You know a borrower just attended a get rich quick real estate seminar when they say:
What do you mean you don’t lend on residential real estate? I got your name from an exclusive listing of lenders available only to platinum members
No, I am going to purchase property creatively. I had $40,000 but I spent it on real estate education
As a lender, what can you do for me to help me reach my goals?
I formed an LLC and want to borrow $500,000 for working capital. I have no collateral and won’t provide a personal guarantee.
Here is my business plan. I plan to buy 10 houses the first year, 20 houses the second year,……………….50 houses the fifth year, and then live on the rental income.
- And my all-time favorite – “I’m going to report you to Carlton Sheets and you’ll never make a loan again!”