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Mike Wallace #3

Episode 194: How to Work with Community Banks and Private Money

With extensive real estate experience, Mike Wallace helps buyers and sellers meet their real estate objectives. He has a broad knowledge of communities located within the Southeastern Wisconsin area and works diligently on his clients’ behalf to make their home buying or selling experience a pleasant and successful one. He is committed to helping people sell their home or property in a timely fashion while attaining the highest possible price for their real estate.

What you’ll learn about in this episode:

  • Mental roadblocks that prevent people from going after private money and what you can do to overcome them
  • Options to consider once the initial term of the investment is up that continue to make you money as the investor
  • Reasons selling notes is something investors might wish to avoid
  • Why smaller banks are preferable to larger banks for getting financing that is a little outside the box
  • Why private lenders are even better for getting creative financing that goes more than a little outside the traditional lending box
  • How real estate investors really win when they have people competing to offer them money
  • The reason bringing in a bookkeeper may be the most important thing you can do when just starting out
  • The importance of building relationships when investing in real estate
  • Creating a rinse and repeat formula for your business and why it’s the real difference maker
  • Things to avoid when dealing with traditional lenders, like prepayment penalties



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