Real Talk
What It Takes to Get Funded.
Most broker websites won't tell you the truth. I will. I'm a broker. I work for you. Here's what I want from you, what I need to give you a real answer, and what your terms will look like in the best case and the worst case.
What I Want From You
- Honest answers. Don't tell me the credit score is 720 when it's 640.
- Real skin in the deal. Equity in the project means you have something to lose if it goes sideways.
- A clear exit. How does this loan get paid off? Sale? Refinance? Cash flow?
- Clean documents. Legible. Complete. Signed where required.
- Quick communication. I move fast. You need to move with me.
What I Need to Give You a Real Answer
- Property address (or business address for SBA)
- Purchase price or current value
- How much you're putting in (your equity)
- How much loan you need
- What the money is for (purchase, refinance, rehab, construction, PIP)
- Your experience with similar deals
- Your basic financial picture (credit range, liquid assets)
- Your exit plan and timeline
Best Case Terms
When you bring me a clean file, real equity, real experience, and a clear exit, you get the best terms on the program, the highest leverage, the longest interest only period, and the fastest close. The best deals price near the bottom of every range.
Worst Case Terms
If the file is messy, the credit is bruised, the experience is light, or the property has issues, you'll see the higher end of the range. More points. Higher cost. Lower leverage. Sometimes more reserves required at closing. Sometimes a personal guarantee where it wouldn't normally be required. The deal still closes, but it costs more. That's the trade off for getting it done.
How to Move Toward Best Case
- Get your docs in order before you call.
- Bring more equity if you can.
- Use a stronger GC or operator on the project.
- Show real reserves after closing.
- Be honest with me on day one. I can solve almost any problem if I know about it. I can't solve the ones you hide.