As always, this form is given as is and you should pass it by your legal counsel to make sure it fits your needs and follows the specific rules in your state/city.
You can use this form as the “Loan Offering” sheet that you send out to potential lenders who have expressed interest in your program that you have already presented to.
Don’t get too wordy with the descriptions in this form… be short, concise, and to the point.
I like to just send this over and if the lender likes it… they’ll respond and ask for any additional docs/info they need. Don’t send the appraisal, title report, etc. to them w/ this… send those if/when the lender asks for them to make their decision.
After you complete this sheet it’ll likely be 1-2 pages long depending on the depth of your project and exit strategy descriptions… but remember to keep your descriptions to 1-2 paragraphs and to the point.
If you have pictures, you can add pictures to a separate attached sheet at the end of the packet. Pictures are recommended because they make the transaction feel real to the prospective lender.
Instruct the lender to fax/email the form back to…
Patrick Riddle
has been investing in real estate ever since he got the bug in college at Clemson University and - to his parents dismay - dropped out of college to dive full-time into real estate at the age of 22 with a couple friends/partners from school.
The first few deals were rough for them, mainly using their own cash, credit, and hard money loans. But, soon he found out that was a rough and unsustainable way to build a real estate business.
After "on the job" learning through the school of hard knocks at first, he found the key that helped their company get deals done more quickly, with higher profit, less risk, without having to go to banks or use their own cash.
Fast forward to today, their company has closed over 130 real estate transactions and has put over $6 million in private money into their own transactions.