Wednesday April 8th Bo and Mandy Snell present, “Avoiding the Pitfalls of Financing your Project.”
The Number One Rule in Real Estate is Financing and it WILL make or break your deal!
In 2010 Bo developed his own system for purchasing properties for cash at the trustee sale (courthouse steps) where he analyzed 100s of properties daily and purchased, renovated, and sold more than 20 properties over a two and a half year period. This business fine-tuned his skills to analyze deal structures that only rely on facts that are supported by accurate data and documentation. At this meeting we will cover:
- Five items you need to know to calculate in 5 minutes your profit including financing.
- Private Money versus Hard Money.
- How to use cross collateral to finance your deal.
- Is the appraisal going to make or break my deal?
- What do you do if you don’t have enough skin in the game, but want to get started?
- Make sure you account for all the fees.
- Do you have room in your deal for interest reserve?
- Can you extend my loan and how much is it going to cost?
- The top 5 things that can go wrong and how to be sure it doesn’t happen to you.
Vision Capital Management, Inc. – Bo and Mandy Snell
Mr. Snell’s (Bo’s) background has been in the real estate building industry for over 30 years. Bo has been the borrower or contractor on over 100 construction loans himself and understands the banking process and managing cash flow as it relates to inspections, and construction timelines. In 2009 Bo attended and successfully completed the CCIM Institutes Financial and Market Analysis classes for Commercial Investment Real Estate. Over the last 30 years he has built 120 custom homes, completed over 30 major renovation projects.