Hard Money Traffic Light — Workshop 02

Hard Money Traffic Light — Jean Paul Urquizo

Nork Group · Nork Capital Lending · Trigon — jp@thetrigon.com · 786-556-0029

1Do you know what hard money actually is, and how it differs from a bank loan?

Yes Somewhat No

2Have you ever completed a fix-and-flip using a hard money loan?

Yes Somewhat No

3Have you ever refinanced a property out of a hard money loan?

Yes Somewhat No

4Have you ever bought commercial property or done new construction with private financing?

Yes Somewhat No

5Do you understand what DSCR means and how a 30 or 40 year rental program qualifies?

Yes Somewhat No

6Do you have a registered LLC or corporation with an EIN, articles and an operating agreement?

Yes Somewhat No

8Can you show traceable proof of funds for a down payment plus 20% of a renovation budget?

Yes Somewhat No

9Do you have reserves to cover payments while the property sits empty?

Yes Somewhat No

10Have you ever read a wholesaler assignment contract all the way through?

Yes Somewhat No

11Do you know what happens to your deposit if your documents arrive late?

Yes Somewhat No

12Could you produce an itemized scope of work for a renovation today?

Yes Somewhat No

13Do you have three real exit strategies for your next property, not just one?

Yes Somewhat No

14Do you understand that an appraisal coming in low can change your entire loan structure?

Yes Somewhat No

Not Yet

The foundations are not in place yet

Almost

You have pieces, not the whole file

Ready

You can move at lender speed

Received. Thank you.I read every one of these before the session.

This is a self-assessment tool for educational purposes. It is not a credit decision, a pre-qualification, or an offer of credit, and no result here guarantees or denies financing.

The Hard Money Traffic Light

Hard Money Traffic Light — Jean Paul Urquizo

Not Yet

Almost

Ready

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