Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 3 months ago on . Most recent reply

User Stats

5,702
Posts
8,835
Votes
Don Konipol
#1 Wholesaling Contributor
  • Lender
  • The Woodlands, TX
8,835
Votes |
5,702
Posts

Borrowers: what they say…….and what they mean

Don Konipol
#1 Wholesaling Contributor
  • Lender
  • The Woodlands, TX
Posted

Borrowers: what they say……..what they mean

1. I’ve established a class A “team”……….. I finally got an attorney to work without a retainer

2. I’ve got extensive experience in multi family residential ………………. I live in a rental apartment in a large complex

3. I have 15 years experience in real estate …………….I own my own home

4. I’m buying the property with equity partners…………..I don’t have any money personally to invest

5. I’ve syndicated my last purchase………………I got my mother and father to provide an early inheritance 

6. The property cash flows at a 15% ROI…………………..before insurance, debt service, utilities, management, vacancies, repairs, maintenance, payroll and property taxes

7. Tax returns for the property are unavailable………………tax returns show consistently large loses

8. Here is the pro forma financials for the property……………they assume 150% occupancy and a 150% rent increase 

9. Here is my business plan………….copied from another business with the old name not changed in some places

10. I plan to self finance and do all needed repairs myself ……….. I have no money to do repairs and no clue how to get any 

  • Don Konipol
business profile image
Private Mortgage Financing Partners, LLC

Loading replies...