SA111 | Developing Your Knowledge Through the Process of Loan and Lending for Your Multifamily Real Estate Business with Will Coleman

Expanding your real estate investing into multifamily space can be exciting and can be risky at the same time. Especially in this time of the pandemic, it's hard for a lot of investors to finance their properties. Regardless of the current situation, you still have ways to access funds if you're new to commercial or multifamily space. An example of this is commercial lending which allows you to borrow funds from a financial institution or private real estate loan companies. In this episode, you'll get to learn more about the lending and loan process, as  Will Coleman explains how it works for investors, things that you must take to qualify, and your obligations as a borrower.What You'll Learn From This Episode:Will's Background and How He Started in Real Estate InvestingHis Transition from Single-family to Multifamily Commercial Real EstateBenefits of Multifamily Investing and Commercial Lending SpaceChanges Commercial Lending Because of CovidSteps Need to Take for New and First Time Investors to Qualify for the LoansHow Reserves Works and its Role for Lenders to Mitigate RisksImportance of Communication and Honesty in Building Trusts Between Investors and LendersThings that Investors Need to Provide to Lenders to Qualify for the LoanDifference Between Recourse and Non-Recourse LoansBiggest Challenges in Building Up a Mortgage BusinessTimeframe for Loan Qualification ProcessControlling Your Emotions and Aggressiveness to Secure Your Success in Real Estate InvestingAdvantages of Reading Books in Solving Your Business ProblemsGuest Bio:Will Coleman, began his real estate career in 2016 by investing in and self-managing single family properties in the DFW market while working in property management for Greystar Real Estate Partners. He now works as the Director of Rand Capital, a mortgage brokerage which focuses on finding the ideal financing on apartments and mobile home parks. Website: https://randcre.com/To Download Personal Financial Statement: https://jakeandgino.mykajabi.com/pfsEmail: [email protected] Connect With Us:Please visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!Sponsor:Thinking About Creating and Growing Your Own Podcast But Not Sure Where To Start? Visit GrowYourShow.com and Schedule a call with Adam A. Adams.