Commercial lenders are people of a different breed. (Think about it: They live and die making decisions based on Excel spreadsheets.) They look at properties from a different point of view than the rest of us investors. So, it's wise for you to understand where they're coming from when they reject your deal. In this section, we help you to understand them, and we show you how to put your best foot forward in getting your deal approved for the best loan.
In order to understand how lenders evaluate properties, you need to examine their three main deal prequalifiers — the property's income, the quality of the property, and the strength of the borrower.
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Discover the Jealously Guarded Insights of Real Estate Tycoons and Hot Dealers! Back in the days of the wild, Wild West, when easterners traveled across this vast country looking for opportunity in the newly opened territories, they were often referred to as a ‘tenderfoot’.