A repeat client needed a quick, short-term loan to purchase a single-family residential investment property in the San Diego area. The borrower secured the purchase at an excellent price and planned to make cosmetic improvements to the property for resale. The purchase price was $432,000, and...
A crisis often brings clarity to our values and options that may have been ambiguous before. It expedites decisions that can result in improvements in our businesses and our personal growth. I notice ingenuity and creativity emerging as we move through this COVID-19 crisis. At times...
Just over a month ago, the fundamentals of our economy were strong, i.e., low unemployment, low real estate inventories, low inflation, low-interest rates, and stability in the capital markets. Within a month, this coronavirus pandemic has rocked our world. I want to pass on some hope in the...
A real estate broker/investor-owned a single-family residential investment property that was initially intended to be a fix & flip property. But instead, the owner decided to keep it as a rental and needed to pay off the higher cost short-term private money financing.
What makes an ideal team player? I believe great businesses succeed because people do. In Pat Lencioni’s book, “The Ideal Team Player”, he spells out three important characteristics of an ideal team player: Humble A humble person is quick to point out the contributions of others and slow to seek...
There are two useful tools for valuing and comparing the feasibility of real estate investment opportunities: the capitalization rate (Cap Rate) and the cash-on-cash return. The two metrics use a snapshot of annual pre-tax income as a basis to determine the value and evaluate the feasibility of...
A 5-star rating for a hotel or restaurant means the ultimate in satisfaction. A 5-star connection in a relationship means fulfillment and joy. How can we achieve 5-star connections.? The 5-star rating system in a relationship can mean the difference between extraordinary and meaningless. We...
Saves Time – An experienced mortgage broker has a network of relationships to help you quickly find the lender that best fits your particular loan request. Saves Money – The cost of using an experienced mortgage broker is a sound investment that yields a great return. The real savings is...
Who are we becoming personally? If we win personally, we win professionally. But we cannot do it the other way around. When we set and achieve personal goals, and live according to our values, we will be propelled toward a more satisfying and fulfilling life both at home and at work. As we head...
Financial leverage is the borrowing of capital to invest with an expectation the return will exceed the cost of the capital. Financial leverage may or may not be a benefit during differing economic conditions. For example, financial leverage with subprime debt was bad for banks during the...
If you want to improve the chances of accomplishing a goal, don’t just broadcast your ultimate goal to everyone. Instead, be accountable to someone you trust for completing the action steps required to accomplish the goal. It’s fine to share a goal with someone because it will help...
Obtaining a construction loan is not easy. Improve your chances of acquiring construction financing by assembling an experienced development team which includes: a real estate broker, an architect, an engineer, a general contractor, and a mortgage broker. The presentation and the audience of the...
“The important thing is not to stop questioning… Never lose a holy curiosity.” Albert Einstein Without curiosity, our daily tasks become routine, without meaning or importance. Curiosity helps us enjoy what we do and allows us to grow and learn new things. Curiosity is vital to...
If you do any running at all, you’ve seen or heard about minimal running shoes. Minimal running shoes became popular after Chris McDougal’s book “Born to Run” was published in 2009. He promoted barefoot running as a more natural way to run, healthier for your feet and...
A growth mindset is an attitude of optimism. Its a way of thinking that creates a passion for learning and growing by believing that our creativity, character, personality, and intelligence are constantly changing and developing for the better. However, a fixed mindset is an inherent belief...
When we think we have the only right answer that’s when we are at our riskiest moment and most vulnerable to making a mistake. I am not talking about the daily, mundane decisions we make every day where we’re using basic common-sense; I am talking about important decisions that...
The motto “Eat less and exercise more, and you will lose weight and be healthy!” is not that simple. I used to think I could exercise more to compensate for eating junk food. But, you can’t outwork a bad diet. When I was young, I thought I was invincible in so many ways and my...
Know Your Lender’s Track Record Be smart from the start. To save time and reduce stress when looking for private money real estate financing, research the lender’s track record and references. Look for a private lender that values integrity and has the results to prove it. Many times...
1) Know how Net Worth is Calculated Net worth is the difference between your assets and liabilities, calculated as: Net Worth = Total Assets – Total Liabilities While your liabilities are easy to calculate it can be challenging to determine accurate asset values. It is best to make...
Increasing leverage or debt is an alternative to raising capital through giving up ownership equity. However, giving up ownership equity can be costly and is usually more expensive than debt. I often get the request from a borrower asking, “How can I get a larger loan amount to take...
