Re: Loans - Posted by Ed Garcia
Posted by Ed Garcia on February 08, 2002 at 21:37:34:
There is nothing wrong with looking for lenders on the Internet, Telephone book, News paper, or any media for that matter. However when looking for rehab money, investment money or financing other than conventional financing. My suggestion is that it’s time to stop letting you fingers do the walking, and get out there and look for lenders and meet people.
I don’t know what it going to take for me to tell people, that financing is the key to deal making. Even when you think you’re doing a deal with out financing, you’re wrong. A seller carry-back is a source of financing.
Jose, I know that this sounds corny, but there is a curtain amount of artistry in our business just as well as any other. Investors who are really successful in this business know how to choose lenders, work with lenders; I’ll even go so far as to say, Romance lenders. The old cliché of “you get out of something what you put into it” is true. This business is about BUILDING RELATIONSHIPS.
The best lender in Austin or any area of America for what you are trying to do, is a LOCAL PORTFOLIO LENDER. Weather it be a Hard Money lender, Small local Bank, or just a local yocal lender.