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Updated over 10 years ago on . Most recent reply

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109
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Stanley Okazaki
  • Residential Real Estate Agent
  • The Woodlands, TX
40
Votes |
109
Posts

How do we show Hard Money Lenders our track history?

Stanley Okazaki
  • Residential Real Estate Agent
  • The Woodlands, TX
Posted

We want the best rates on hard money just like everyone else. 

From what I understand, you can negotiate for better terms if you have good credit, liquid assets & a proven track history of successful investing. 

Our problem is that we never kept records of the fix/flips we've done in the past. How would we be able to show lenders our track history ( tax returns,etc) ? If we made some sort of portfolio or Power point would that suffice (Anyone can make up a fake PPT) ?

Thanks in advance...

Most Popular Reply

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639
Posts
176
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David T.
  • Specialist
  • Las Vegas, NV
176
Votes |
639
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David T.
  • Specialist
  • Las Vegas, NV
Replied

Make a list of your properties on a spreadsheet, with as much info as you can, purchase price, selling price, rehab cost, etc. If you are dysfunctional about documentation, ask an experienced office clerk, a friendly (!) Realtor or even a CPA to do this. Buying and selling property is a matter of public record and those records are out there somewhere and you really can't be that helpless and if you are, nobody will lend to you anyway.

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