High Comp Vs Low Comp Mentality
Monday, August 08
What do you mean a property value can have two different values before it sells? How can one appraiser come to a property and tell you it is worth one price and another can be 10-15% different on the same property? How can one investor say a property is worth $250,000 and another say it is wort...
How Same Day Approval Actually Works - The Reality
Friday, August 05
A very frequent question we get at Hard Money Bankers is ''How does same day approval work?" The reality is, it depends on the lender. If you are dealing with a local lender, they should be able to confirm the project based on acquisition price, construction numbers and address. 90% of the of...
The Power Team Explained
Thursday, August 04
In real estate investing many gurus teach about getting a 'power team' in place before starting. The power team is the group of professionals you have as experts in each part of your real estate investing business. What I have learned over the years is that a power team is built out of experien...
MLS - The Ultimate Weapon - Hard Money Bankers
Wednesday, August 03
Many people call me with to discuss the repaired value of their flip that they are looking to buy. What I usually hear are evaluations based on really weak data systems or methods. It is not through a lack of desire to know the value, but rather a lack of knowledge. Usually people are basing t...
Skin In The Game - Gross
Tuesday, August 02
When you think of it , that is a pretty gross saying. I am not positive as to where exactly it came from. I am sure I can find out by using the magic of Google but I won't. What I do know is what it means for real estate investors and why it is needed. Having 'Skin In The Game' is saying that...
Love/Hate the Player Not The Game
Tuesday, August 02
Success or failure in any industry is not determined by the industry but the operator. Have you ever noticed that every single kind of business has successful and unsuccessful companies? Many times you will hear struggling companies blaming the market or the industry they are in as to why thing...