I Am A Tool
When people submit deals to us for private money lending against their real estate projects, they can actually use our underwriting as more than just a yes or no answer on the deal. The strongest borrowers look to us as a backboard or second opinion on their deals. Because our lending is asset based, it is really important that we know the end value of a property. We don't use appraisals but rather a decade of experience on how to find the value of properties. If a deal is declined because it is not strong enough for us, it is worth using that information to see if something was missed on the borrowers end when figuring out the value. We use the MLS and have seen thousands of deals over the years. Being able to use that information can be very helpful when deciding if you are going to buy a deal.
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