys, a house in Colorado but he rents. He rents in Downtown Fort Lauderdale because he loves the flexibility. He’s like the oldest Millennial, actually. I like to think I’m the oldest Millennial.

What he found out, he called us, he goes: ”I can borrow from my UBS stock fund at LIBOR plus nothing”. And we go ”That’s the deal you should take, you should take that deal”. But that guy’s had regular income for many years and he’s low cash mortgage that he wanted and he’s got all cash he owns, the other stuff all cash so it was a really easy deal to figure out. Another guy I met with, actually he’s building a home in the Gables for his son. And his son is basically running the contract – I’ll just have to say it this way – out of the back of his truck. He has an AIA contract but he’s self-performing. That’s a little bit of an issue for a lot of different lenders. And he borrowed the money from his dad to start building a home. Now his dad says the son’s far enough along, he’d like to take some of the money back and the son should learn what the financial world is all about without him. That creates a couple of problems. Number one, the kid doesn’t have a financial statement; number two, the kid doesn’t have any money. What does he have? He’s a great asset but he owns all cash. We can help that gentlemen monetize some of the cash in that project, pulls a little bit of it out, pays off his father, finishes the project in there.

He’s got started and he’s done it on his own basically, he’s got great credit, it’s a great solution. This is all about solving problems for people, people like you, for your home, for your first home, for your second home, for your third home. We’ve got people doing it for the fourth home. I have one deal I’m working on, it’s an $11 million home, the person wants to borrow $5 million. It’s on the water in the inter-coastal in Fort Lauderdale. Boat slip in back, he uses one, he rents one. Why a guy who has an $11 million home, I don’t know why he rents the boat slip, I guess that we all got to make money somehow. And he’s running a boat slip and that creates a little income, all of the rest of his income is from one thing he does every year. He has this big event that he throws out in Colorado every year so he has one spike of income every year. And what happens if that doesn’t come off like it happened last year? And he has a down year. He’s got to take all that a new account, he’s got to show a number of year of income, you got to show.

How that’s all going to work. You got to have a little home cooking, you got to know what the bank is looking for you, you got to know the credit officer at the bank and you got to know what’s important with that credit officer and what’s not. And each one is different, each one has their own issues, their own bias and you’ve got to know how to navigate those rocks and get the deal done. And it takes about 12 to 15 pounds of paperwork to do this. Yes, even in the internet age you’re going to come in with a real barrel of paperwork for these guys. So you need somebody to help poach you with that. Because in the end, what happens if you went in and you got, you wanted a 30-year fixed and you got an interest-only arm and you got to close today. Well, you’re stuck. You just don’t want to have that happen. And he said ”That really happens, it darn-tootin’ it does”. It happened to my friend a couple of weeks ago. She goes ”How come you didn’t tell me?” We’re having a changing at the guard over on the other side of the glass, Wanda’s been rocking the show for the first half, AC finally decided to show up and now he’s going to take us through the second half. I hope you have good musical taste too because AC, Wanda’s been picking good stuff. That German funky music and then we had the King in here before. So we’re going to leave it up to AC to figure out what he’s going to do.

AC: So basically, it’s the board out music picks today.

Jim Fried: Today is board up music pick. And since you’re in all that Caribbean stuff, I’m throwing down the gauntlet for you, AC. I want to hear something that makes my toes pop, my fingers tingle. I couldn’t say my toes tingle and my fingers pop. But I do want to have a great time. So what do I do? I decide I’m going to get into residential mortgage business. Why? You say people are buying all cash. Yes, people are buying all cash, they close all cash. What’s the next thing they do? They turn around and go: ”How can I get some of this cash out of this house? It’s not making me any money in the house. How can I get it out and deploy it?”, and they want to get a loan. They don’t need to be aggressive, they can be real conservative. And they’re still going to have trouble getting a loan because there’s dirty words out there. It’s called ”cash out”. Cash out refi? We’re not really looked upon to favorably by a lot of lenders but we know the ones that’ll do it.

We can get it done for you and we can get it done for you with hopefully the lowest cost. We’ll help you get educated like I said earlier, I want to be the Sy Syms of residential real estate, I want to be somebody that the realtors can depend on to finish their deals for you, the client, the buyer. Basically, I’m going to have three clients here, I’m going to have the bank or the lender, I’m going to have the borrower and I’m going to have the borrower’s realtor. Because the realtor, they got a lot of money riding on this. Are you listening to this, guys from the show prior to this? We can help people like the team do this stuff. And we’d love to be a part of your team. I’m meeting with realtors all the time and it’s just an amazing thing. People don’t realize how tough it is or how simple it can be if you work it the right way. And so it can be a jumbo mortgage, a super jumbo mortgage, all I’m looking for is a non-conforming mortgage. That’s a mortgage that the bank just can’t do on its regular basis on its own inside of its guidelines and then resell into the public market. So if we can help you with your home loan, your investment real estate loan, a loan that’s high leverage, that has to close quickly, maybe you need equity in your deal, maybe you’re looking for a partner. One guy called me, there he goes ”Jim, I don’t need a loan, I need a partner”. I go ”What are you doing?”. He goes ”I’m buying three properties..”, real good AC, I heard that. I sounds like we’re getting a little bit of a zydeco going on in there. Did I use the right term?

