Today we’d like to introduce you to Jeff Ali.
Hi Jeff, thanks for sharing your story with us. To start, maybe you can tell our readers some of your backstory.
Snap Lending was founded in Jan. 2018 by myself and my business partner Nick Ahmed. We have known each other since we were kids but had lost touch as he moved to Katy, TX. We ran back into one another once our kids were going to school together in Sugarland, and we both would run into one another and chat about the different real estate endeavors we both were into. Nick had this idea for a business model, once a renter at one of his properties asked if they could buy the home they were renting from him. They told him they did not meet the bank’s requirements for the loan, even though financially they were qualified. Nick learned the processes needed to create the process needed for financing the home to the renter and the idea was born. He later brought this idea up to me about doing home loans for individuals who had the means but don’t qualify. At first, I was very skeptical, just didn’t seem right since banks wouldn’t approve them, why would we.
I wanted to test the model and we did our first deal in 2016. It was a home on Beechnut and Hwy 6. We did the loan and in 18 months the client sold the home and we were able to capture our principle and make some money along the way. The idea, now a proven concept, was something we both really enjoyed working on. Not to mention, in Nick’s words, It’s always more fun to make money with your friends. The process overall was really fun and a great learning experience for me. It was at that point I asked Nick how we can turn this into a business. We met for the next 3 months putting together all the proper strategies to take this to the next level. In Jan. 2018, we started Snap Lending. On Jan 15, 2018 we did our first deal and that client is still with us today. Fast forward to today, Snap Lending is now Texas’ premier private mortgage lender with over 160+ deals done in four years. Helping families who never imagined they could be homeowners achieve the ultimate dream of becoming a homeowner.
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
Nothing in life is ever smooth. Some hurdle we had to overcome was Covid. No one saw that coming. While covid impacted everyone, at Snap Lending we looked to help our clients by helping differ mortgage payments for those in need to the tune of 200k+ dollars. It was a great feeling for us to be able to do that.
Alright, so let’s switch gears a bit and talk business. What should we know?
We specialize in loans for individuals who don’t qualify for traditional bank financing for mortgage loans. Individuals who are Self Employed, ITIN, Foreign National, Stated Income, Bad Credit, No Credit. No Problem.
No other lender can do loans for the individuals listed above like we do.
We are very proud of all the families we have been able to help. It’s wonderful to see the joy on their face when they receive the keys to their home. Many of them never knew they had the ability or chance to do so. That for us is the best feeling.
We are very proud of our brand. If you visit our Instagram (https://www.instagram.com/snaplendingtx) or Facebook (https://www.facebook.com/SnapLendingTX) we have worked very hard to promote and share our programs with the many people who deserve the right to home ownership and provide them an opportunity to do just that.
In April 2022, I won the battle of the lenders in Houston, held by NAHREP. It was the greatest feeling that so many believed in our program and what we offer, and the win of course! Lol. It was an amazing feeling.
Risk taking is a topic that people have widely differing views on – we’d love to hear your thoughts.
Everything you do has a risk, in this case. It’s real estate. You try your best to calculate the risk and mitigate it as much as possible, but no one knows what is on the horizon. Example: Covid or Wars or Interest Rates many other factors can affect your business. We do our best to be prepared for anything that comes our way. We do our best to stay very simple as a company. Also to watch for daily market trends or adjustments and get ahead of the curve instead of falling victim to any issues that may arise. Nick is very good at planning for all occurrences. I really appreciate that about him. He is always planning in the background to ensure we are safe from anything coming our way.
Contact Info:
- Website: www.snaplendingtx.com
- Instagram: https://www.instagram.com/snaplendingtx/
- Facebook: https://www.facebook.com/SnapLendingTX
- Twitter: https://twitter.com/snaplendingtx
Image Credits
Photo Credit: Melissa Hurtado Company: Artistic Initiative
