53 min
How to Get Financing for Real Estate Investing Black Real Estate Dialogue
-
- Investing
Don't forget to subscribe, leave a rating and a 5-star review. I will be shouting out all 5-star reviews on the show!
Today, we sit down with Vernon Beckford, CEO at Diversified Lending Solutions, a mortgage loan advisor which helps real estate operators that are looking to scale their operations to obtain debt financing.
Vernon and his partner were inspired to start Diversified Lending Solutions in order to bridge the gap between budding small businesses and larger, well-established companies. Their clientele typically requires financing in the $5 million to $50 million range. At the same time, the company funds small balance deals on a case-by-case basis, particularly if they are single family rentals, fix-and-flip, or small multifamily or mixed-use properties.
In this episode, we discuss how Vernon and his team is helping to lift up smaller players in real estate, particularly in the black community. He also explains how an operator can create a powerful and persuasive narrative to obtain funding, and how to qualify for funding from Diversified Lending Solutions as a smaller operator.
Highlights
1) If you work at a larger company, you tend to take many financial or operational decisions for granted. As a business owner, however, you are solely accountable for all your decisions. Exercise your entrepreneurial muscle, heavily involve yourself in every department, and maintain a solution-oriented mindset in the startup phase.
2) Small operators tend to do it all themselves: They search for properties, deal directly with brokers, handle their own legal documents, do renovations, and make pitches to lenders. In that situation, so many details can fall between the cracks. In order to save yourself the costly mistakes of signing up for the wrong loan, it literally pays to work with an advisor.
3) Use “objection smoothing” to get clear on why someone would say “no” to your deal. Don’t assume that the other party will share your vision. This way, you may even be able to identify risks that you had never noticed beforehand. You can then start to think about how to manage those risks. Showcase that you’ve thought through all of these concerns to inspire confidence.
How to find him
Website - https://www.dlsloans.com/
LinkedIn- https://www.linkedin.com/in/vernon-beckford-77ba17/
Show Sponsor: Steadily Insurance- https://www.steadily.com/
Learn how to invest out of state- https://www.outofstatemoney.com/
Access all of our resources on our website- https://www.blackrealestatedialogue.com/links
Join the B.R.E.D. Investing Community for $1- https://bit.ly/joinbredcommunity
Download my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1
Learn how to find your first tenant- https://bit.ly/firsttenantcourse
Text BRED to 74121 to join our VIP Text List to get a free training and the latest updates!
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy
Don't forget to subscribe, leave a rating and a 5-star review. I will be shouting out all 5-star reviews on the show!
Today, we sit down with Vernon Beckford, CEO at Diversified Lending Solutions, a mortgage loan advisor which helps real estate operators that are looking to scale their operations to obtain debt financing.
Vernon and his partner were inspired to start Diversified Lending Solutions in order to bridge the gap between budding small businesses and larger, well-established companies. Their clientele typically requires financing in the $5 million to $50 million range. At the same time, the company funds small balance deals on a case-by-case basis, particularly if they are single family rentals, fix-and-flip, or small multifamily or mixed-use properties.
In this episode, we discuss how Vernon and his team is helping to lift up smaller players in real estate, particularly in the black community. He also explains how an operator can create a powerful and persuasive narrative to obtain funding, and how to qualify for funding from Diversified Lending Solutions as a smaller operator.
Highlights
1) If you work at a larger company, you tend to take many financial or operational decisions for granted. As a business owner, however, you are solely accountable for all your decisions. Exercise your entrepreneurial muscle, heavily involve yourself in every department, and maintain a solution-oriented mindset in the startup phase.
2) Small operators tend to do it all themselves: They search for properties, deal directly with brokers, handle their own legal documents, do renovations, and make pitches to lenders. In that situation, so many details can fall between the cracks. In order to save yourself the costly mistakes of signing up for the wrong loan, it literally pays to work with an advisor.
3) Use “objection smoothing” to get clear on why someone would say “no” to your deal. Don’t assume that the other party will share your vision. This way, you may even be able to identify risks that you had never noticed beforehand. You can then start to think about how to manage those risks. Showcase that you’ve thought through all of these concerns to inspire confidence.
How to find him
Website - https://www.dlsloans.com/
LinkedIn- https://www.linkedin.com/in/vernon-beckford-77ba17/
Show Sponsor: Steadily Insurance- https://www.steadily.com/
Learn how to invest out of state- https://www.outofstatemoney.com/
Access all of our resources on our website- https://www.blackrealestatedialogue.com/links
Join the B.R.E.D. Investing Community for $1- https://bit.ly/joinbredcommunity
Download my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1
Learn how to find your first tenant- https://bit.ly/firsttenantcourse
Text BRED to 74121 to join our VIP Text List to get a free training and the latest updates!
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy
53 min