Hard Money Bankers - Pay Yourself First
Tuesday, September 27
I have always heard this saying from financial advisers but never really understood it. What does it mean to pay myself? After reading 'The Richest Man In Babylon' it became very clear. I have always been a pretty decent investor/saver of money, but the way they describe it in the book makes i...
Funding Construction
Monday, September 26
Sometimes I take for granted that not everyone has used or is familiar with hard money. I can accidentally skip over some of the key points in conversation when asked about how it can be used. Most of the time our clients use us for acquisition and construction funding together. This tends to ...
Are You A Buyer Or Seller?
Thursday, September 22
I heard this question from a hard money conference speaker a few years ago and realized he was correct when he stated there are only two kinds of people in the world. He believed that there are either buyers or sellers. This doesn't mean that if you are a seller that you are literally selling p...
Evaluating Properties - Tip 5 - Double Yellow Lines
Wednesday, September 21
Do you want to live next to a highway , a coal mine or industrial factory? Most likely the answer is no. If you are trying to sell your property near one of these places, chances are other people will not want to live there either. We call these "double yellow lines". These are factors that al...
Evaluating Properties - Tip 4 - Condition
Tuesday, September 20
This is an area of evaluating a property that most people really miss the boat on. In general we have found there are 3 levels of quality that a property is normally sold as. There is the high end retail condition which is completed by your experienced flippers that are full time investors. Th...
Evaluating Properties - Tip 3 - Style Of Property
Monday, September 19
The style of a property has a lot to do with the end value. The easiest ones to figure out are in the suburb cookie cutter neighborhoods or in the city where the same row homes exist. For example, if you are in the suburbs and are looking at a colonial, you do not want to use a cape cod as a co...