Did you attend my CEO fireside on Monday? Pop quiz: What did we talk about? Well…it’s a question with many answers (lowering your credit card interest and raising the limits, leveraging your financial situation to position yourself for better rates, and much more…) But what event did we discuss? Funding Tours. […]
FAQs Let’s address some of the most frequently asked questions! Question #1 “Once I find a good deal and have it under contract, where can I find the hard money required on both a local and a larger scale?” First of all, thank you for wording your questions in such a manner. Your first step, of […]
Wow. 2017 was amazing! Here at the offices of the Lee Arnold System of Real Estate, we relocated into a larger building, broke company records, ushered so many amazing people into our world from all over the country, helped thousands of people, opened a new area of study (the Master Lien Abatement Course), […]
Did you know… An Equity Fund wants to Pay for Your Tuition to Attend the Funding Tour?? This is like NO other real estate investing training event you have ever attended. Our goals are to (1) explain how to find investment-grade properties that we can fund quickly and easily, (2) introduce you to […]
It’s hard to understand the dos and don’ts of hard money lending when you don’t know what it is. First, let’s review the private lender basics. Private Money Lending: Private money lenders (or hard money lenders) give short-term loans to a real estate investor looking to purchase a non-owner occupied property. Instead of looking […]
What’s Your Side Hustle? Whether you’re sick of being broke and are looking for a side-hustle (and don’t want to sell products to your friends and family or try driving for Uber) or you flip houses and want to increase your cash flow by adding another stream of income without doubling up on your […]
Do you have an elevator pitch? Imagine this, you’re a private money broker at a real estate event, waiting for the appetizer plate to make the rounds when the person beside you turns with a smile, and introduction of their name, and this question: “So, what do you do?” You have 8 seconds to […]
This is the most common way to get a hundred percent financing. This is where the current owner agrees to finance all or some of the purchase price. If it’s just some, you can get the remaining amount from Cogo Capital or another local private lender in your market. If you have the financial or […]
The borrower’s reasons would be: You either want or need a quick close You need funds for a short period of me You have a weak credit or income documentation o Weak credit score o Weak income o Need to pay a judgment, late payments, tax liens, et cetera. The Property reasons would be:
While institutional lenders are very picky about the borrower and the property, private money lenders look at the appraised value, the borrower’s experience; not credit, the equity in the property, and the exit strategy. All conventional banks are going to underwrite you as a borrower. Private money lenders underwrite the deal for the collateral or […]
