Hard Money Bankers - Evaluating A Deal
It is amazing how much can be said with out having a conversation with someone. When we underwrite and evaluate a deal, the first thing we look at are the acquisition costs, construction numbers and address of the property. Within these 3 items, we can tell a lot about the deal, the borrower and the borrowers awareness of his/her numbers and market place. Strong cash buyers buy around the same number as other strong cash buyers. Their construction numbers are also similar to other strong buyers. This is because they have come to these conclusions of what it takes to make a profit in a deal over the course of many deals and sometimes a lot of trial and error.
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