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Updated about 7 hours ago on . Most recent reply

- Lender
- Lake Oswego OR Summerlin, NV
- 63,770
- Votes |
- 43,172
- Posts
Power of BP and yes deals can be funded in 5 days or less with the right private $
https://www.biggerpockets.com/forums/49/topics/1239975-do-pr...
This thread was last week.. yesterday I funded this deal for this investor.. Not saying this is common.. however the investor had his title work done he had some cash and I liked the project so I started working on it with an email Monday the 21st to the title company and Title company referred me to local attorney for doc prep ( note and TD) Docs were to me by Wednesday to review and approve .. Docs were approved within 30 minutes by me .. ( I happened to be in Milwaukee that day touring RE with @Marcus Auerbach of BP) I approved them Docs went out fed X to the borrower he signed Thursday and fed ex back to title .. And I sent in the funding wire on Friday and it closed.. Borrower had a hard closing date he needed to make and well we made it no problem. So when the question comes up on BP can a deal get funding in 5 days in some cases sure.. Not generally going to happen with a Broker .. PM it can.. I do my own valuations so no appraisal etc etc .. True Equity based transaction.
But Borrower has to have some cash which this borrower did and a very nice plan to build a custom spec home.. So hoping it all goes great for him..
- Jay Hinrichs
- Podcast Guest on Show #222

Most Popular Reply

- Lender
- Lake Oswego OR Summerlin, NV
- 63,770
- Votes |
- 43,172
- Posts
Smart phones help and of course I could not do it without my staff !!! Anyone looking for Milwaukee props look no further than Marcus team.. they have it going on.
- Jay Hinrichs
- Podcast Guest on Show #222
