That is numerator.

If the seller says, “Oh no, feel free to give us an offer”, then there is your invitation.  

Invited them to coffee or lunch...asked a bunch of questions and figured out a way I could add value (i.e, walking for dollars, etc.)P.S. love that you are getting your real estate license - super smart!

There have been numerous people on BP talking about how they paid application fees but they could never get their loans closed on any deal brought to the company.

I'd be happy to invite all of you.

Quote from @Brandon Croucier: Quote from @Chris Seveney: They are more than a one man show - they are doing $10-12MM a year in lending (also have other parts of business) and have the people and systems in place includin g all above except the deal flow.How does one profitably run a PML company with numerous people only funding 10-12M a year?

Search the BP for ADU appraisals to encounter numerous examples.

The real skill is understanding the variability and risk in each number which is not always numerical or scientific.

We are only selling completed homes with our own in house financing currently at 3.75%, a huge discount from most bank rates.We are a long time property provider for some of the bigger podcasters: Real Estate Guys Radio, Marco Santorelli (Norada), Kathy Fetke (RWN) Jason Hartman ( Empowerd Investor) GRE (Keith Weinhold), Whitecoat Investor Group and more We also work with American Homes for Rent, Invitation Homes, Crescent, Haven Realty (JP Morgan) to name a few on the institutional side We are partially owned as of 2022 by Sumitomom Forestry, which means we have no bank debt and self fund all our building projects.

For instance, in my private lending, I dont really give a numerical credit score much weight, but I absolutely look at the composition and history of the individual tradelines on a report if the borrower is a smaller outfit, such as a single member LLC or similar solopreneur-type operator.