We've switched gears and focused on finalizing funding to close on these deals. We had a buyer who really wants to the Sunrise property, but his financing source won't close on a property that needs roof work done. Oh well! We've even had realtors calling us trying to show the Sunrise house to their clients too so I really think we can get a retail sale out of that one with VERY little work...just fix the roof and call it a day.
We also have a potential private money lender who is one of my husband's clients. She is reviewing our proposal and wants to have her adviser take a look at it too and will get back to us. Speaking of private money...we've secured a couple mentors (Patrick Riddle and Trevor Mauch) to help us out with these efforts...its a bigger deal now since conventional financing is harder and hard money lenders are very expensive. Plus with the market tanking, people are looking for other ways to generate returns on their money. Anyways, one of our mentors (Patrick) is an expert who has raised $6M in private money for his real estate deals over the past 5 years...and he started when he was a college student! We'll be sure to track our adventures in these efforts as well.
Our free mentoring with The Freedom Equation is over now...it was a pretty good experience. The coach we worked with was definitely knowledgeable, supportive, and responsive. I think mentoring in this business (or any business for that matter) is essential and we're going to continue to seek out mentorship whenever we can.
Showing posts with label Patrick Riddle. Show all posts
Showing posts with label Patrick Riddle. Show all posts
Wednesday, November 12, 2008
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