The SME Stream · You should write a prenup with Holly Egerton
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Advise recording parental contributions as a loan with a note that it is secondary to the bank's interest, so banks treat it as a loan rather than a gift
“Over 70% of the loans that we will originate this year will be loans that we characterize as off-market or preferentially sourced loans with those borrowers.”
“I just got an unconditional approval for a loan and signed loan docs on Saturday. It's a $6.5 million loan and it was split into two portions, one at 6.14% interest only investment and one at 6.34%. So we guarantee our rates at 6.1%.”
“If you got a 95% loan on 1.5 mil, it would be a $1.425 million loan… you would need, like, $220,000 a year for the bank to give you the loan.”
“You can do a major renovation as a construction loan… the lender will take the higher rent that you're going to get at the end of the construction as income for servicing the loan”
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