Clay Sparkman I am re-posting two short articles that I posted on the investor blog recently. Why? Because they are quite positive and credible in their outlooks, and I feel that we could all use a dose of optimism with regard to real estate markets about now. (It has been a long five years.) Too […]
Posts Tagged ‘private money brokering’
The Doc List
Tuesday, June 19th, 2012Clay Sparkman On several occasions, I’ve discussed the importance of a good loan summary. A good loan summary is fairly crucial, as you approach us with a new loan request, as it speeds up the approval process (or denial) to a surprisingly significant degree. Given that, it seems logical to discuss how to speed up […]
No yesterday might mean Yes today
Saturday, June 2nd, 2012Clay Sparkman Private lending is a constantly changing business. The factors that drive the types of loans that we can do are as varied as the structure of the deals themselves. That’s why, despite the fact that we may have turned something down in the past, it never hurts to ask again. We are based […]
Hard Money the Old Fashioned Mortgage Alternative
Wednesday, May 9th, 2012Clay Sparkman Now that the Sub-Prime market for mortgages on home purchases and refinances is a thing of the past, we’re back to the situation in the ‘80’s when, if you couldn’t qualify for a black and white conventional mortgage, your only alternative was hard money. Quite frankly, now that I’ve been in this business […]
Creative Funding
Wednesday, May 2nd, 2012Clay Sparkman As you all know, sometimes we have to be creative to get loans done in this market. One of the most critical aspects of any loan is the Loan to Value ratio, and there are often options for reducing the LTV to make the deal more attractive. For purchases, the seller carry back […]
More time left for you
Thursday, April 19th, 2012Clay Sparkman As I’m sure most of you will agree, it takes more contacts to get a loan done these days. Lenders are more selective and an increased number of borrowers are turning to hard money. More borrowers are talking to brokers, and then brokers have to talk to more lenders to find funding. The […]
FFS has new source of private money funds nationwide
Thursday, April 12th, 2012I am pleased to announce that we now have a new source of funds nationwide, and for larger loans than what we have typically been able to do. The basic parameters are as follows: ELIGIBLE LOCATIONS Anywhere in the United States ELIGIBLE PROPERTIES Income producing commercial real estate properties including multifamily, but no construction TRANSACTION […]
Make your borrower's projects and submissions More robust
Monday, March 26th, 2012Clay Sparkman In the current climate, it’s getting harder than ever to impress potential lenders with your client’s loan scenarios. It may be that times have changed permanently and that it will be years before lenders return to their pre-2007 comfort level. Until then I thought I would make some suggestions to help you to […]
A Note on Relationships
Thursday, February 23rd, 2012Clay Sparkman I’d like to take this opportunity to highlight a loan that we were able to get into escrow 1 week from the time the borrower submitted his scenario. This is not something we can do every time, but very possible for a proven borrower that knows the dance. I’ll refer to this borrower […]
To Pre-Approve or Not to Pre-Approve
Friday, February 17th, 2012Clay Sparkman We’ve been getting a lot of requests for pre-approval letters lately. Many of our loan requests are for rehab loans, and it can be difficult to submit offers without an approval or proof of funds letter. Unfortunately most of our clients don’t have an extra 200K sitting around for the proof of funds, […]
