The process of driving targeted subdivisions with the intent of locating “for rent” or “for sale by owner” signs, distressed and/or abandoned properties, that’s what we’re doing it for. We want to see if there’s any deals out there that maybe we’ve missed. When driving for dollars, there are several red flags you should pay attention to.
When I got involved in real estate, I was working at a grocery store. I was earning $3.90 an hour, which meant I didn’t have any money. My credit cards were maxed out because I was using them to put myself through community college. I had nothing. So, how did I get involved in real […]
It’s when a wholesaler puts a property, normally distressed, under contract and assigns or resells the property to another investor. The end buyer investor uses cash, lines of credit or hard money loans to close on the transaction, which allows for quick closing on properties that sometimes need repair. Here’s what’s really great about wholesaling. […]
This is me and some of my most successful clients and partners golfing today at the famous Coeur d’ Alene gold club. The times have changed, but the real estate climate remains profitable. What’s more, is this week has given me an opportunity to reflect. Today, 7 people have joined me here in Coeur d’Alene […]
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 […]
This is an excerpt from the new book “How To Master the Art of Brokering Residential AND COMMERCIAL Private Money”: To understand private money brokering you need to understand relationships among the three key roles, why they are involved in private money lending, and some key characteristics that can help you find likely prospects. In […]
Yesterday, we talked to Bill Koder about how to ensure that the borrower and the broker do their part to make sure that loans close quickly. They key was organization and timely delivery of the necessary documents. Today, let’s take a look at what “loan processors” do seeing that they’re also key to getting your […]
I caught up one of our loan officers; Bill Koder, during one of his working lunches today here in the office, and we had a brief discussion about what, in his experience, are the most common things that slow down a closing. Read more for the transcript. Read more for the transcript. Click here for […]
A real estate investor identifies a great real estate deal in a good equity position. The real estate investor puts the deal under contract and fills out an easy one page application, which you can view at www.cogocapital.com. COGO Capital then reviews the application and contacts the real estate investor for additional information. COGO capital […]