AC: You got it.

Jim Fried: Look at me. I grew up in Miami and I just proved it. So we’re going to help people get these loans on commercial. So the gentleman, he’s doing this loan up, he’s buying three buildings on Clematis, he wants to take them and break them up into different units, it’ll have some retail in the bottom and some office on the top and we can help him do that. In fact, I’ve got two guys that are interested in being his partner. So we’re going to talk to him tomorrow about all that. So we got the zydeco queued up. You’re going to know that Wanda, the funkydelic machine is leaving and we got the zydeco dude on the keyboards. AC is cracking up. AC, how come you didn’t call Larry on that choir?

AC: You know what? I was already at an appointment so I said ”Let me just go”.

Jim Fried: Good thing you dropped that. Play the zydeco. You ain’t got no good answer to this. We’ll be back with more great information you can use – bye-bye Wanda – you can use right now today to help your family live a better life in their home. AC, prove to me you got good musical taste.

[commercial break]

Jim Fried: We got the final segment here and we’re going to do some video. We’re going to talk a little bit about Vivian. I talked earlier about what’s going on with Vivian. We need to find more potential donors. If you’re willing to give the gift of life to Vivian Fried, you can dial up the Miami Transplant Institute at 305 355 5433. Again 305 355 5433. The Miami Transplant Institute. We’ll give the number again. Vivian needs the gift of life. We had Christy Kruger from Channel 10. Vivian’s story will be up on Channel 10 in a couple of weeks. We’re going to be putting up a billboard here in Miami Dade sometime real soon. We’ve been raising money to save Vivian. The hashtag is #showvivlove. You can go to Many people have asked me ”Jim, how do we get involved and support Vivian?”, I say ”You can donate a kidney by calling the Miami Transplant Institute at 305 355 5433. Lots of people have been getting tested. And Facebook has been a gift. I haven’t even put this up on the email blast because I’m waiting for people to get stabilized after the Memorial Day week.

So next week Sandy Abbott is going to help me and we’re going to put out an email blast that’s going to talk about how people can either donate a kidney or donate some cash to help Vivian travel and help alleviate some of the ridiculous expenses that I’m having to deal with with this stuff., that’s where you hear the story, that’s where you see what’s going on. You can call the Miami Transplant Institute at 305 355.. let me go again 305 355 5433 is the living donor testing line at the Miami Transplant Institute. Call them, tell them you want to be tested to be a donor for Vivian Fried. You do not have to match. All you have to do is be a donor. If you’re a living donor, we can pair you with another living donor that does match Vivian. And then two people get the gift of life. Two people can get the gift of life. So imagine how great that would be. And I got to tell you, my wife is having trouble. She takes medication that’s really having some interaction issues. It’s really tough on her. My wife is a champ, my wife is wonder woman, my wife is King Kong. She’s un-freaking-believable.

Let’s just say this – she’s married to me. Come on. So that woman puts up with a whole heck of a lot and she still can do all this. So please help me find the love of my life a kidney transplant for crying out loud. Put it on your Facebook, go to For goodness sakes, you can go to, You see the widget that’s on there. It tells you how to donate, who to donate, what to donate, what’s going to happen. We need you. This woman who is a rock of goodness needs your help. She’s spiritual, kind, loving. Please help her. Please help this woman. There’s absolutely nothing more I can do. I’m doing everything I can and I need your help. Go to Up in the right hand corner there’s a little widget. It tells you how to help us. Please, we need your help.

I want to thank everybody. I want to thank people that are listening. I want to thank the people at the Miami Transplant Institute. I want to thank the people that have tried to become a donor that just didn’t make the cut. You basically got to be perfect. It’s unbelievable. But I get wonderful, spiritual people that talk to me every single day about this and we’re going to come through together as a community, as a team. We’re going to save this lady’s life. Follow me on Facebook, LinkedIn, Twitter. You got all the links you know, Jim Fried J-I-M F-R-I-E-D. How hard is that? Our sponsors, South Florida Business and Wealth, Magnum Energy Solutions, the Miami Marlins, Warren Henry Automotive, University of Florida Center for Real Estate Studies, you can tell I left all my material home so I’m doing this all from memory. I love all my sponsors and I know they love my but the people that are most important are you, the listeners. The people that need home loans, the people that can help my wife with her kidney disease, everybody can help. We all pull together, we’re all going to help Vivian. #showvivlove. AC, it’s yours. Thank you everybody, I love you all. Thank you for #showvivlove. We love you. God bless.



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