{"id":1022,"date":"2016-07-05T14:17:42","date_gmt":"2016-07-05T21:17:42","guid":{"rendered":"http:\/\/privatemoneysource.com\/broker-blog\/?p=1022"},"modified":"2016-07-05T14:17:42","modified_gmt":"2016-07-05T21:17:42","slug":"the-art-of-the-summary-2","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/broker-blog\/?p=1022","title":{"rendered":"The art of the summary"},"content":{"rendered":"

Clay Sparkman<\/em><\/p>\n

The Art of the Summary<\/span><\/p>\n

Between phone calls, emails, and on-line submissions, we receive a tremendous\u00a0number of loan requests. It\u2019s pretty common for these loans to have tight deadlines, so here are three ways to speed up the process.
\n1)\u00a0\u00a0\u00a0\u00a0 \u00a0Use the on-line proposal form and provide all the applicable information.\u00a0 This form can be accessed through our web-site Here<\/a>.\u00a0 This form provides us with everything we need to know to issue you a quote. It\u2019s very effective.
\n2)\u00a0\u00a0\u00a0\u00a0 \u00a0Leave a description of the loan transaction in a voicemail. (Note: I’ve spent days playing phone tag with brokers, only to find out that they were looking for a loan in a state that we didn’t lend in. If we get a detailed voicemail, we can respond more rapidly to the various aspects of your request.)
\n3)\u00a0\u00a0\u00a0\u00a0 Send me an e-mail with a summary of the loan. This can be an efficient way to submit a loan request, and we can evaluate a good summary very quickly. However, that\u2019s not always the case. If the information is lacking or hard to find, it will delay the process. We\u2019re looking for a summary of the loan request, not pages of detailed documents. Here\u2019s a list of information that we like to see:
\nThe Property<\/strong>
\n– Property location
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Specs on the property (Type of property, SF of building(s), description of property, size of lot\/land, etc\u2026)
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Purchase Price and\/or amount owed
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 As-Is Value and ARV
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Amount needed for repairs (if applicable)
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Amount of money invested\u00a0thus far in the property
\nThe Borrower<\/strong>
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Monthly income
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Net worth
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Credit score
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Relevant experience
\nThe Loan<\/strong>
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Broker fee(s)
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Net amount of funds required for the borrower
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Amount available for down payment
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Use of funds
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Closing deadline
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Requested term of loan
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Exit strategy (This is very important.)
\nA good summary should highlight the features of the loan without the reader having to hunt for information. By providing this information in a clear concise format, it will speed up our review time and ultimately close loans faster.
\nIf you would like to discuss private money loans further or run a particular scenario by us, contact\u00a0Clay via e-mail at\u00a0clay@privatemoneysource.com<\/a>. Otherwise, if you would like to get a better feel for our company and the types of programs we do, please browse our web site at http:\/\/www.privatemoneysource.com.<\/a>
\n\u2013 Clay (clay@privatemoneysource.com, 503-476-2909)
\nClay is Vice President of Fairfield Financial, a primary source for private money since 1964.\u00a0 Fairfield is currently targeting loans in OR, WA, AK, CA, CO, ID, FL, GA, ID, MT, NV, NY, OK and TX.\u00a0 To submit a loan to Fairfield for consideration: <\/em>http:\/\/www.privatemoneysource.com\/loanproposal.php<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Clay Sparkman The Art of the Summary Between phone calls, emails, and on-line submissions, we receive a tremendous\u00a0number of loan requests. It\u2019s pretty common for these loans to have tight deadlines, so here are three ways to speed up the process. 1)\u00a0\u00a0\u00a0\u00a0 \u00a0Use the on-line proposal form and provide all the applicable information.\u00a0 This form […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[8,26],"tags":[31,34,36,37,38,39,40,42,43,46,47,48,49,50,51,52,53,54,55,58,59,61,62,63,64,65,68],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/1022"}],"collection":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1022"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/1022\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}