I'd also want the operator to have a favorable track record in general but also with that specific property type, plan and MSA.It's good to know that the operator is making a significant capital contribution of their own, and not just dumping their acquisition fee into it and calling it good enough.

Credit score. references..

As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

Cash flowing well on every SFH and small multi family deal I've done in Upstate NY, even with my first having an interest rate above 10% due to what my credit was.

A tax account ensures nothing is accidentally spent elsewhere, and a marketing account makes sure lead generation is always prioritized.From a credit perspective, connecting credit cards to these accounts on autopay helps you manage spending responsibly while playing the credit game.

If they do not qualify because of poor credit or income issues compared to being self employed etc there are differences - but typically people don’t qualify due to poor credit and people will seller finance to these borrowers thinking they woke up at a holiday inn and got a finance degree when in reality they repeat their past mistakesRemember the definition of insanity is doing the same thing over and over again expecting a different result

From there, it's normal DTI/Credit/Cash assessment for the new loan to determine whether you can afford the loan. 

For a traditional Heloc at most small banks/CU's, the rate will be variable and will be WSJ Prime + a spread that represents the borrower's credit risk.

So, you, as an individual, may not get to the same rate that a MASSIVE national builder can...but you can certainly offer credits to the buyers to help buy down the rates. 

Hello Team,I am  looking at my outstanding credit card debt which is at ~25k would it make sense for me to consolidate this debt to a lower interest loan?