PLP-017 Building a Lender's Team of Professionals
Building a Lender's Team of Professionals
In every business it is wise to surround yourself with a stellar team. In private lending, this team not only makes life easier it helps keep you safe and prosperous. The professionals you will need on your team include:
Attorney - prepare your documents and handle foreclosure, among other things
Appraiser - to provide you a professional opinion on the value of a property
Title Company - a trusted friend that is a necessity
Property Inspector - to determine the condition of a property as well as insuring the rehab/construction work is progressing according to predetermined draw schedule/plan before you release more funds to the borrower
Note Servicing/Escrow Services - let someone else collect the payments, withhold taxes and issue 1098's
Insurance Agent - self-explanatory, or is it?
Surveyor
Accountant/Bookkeeper
RMLO (Residential Mortgage Loan Originator) - to help with owner financing
Realtor