With the current credit crunch in full effect, how is it impacting your business? Despite the recent goverment cash infusion, most banks are still in a no-lending mode from anything such as A&D projects all the way down to car loans.
This has forced agents, buyers, brokers to search for alternate avenues in securing financing. Some people are looking to hedge funds/private equity firms for financing while others are trying to be more creative in structuring deals in an effort to still obtain bank financing.
This can be from incorporating seller held seconds to lower the LTV, collateralizing the loan with additional property to lower the risk, or trying to obtain loans through goverment programs.
What techniques are you using to get to the closing table?