Chasen Chess' Marketing Success Summit 2022 - Episode 2 with Mark "the Lender" Abramovich

All about hard money. Lender lingo ARV; After Repair Value. Loan limits, a percentage of the purchase price, and 100% of the renovations. LTC; Loan To Cost limits. What lenders need for underwriting; applications, background and credit checks, entity docs, bank account statements, etc. The scope of work / renovation budget, and its use for an appraisal. Valuating properties, comparable values, and disputing appraisals. Reimbursement draws; how they work, fees, and having the renovation funds provided. Do not advance for work not done, reimburse the contractor for work done. Using 0% interest credit cards to save money. Build relationships before you need them. Using personal cash vs borrowing. Minimum returns; Profit and ROI (Return On Investment). Analysis and underwriting, story and math. Timelines to close a deal.

All about hard money. Lender lingo ARV; After Repair Value. Loan limits, a percentage of the purchase price, and 100% of the renovations. LTC; Loan To Cost limits. What lenders need for underwriting; applications, background and credit checks, entity docs, bank account statements, etc. The scope of work / renovation budget, and its use for an appraisal. Valuating properties, comparable values, and disputing appraisals. Reimbursement draws; how they work, fees, and having the renovation funds provided. Do not advance for work not done, reimburse the contractor for work done. Using 0% interest credit cards to save money. Build relationships before you need them. Using personal cash vs borrowing. Minimum returns; Profit and ROI (Return On Investment). Analysis and underwriting, story and math. Timelines to close a deal.

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