I have a borrower who needs someone to supply the liquidity. It has to be 2 months of bank statements. I don't think the Relay funds transfer will work since it has to be 2 months. I have people offering to give the statements but don't want to do the Personal Guarantee or be on the borrower's operating agreement of their LLC. Any suggestions??? @Justin Pilakka

Question for the community: Regarding branding and client retention - if I find a client and RQF does all the work/funding, and their name is on all the paperwork, wouldn't that client simply go straight to RQF next time? I worry I'll be on an endless treadmill getting new clients over and over again without any repeat business. What's been your experience?

If the client chooses 10% upfront and needs a 30 day extension, is the additional 30 days cost them an additional 5%?

I had someone reach out wanting to know terms for a deal he needs hard money for. Purchase price is $13,500. This will be an assignment of contract to an end buyer for $50,000. Not sure how to help him on this one. Can we do something like this?

I submitted a deal (for the buyer) on Friday that may be too messy for the back-office staff. I don’t even have a copy of the current PSA (just the numbers: current loan payoff, rehab cost, amount seller wants, etc.), but a foreclosure sale is coming up in less than 2 weeks, so I just submitted what I had. Buyer is actually hoping to close this upcoming week. Buyer and seller can make the purchase price whatever it needs to be to make the transaction work. Buyer needs an Echo (and a hard money loan). The seller understands and agrees that the ECHO amount + funding fee will come off their side of the HUD statement (paid from seller’s funds at settlement). A to B contract only. No double close. The reason it was really messy on the submission was because the buyer had the rehab cost, 12 months Interest Reserve, closing cost, etc. included in their purchase price. All the items are listed separately in the submission but totaled together as the purchase price. I didn’t realize this until after I submitted it. I don’t think any HML is going to do it that way because if that total amount is the purchase price that money belongs to the seller and not the buyer (to use for those expenses). For future submissions, should I try to get buyers to understand issues like this and clean up their contracts before submitting?