Private Lenders' Podcast
Q & A from Hard Money Mastermind - #249
Feb 20, 2025
The hosts dive into the art of creating an effective borrower scorecard, evaluating candidates based on financial liquidity and communication skills. They tackle borrower negotiations, emphasizing the importance of consistent pricing to maintain strong relationships. The discussion on fix-and-flip lending highlights the balance of risk and reward, focusing more on borrower character than just credit scores. Lastly, practical strategies for assessing After Repair Value (ARV) make the complex world of real estate investment more navigable.
20:21
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Quick takeaways
- Developing a borrower scorecard enhances loan evaluation by incorporating factors like liquidity and credit score for informed decisions.
- Consistency in pricing is essential for lenders to maintain market position and build trustworthy relationships without compromising profitability.
Deep dives
Creating a Borrower Scorecard
Developing a borrower scorecard can enhance the evaluation process for potential loans. Key factors to include might be the borrower's liquidity, credit score, and prior experience in real estate investments. Scoring can help assess risks, such as how much cash a borrower can document or their responsiveness in communication. By establishing clear metrics, lenders can make informed decisions and improve the overall lending experience, especially when assessing new borrowers.
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