What is Involved in the Hard Money Loan Process? - California Trust Deed #6

Bruce Norris and Craig Hill discuss the process for a borrower (real estate investor) to get approved for a loan. The first step is filling out an application that goes over their basic information and employment history. They learn a lot by their bank statements, such as who has the money and where they placed their money. The Norris Group makes loans that are good for the person with the money. If you are going to have a lending business, the most important thing you have to have is the money to be able to lend. This is why you choose your borrowers wisely. In addition, Bruce and Craig discuss how 90+% of the homes they loan on are single-family homes. They do not loan in second position, even if there was equity. The Norris Group has stuck with their model and has helped them gain a large client base. Appraisals are also incredibly important in private money lending. Finally, they discuss the paperwork involved with the loan, including the investment bulletin, lender purchase disclosure statements, escrow instructions, fire insurance, and loan servicing agreement.
DOWNLOAD FREE TRUST DEED INVESTMENT EBOOK:
bit.ly/trustdeedinvesting
CONNECT WITH US!
The Norris Group
-- / tngtrustdeeds
-- / tngtrustdeeds
-- www.thenorrisgroup.com
-- www.tngtrustdeeds.com
Call 951-780-5856 for questions.