“My Deal Fell Apart At The Last Minute”

“State Of Financing – 2013”
June 17th at WREIA.

When I asked how her deal was coming along, she replied that her sale fell apart “at the last minute.”

I asked “Why?” especially when I knew it was such a good deal and she had perfectly priced in that neighborhood.


First – Let’s dispel the myth about investment capital.  There is money available for investors.

Banks have money available for investors – and at pretty great rates.

It’s what we call a normal market for investors.  In 2005-06 you could get an investor loan by walking into a bank and fogging a mirror.  Today, you will need decent credit, 20-30% down, qualifying reserves and a well priced deal – but the money is there.

But at WREIA this month local mortgage and banking professionals are going to answer two BIG questions for investors:

  • Who is lending to investors?
  • What is their criteria?

Back to my friend – lack of funds was not why her deal fell apart at the last minute.   She was trying to sell her property – after she had finished about 80k of renovations.  She had done most of the work on a very tight budget – but didn’t have the documentation to prove the amounts she had spent.  This simple mistake kills deals today.



Next Monday we are going to talk about selling your investment property in 2013 and what you can expect from your retail buyers when they are coming to the deal with traditional bank financing.

It’s a whole new ball game when it comes to traditional financing for your buyers.

It’s going to change again on January 10th, 2014 – and you can be ready for it.

Keep going today, stay motivated and get your ticket to WREIA for this Monday, June 17th.  We are going to help you lay out a business roadmap for the last half of 2013.

Let me know if there is anything I can do to help your business,

John Peterson

Washington REIA Network, President

Profitable Property, FounderP.S.   The “March To 100” UPDATE – Phase 1 is complete! We are in full swing and local Wholesalers are getting PAID!  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us at WREIA.P.P.S  The answer is YES, we are still doing partner deals with our students and WREIA members.  Maybe you need some help with financing or need a valuable construction partner?  We can help speed up the process for you, and help take your business to the next level.   We are here to help.  Just send us a few quick details at http://dchardmoneylender.com/quick-property-submit/  and we will get back to you ASAP.