The $41,000 mobile home note
Getting the offer accepted was the easy part. Here's what I check before I close.
For lenders: why a mobile home needs a bigger cushion.
Read the breakdownHome / How I underwrite
How I underwrite
The numbers start the conversation. The documents finish it.
Real deals and scenarios I've worked through, broken down so you can see how I think and how I protect lender money. Names and addresses are left out.
Still paying after the loan matured
The borrower pays every month. The loan term ran out. Here's why that matters.
For lenders: why "paying" isn't the same as "safe."
Read the breakdownRent checks vs. note payments
Why a monthly check and a real return are two different numbers.
Read the breakdownBefore I buy a performing note
The person, property, paperwork, and price checks I run on every deal.
See the checklistDeal breakdowns are for education. Figures come from the deal as presented and are not a record of investment results.