Avatar's Blog

» Hard Money Mistakes - #6

Posted on 11/27/2004
Not being prepared. Loan requests accompanied by photos and financial operating statements for the last year and YTD for this year get funded at a rate of better than 2:1. Be prepared. Have short, simple Profit and Loss statement for the property if it income producing. Have a net worth statement for yourself and the company. Take photos of the inside, outside, and the neighborhood. You'll be miles ahead of others trying to get the attention of lenders.
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