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23 February 2020 | 2 replies
For bigger banks, there is an additional layer that you have to deal with and is why communication can sometimes be very slow.
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21 February 2020 | 5 replies
It's good to see how others are communicating and operating.
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20 February 2020 | 0 replies
My ability to be personable, along with my communication and negotiation skills ultimately are my biggest assets and are what I bring to the table in every deal.
21 February 2020 | 4 replies
On top of typically needing at minimum first months rent and a security deposit.In my experience, if you communicate your intentions early, and treat people with respect, you won't have many issues.
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3 March 2020 | 18 replies
This park is cash flowing approximately 11k/month, the owners have an onsite resident who acts as the manager (collects rents, shows units for rent, communicates with owners daily) and also does most of the day-to-day maintenance.
21 February 2020 | 5 replies
Junathean, It sounds like he has a property management company to communicate with the tenants for showing windows, etc.
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23 February 2020 | 10 replies
@Anil BajnathYou don’t need to communicate any further.
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12 March 2020 | 13 replies
A few red flags to watch out for would be:- Asking for a large loan application fee or other fees upfront - Unusually low interest rates for a hard money/private lender (real hard money/private lenders aren’t loaning money at 4-5% but fake ones usually advertise those rates)- Email communications with really bad English/grammar indicating the sender might be from out of the country- Claiming they loan nationwide in all 50 states (most non-bank, hard money/private lenders operate in only certain states and don’t lend nationwide)- Claiming they can do loans from $5,000 to $50 million (most lenders that will loan you $5,000 can’t do a loan for $50 million, and most lenders that can do a loan for $50 million aren’t going to bother doing a loan for $5,000)- Offering to send you a photo of their drivers license (fake lenders tend do this to convince you they’re legit but I guarantee you it’s not their license they’re showing you and a real lender would never do this)- Not caring about your qualifications or the merits of the deal (basically willing to “approve” you no matter what you bring to them since they know they’ll never actually fund it)- Terms that seem just way too good to be trueThat’s just a few things to watch out for.
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27 February 2020 | 43 replies
At our lender, Reduced flexibility does NOT mean completely INFLEXIBLE, it actually is possible to get a property out so long as the bank maintains it's equity position and you jump through the required hoops-- you might compare it to a cable contract.
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24 February 2020 | 4 replies
I'd suggest ceasing all communication and finding a new lender.