╼ Welcome
╼ Private Financing
Why Use Private Financing?
- As real estate entrepreneurs grow their business, they often encounter challenges working with traditional banks and credit unions. These include:
- Unwillingness to lend against collateral needing intensive rehabilitation
- Lending officers who fail to understand investor’s tax returns
- High or accelerated depreciation losses
- High expenses from property rehabilitation
- Low or lack of 1099 or W2 income
- Rental income that is in-place but not yet reported on past year’s tax returns
╼ Resources
Client Resources
Step 1: Apply
Complete the personal financial statement (PFS)
Provide an overview of the investment opportunity / subject property, comparable market analysis or brokers opinion of value, rehab budget, if applicable
Initial interview (20-30 mins)
Step 2: Diligence
Additional diligence requests
M.R. Qualified provides a non-binding term sheet
Step 3: Documentation
M.R. Qualified drafts loan documents
Borrower engages title company to complete title review and issue a title insurance policy
Borrower obtains property / casualty insurance
Step 4: Closing
Closing