Growing the Money with Rich Lennon

Episode 74: The Secret Fees Closing Companies Are Quietly Charging You (And Getting Away With It)


Listen Later

Ever wonder why your payoff amount is higher than you expected, even when you close on time? The truth is, most borrowers and lenders are getting hit with hidden fees they don’t even know exist. Closing companies are quietly padding the bill, and it’s costing investors thousands in unnecessary interest.

In this episode, Rich Lennon exposes how closing companies’ internal mistakes and slow processes end up costing you real money, and what you can do to stop it. If you’re a lender, flipper, or real estate investor, this conversation could easily save you $1,500 or more on your next deal. Don’t miss this one, it’s time to reclaim your power and your profits.  

You’ll Learn How To:  

  • Spot the hidden costs that closing companies never disclose  
  • Avoid unnecessary interest charges that eat into your profits  
  • Ask the right questions before closing to protect yourself  
  • Understand how wiring delays and overnight checks quietly cost you money  
  • Choose title companies that prioritize your money, not their convenience  

Who This Episode Is For:  

  • Real estate investors and private lenders are tired of surprise closing costs  
  • House flippers frustrated with delayed fund transfers  
  • Anyone looking to protect their returns and take control of the closing process  

Why You Should Listen:  

Most investors lose money not because of bad deals, but because of small, hidden costs they don’t even notice. This episode reveals how to prevent that, giving you the clarity, confidence, and tools to make sure every dollar you earn actually ends up in your account.  

What You’ll Learn in This Episode:  

[00:00] Why hidden title company fees are quietly draining your profits  

[02:00] How delayed wires and overnight checks add costly interest days  

[05:00] The importance of asking payoff-through-date questions  

[07:00] Why most title companies don’t trust their own wire process  

[09:00] The $1,500 mistake that borrowers and lenders keep repeating  

[10:00] How to protect yourself and choose the right closing partners  

Follow Rich Lennon here:
Website: https://richlennon.com/
Facebook: https://www.facebook.com/rich.lennon.121
Instagram: https://www.instagram.com/richlennon92/

 

...more
View all episodesView all episodes
Download on the App Store

Growing the Money with Rich LennonBy Rich Lennon

  • 5
  • 5
  • 5
  • 5
  • 5

5

143 ratings


More shows like Growing the Money with Rich Lennon

View all
BiggerPockets Real Estate Podcast by BiggerPockets

BiggerPockets Real Estate Podcast

16,781 Listeners

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business by The Rich Dad Media Network

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

3,866 Listeners

Creating Wealth Real Estate Investing with Jason Hartman by Jason Hartman

Creating Wealth Real Estate Investing with Jason Hartman

539 Listeners

Get Rich Education by Real Estate Investing with Keith Weinhold

Get Rich Education

604 Listeners

Main Street Business by Mark J Kohler and Mat Sorensen

Main Street Business

587 Listeners

Passive Real Estate Investing by Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

Passive Real Estate Investing

973 Listeners

BiggerPockets Money Podcast by BiggerPockets

BiggerPockets Money Podcast

3,083 Listeners

Real Estate Investing with Coach Carson by Chad Coach Carson

Real Estate Investing with Coach Carson

616 Listeners

Ken McElroy Show by Ken McElroy

Ken McElroy Show

721 Listeners

Real Estate Rookie by BiggerPockets

Real Estate Rookie

1,841 Listeners

Directed IRA Podcast by Mat Sorensen and Mark Kohler

Directed IRA Podcast

166 Listeners

BiggerPockets Daily by BiggerPockets

BiggerPockets Daily

329 Listeners

The Short Term Show by 8 Figure Airbnb and Short Term Rental Real Estate Investor Avery Carl

The Short Term Show

451 Listeners

On The Market by BiggerPockets

On The Market

900 Listeners

The BetterLife Podcast by Brandon Turner and Cam Cathcart

The BetterLife Podcast

839 Listeners