Clay Sparkman In a prior posting, I pointed out that one of the primary advantages of private money is that it allows for creative problem solving due to the flexible nature of the beast. I went on to discuss some of the ways in which one can often make a private money transaction work, on […]
Posts Tagged ‘private money brokering’
What you will only learn on the streets about how to read an appraisal (and hopefully without the scars to prove it)
Monday, August 9th, 2010Clay Sparkman The crucial thing that you must understand about any appraisal (or other real estate valuation instrument) is that it is only as good as its logic. So that—in other words—you must never accept an appraisal’s conclusion regarding value without looking beyond the surface to understand the logic that leads to the conclusion and […]
Ignoring the experts
Monday, August 2nd, 2010Clay Sparkman One thing I can tell you about private money is that the regular rules don’t work there. And in fact, there aren’t really any rules that you can count on. At best, there are guidelines and these vary greatly depending on the broad spectrum of particulars that define a particularly loan request. With […]
The language of private money
Tuesday, July 20th, 2010Clay Sparkman Most of you are probably familiar with the nomenclature of private money lending, but from time to time, I find myself clarifying the meaning of one or more of the essential words, acronyms or phrases. And so I shall publish here a brief glossary of such terms for your reading enjoyment. Consider this […]
The infinite universe of private money
Friday, July 16th, 2010Clay Sparkman and Richard Sundvall Our private money lending programs tend to be fairly rigid with regard to LTV requirements but quite forgiving with regard to other issues. One of the nice things about private money is that it allows for creative problem solving. I have put many transactions together, that initially didn’t appear to […]
Sunshine and hard money
Sunday, July 11th, 2010Clay Sparkman It is summer at last! In the Pacific Northwest, that means it is time to play–or for those who are investing in real estate projects, perhaps the reprieve from the rain means that it’s time to get to work on purchase and rehab projects. As much as 80% of the loans that we […]
Web based resources for the private money professional
Thursday, July 1st, 2010Clay Sparkman Today I will focus on a few web based tools that I have found to be useful in the business. Let’s start locally (Portland, Oregon) and then expand out from there. A really nice little site if you are doing business in the Portland area is: www.Portlandmaps.com The City of Portland provides PortlandMaps.com […]
Top ten clues that you should probably re-consider using a particular private money lender
Tuesday, June 29th, 2010Clay Sparkman I remember when I first came into this business 15 years ago, the general attitude toward private money–and private money lenders and brokers–was quite negative. And to a certain extent, the reputation was not completely unearned. It was an industry that seemed to harbor a small handful of crooks and a great many […]
Twenty-five questions you must ask
Sunday, June 27th, 2010Clay Sparkman I originally published this article in September of 2009 on my other blog—The Private Money Investor. One of the greatest challenges for private money brokers and borrowers is to understand the thinking process of the private money investor. Once you are able to get into the mind of the investor, it becomes much […]
Rehab and construction loan FAQ
Friday, June 18th, 2010Clay Sparkman One of the most promising areas at the moment for real estate investors and brokers, by all indications, is REO, rehab, and quick flip of properties. The opportunity to buy distressed properties at a low price point is evident in many markets. And yet it is difficult for most end-buyers (with a non-profit […]
