ASK MIKE MONDAYS - “Mike, I made a mistake; I signed a contract and put $200k in HARD earnest money BEFORE I spoke with a lender. Lender turned the deal down and my $200k is at RISK; any suggestions?”

Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles

English - December 21, 2020 21:16 - 19 minutes - 22.7 MB - ★★★★★ - 489 ratings
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Previous Episode: Episode 234 - KC Conway CCIM Economist: “What you can expect in real estate investing in 2021” LISTEN TO THIS ONE!

Next Episode: Episode 235 - Michael Becker kicks off his NEW interview show! Meet Brian O’Boyle Sr. with Newmark

Well, you probably won’t do that again! If you cannot close; the seller WILL take your earnest money. Before you expose your own money to a possible loss (in this case- without having a creditable lending source) you must have an in-depth conversation with a lending decision maker. Your lender is your biggest partner, and you must get them to invest in the deal, too! Be completely transparent to the lender.
Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.”
Are you interested in learning more about how Multifamily Syndications work?
Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
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