Ward III Really great checklist, completely agree that readiness drives confidence with lenders.A few elements we’ve found helpful to include as well:▪ Sensitivity analysis on DSCRJust a quick look at how the deal holds up under different rate or OpEx scenarios.Shows we’re realistic about what’s changing in the market.▪ Institutional OpEx benchmarksA one-liner that ties expenses to actual operator averages helps align expectations early.▪ Brief risk/mitigation bulletsDoesn’t need to be heavy, just shows we’ve already thought through the downside.Those couple of additions have made conversations with lenders much more efficient on our end, especially when moving from preliminary interest to real underwriting.Appreciate you sharing this, would definitely like to take a look at your full checklist PDF as well.

This included changing cleaners, changing plumbers, changing HVAC companies, tinting windows so they don't look as dirty and need windows cleaners, changing internet providers, changing from satellite TV to DirecTV stream, remove/change items requiring high maintenance like skeeball along with a dozen other things. 

It's all market dependent, some aren't seeing any change while some (like us in Austin) have been in a declining market for a while.

I am assuming this is the biggest buyer pool affected by the interest rate changes. 

.), and it returns a full underwriting breakdown:Base / downside / upside returnsP&L, DSCR, CoC, sensitivity tablesFlood + insurance risk for FloridaNext-step checklist and “what would change my mind” summaryIt uses conservative defaults (7.11% 30-yr @ 75% LTV, 5% vacancy, 3% expense growth, etc.) and calls out when you should check with a CPA, appraiser, or attorney.You can try it here on ChatGPT by searching for “BRRRR Brain” in the GPTs section.TRY IT OUT HERE!

You can too, and it isn’t difficult to set upFirst click on your icon in the upper right hand corner of our screen.Click on image to enlarge..Then click on Settings Make sure you SAVE YOUR CHANGES, and you’re done!

What are things you would change about the hard money lending process? 

This policy change is not about the compliance to the FTC ruling. 

You can too, and it isn’t difficult to set upFirst click on your icon in the upper right hand corner of our screen.Click on image to enlarge ..Then click on Settings Make sure you SAVE YOUR CHANGES, and you’re done!

This is what many more of us are doing since the changes in 2019.