Abby Thompson, our CFO and host of the weekly In the Weeds podcast, answers some of the questions sent in by our apprentices, related to the financial side of real estate deals. Tune in to get more clarity on financing your deals.
What Is Covered:
- How Abby came to work with Brad and what problems she helped sort out in our company
- Why it’s so important to keep your finances in check and why you need to learn to be okay with making mistakes
- How to learn to read real estate documents when you are dealing with HUD homes
- How to make a payment on the mortgage if you are a different person than it’s written on the mortgage
- How to set up to pay for utilities remotely
- The purpose of filing a memorandum after you’ve signed a contract
- How home owners insurance works in a subject 2 deal that already has taxes and insurance escrowed to it, and you’re selling it to someone who’s going to need to get insurance in their own name
- Which six documents you need signed at the time of closing a deal with a mortgage company
Abby teaches us that nothing is impossible in this business. It’s easy to get bogged down with failings, but if you are willing to persist and learn, you’ll find your way to success.