Avoid Unnecessary Trouble Through Early Relationship Vetting

Borrowers

  • Experience # of deals
  • Exit strategy
  • Cash Reserves
  • Current workload
  • Credit Score – numbers vs Debt

Brokers

  • Types of deals funded
  • Number of deals funded
  • License
  • Servicing
  • Underwriting process

Attorneys

  • Area of practice narrow or broad
  • How many foreclosures have they processes
  • How many foreclosures have they prevented
  • States practicing in
  • Other resources in office
  • Fees- flat vs hourly

Contractors

  • How long a contractor
  • How many employees
  • Average job size
  • How many permits pulled at city
  • Insurance
  • License
  • Documents used
  • Process used

OPM

  • How many deals funded
  • Average size of funding
  • Own money or others money
  • Risk tolerance
  • Other reserves

DS

  • Integrity
  • Honesty
  • Ability to solve problems
  • Number of deals funded
  • Number that had issues – that were not resolved timely

No Comments Yet.

Leave a comment