Some rules are unseen and unspoken. If you violate them… weird things may happen. You may find yourself desperately wanting to be involved in real estate development for example. Yet, you get nothing done in the physical realm and years may slip by and you’ve spun your wheels to no avail.
The Five Cs:
Imagine yourself gaining clarity on what it takes to get a real estate deal done. It always involves the 5 C’s of banking right? Leverage and real estate are like peas and carrots. So, sit here with me in the … err..forest on the park bench, grab a Christmas chocolate, and lets review:
- Cash: The quasi myth of zero down real estate has been a bright shiny object for many investors…don’t get stuck in this narrow realm of deals. Because leverage is so prevalent in real estate it can be counter-productive to invest this way.
- Credit: If this is your constraint work hard on fixing it. Evaluate the ways this system is set up and make it work for you.
- Character: Life is easy when your word is your bond.
- Collateral: This one can be challenging if you’re trying to break in to the investment quadrant. With the economic realities as they are getting ahead may appear to be tough.
- Capacity: This is also a tough one starting out. Example, a lot of banks will put you into a spin saying it takes two years of land-lording experience to get a loan.
How did anyone ever get a loan?
The One Big O
Opportunity….Oh Yeah Baby!
I don’t care what the Grinchy’est Grinch will say, even if you lack some of the above you can force your way into the …read more