Competing With Mythical Lending
July 25, 2014
Now, more than ever, Diamond Financial sits by and watches other lender transactions linger on for months and never close with our hands tied behind our backs. We cannot compete with the mythical lenders of 2014. By “Mythical lenders” we are referring to the many…
The Real Story On Seller Notes
June 6, 2014
How many times have you heard “The SBA requires a seller note on all loans”? Well we want to clear up all the confusion on required seller notes. In short, there’s no such rule (anymore). You may find that shocking as many people have been…
Qualifying Buyers Upfront
May 8, 2014
There is much controversy surrounding a buyer’s level of qualification. Most potential buyers will explain to brokers that the down payment and/or full selling price is “No problem” for them to come up with but how many times do we see that not be the…
The 90% Rule
April 9, 2014
If you have been following the SOP rule changes over the last few years you may have noticed this added: The SOP Adds language similar to that found in the appraisal section describing requirements when a lender requires business valuation at closing (valuation estimate in…
Liquidated Collateral Rules
March 16, 2014
SBA Tip # 7 The “Liquidated Collateral Rules” and how they affect your loan requestLiquidated Collateral Rules If you have been following the rule changes and tips each month you will remember that last month we talked about securing borrowers collateral when available. This month…
The 7 Habits Of A High Volume Broker Office: The 7th Habit – Keeping Control Of The Transaction
September 10, 2015
The attorneys and consultants involved can make all the difference in the world When was the last time an attorney cost you a deal and made for a long drawn out, even painful experience? We see it more than we choose to admit and discovering…
The 7 Habits Of A High Volume Broker Office: The 6th Habit – Compiling Your Memorandum
August 18, 2015
What buyers look for in your listing and why lenders read your memorandum! A complete and comprehensive memorandum is not only a great advertising tool for buyers but also lenders will use much of the information included in them for their internal write ups. Countless…
The 7 Habits Of A High Volume Broker Office: The 5th Habit – Advertising And Your Listing Promotion
July 11, 2015
What buyers look for in your initial listing. Buyers are searching online every single day looking for businesses and we understand that fact. This month we will discuss what we hear from buyers looking through the dotcom sites. What are they really looking for and…
The 7 Habits Of A High Volume Broker Office: The 4th Habit – Are You Really Screening The Buyer?
June 19, 2015
Buyers are liars, as the saying goes, what can you do about it? Almost every buyer calling you inquiring about a listing typically tells you they have no problem with the down payment and securing financing or claim to be paying all cash for the…
The 7 Habits Of A High Volume Broker Office: The 3rd Habit – Knowing When To Say When!
March 15, 2015
How killing a deal quickly will make you more money this year If you’re like us then you spend too much time on deals that don’t close, it comes with the job. Our goal is to monitor this and keep it to an absolute minimum….
The 7 Habits Of A High Volume Broker Office: The 2nd Habit – Creating A Timeline And Setting Expectations
April 17, 2015
Timelines keep everyone on track and hold each party accountable! Your listing has an accepted offer, congratulations. But you know better than to count the money just yet. We typically see about 30% of the deals fail to close for a few reasons, many of…
The 7 Habits Of A High Volume Broker Office: The 1st Habit – Financing, Financing, Financing
March 8, 2015
If the law of retail is “Location, Location, Location” then the law of acquisitions is “Financing, Financing, Financing” In just the last few months I have had the pleasure of attending many broker conferences across the US and one thing that has really stood out…