 |
by: Weston A. Jones
September 20, 2003
There is absolutely no substitute for an experienced
specialized Hard Money team to help you get funded.
At Mentor Financial Group ("MFG"), all we
do is Hard Money funding. We think of ourselves as
your funding partner. MFG has funded deals and knows
the business. So how do you choose a good Hard Money
partner? Here are some tips to consider:
- Look
for experience. Comments like "no problem,"
"slam dunk," "I can fund in 5 days"
all show a lack of experience. Nothing is easy.
Lenders perform due diligence.
- Look
for relationships. "I've got hundreds
of deals" equates to databases, and databases
of lenders do not get deals closed. Look for true
relationships with lenders.
- Look
for partners. A good Hard Money partner has
partnerships with title companies, attorneys, escrow
companies, servicing companies,
etc. Those that don't, do not have the team, you
need and will jeopardize your deal getting funded.
-
Look for evidence. Lots of people say they
are licensed, have investors and have funded loans.
Verify these claims with references, documentation,
DRE, etc.
- Look
for specialization. At MFG, all we do is
hard money. Brokers that do this as a part of their
conventional lending business, puts your deal at
risk. The Hard Money business is much, much different
that the conventional mortgage and financing business.
Look for partners that specialize.
- Look
for packaging. Packaging and pitching experience
is very important. Making it easy for lenders to
evaluate the deal and pitch the quality is extremely
important to getting your deal done.
Keep in mind that an experienced, specialized team
dramatically increases your probability of funding.
So, if you have a deal and need a consultant, please
contact us at 866-MENTOR5 (636-8675), fax 866-291-1065,
Weston@mentorfg.com.
At Mentor Financial Group (“MFG”), our business is
to fund investments secured by trust deeds on commercial
real estate, including income producing properties
(i.e. apartments, office buildings, etc.), land and
development projects (i.e. construction loans, rehabs,
condo conversions, etc.) and non-owner occupied residential
properties.
Click here for the printable version of this article.
back to top
|
|
|
