Hi! It’s Lou Brown. With another of my 101 amazing ways for real estate investors like you to win, close more deals and accelerate your cash flow. Today’s tip is number 36. Read all the paperwork. Know what you’re agreeing to. This is so important. I’ve seen many of my licensees around the country borrow money from third parties. They didn’t even know what they were getting themselves into. I’ve seen them borrow from banks. For example, banks love to take all of your assets, pull them together into one what’s called a blanket loan. And then make you subject to them as if they decide that your property’s not worth what they think it ought to be worth, they can call that entire loan due. Imagine that that was in that paperwork all along. They have the right at any time that they feel unsecure to literally give you a call and say, by the way, our loan committee met and we decided that we just want to go ahead and receive the money back on that loan.
Imagine what you would feel like if you got a call from the bank and that happened. Well, it was all there in the paperwork. And this is one of the reasons I teach my clients not to go to banks and not to qualify for loans. Now I know you may have a great relationship with banks and they love you and they call you up on the phone and they beg you to come get some more money. And I understand. And if you’ve got one of those relationships, I’m not saying don’t do that. Well maybe I am saying that because if you were to actually understand what to say and how to say it, you’d be able to raise all the money you needed for your deals without going to banks, without qualifying for loans, without paying points, and even without paying closing costs. How powerful is that? So I want to teach you the right way to borrow money.
Well, I hope you’ve enjoyed this. I hope you can use it. I know it can make a difference in your profits. I’d love to share more of my profitable tips with you. How can you get more? Depending on where you’re seeing this. Please like it. Love it. Comment on it. Subscribe. Share it with your friends. I sure do appreciate that. Thank you for watching and I hope to see you soon. Yeah, baby!
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