Banking & Finance

Every business has its share of ups and downs. When the downs create financial distress or threaten your business with a loan default, lender communication will necessarily come into play. In today’s newsletter, we lay out an approach for doing this effectively. Read more… The post What Your Lender Needs to Hear When Your Business is in Trouble (May 2021) appeared first on Goodrich Associates.…
Obtaining a mortgage in today’s market for a future purchase or refinance can be a complex ordeal. A top financing professional can be critical in getting your offer accepted, or locking in the lowest rates and fees with the most favorable terms. Below are some questions you will want to ask, to make the best choice in choosing your residential or commercial lender or mortgage originator.   How will you help me determine my long and short term financial goals in relationship to buying or refinancing a property? Furthermore, which programs are best for me? We will analyze your current…
The Pre‐Qualification…Your FIRST Step to Financing a Home   Because of the complexities of home financing and the numerous loan programs available to the general public, prequalifying must be done by a qualified loan agent (preferably a mortgage originator) in person, via e-mail or over the phone. The prequalification process is both objective and subjective. Lenders look at much more than just how much cash someone has or have much do they make. They look at the “overall picture”, for what lenders call compensating factors, of the applicant. These compensating factors include income, debt, assets, and credit. Consulting with a…
Selling any type of business is complicated. When the business is distressed, there are additional considerations and potential pitfalls that you’ll want to be aware of. In today’s newsletter, I highlight these differences and share tips for making the process go as smoothly as possible. Read more… The post Selling a Distressed Business (April 2021) appeared first on Goodrich Associates.…
https://www.thebridgeloanguy.com This comprehensive and interactive 7-week online educational series will teach you about all aspects of real estate investing to help clients create supplemental income and build wealth over time. We will do weekly interviews with industry experts in every aspect of real estate (financing, financial planning, taxation/1031 exchanges, insurance, etc.) in order to provide you with the tools that you and your clients will need to become a successful investor. We will also answer all of your questions in the Q&A session at the end. Register to attend the live sessions or to receive the recorded versions to watch…
Businesses rely on models and data. That said, pitfalls occur when these elements contain underlying flaws or inaccuracies. Today’s newsletter examines the potential weaknesses of models and data, and offers suggestions for making sound decisions based on how the relevant world work Read more… The post Beware of Data-Based Decisions (March 2021) appeared first on Goodrich Associates.…
Trust is a critical ingredient in the smooth flow of business transactions. As former Secretary of State George Schultz, the man behind the Reagan-era arms reduction agreements with the Soviets emphasized, “Trust is the coin of the realm.” In today’s newsletter, we highlight some of the ways in which you can build — or break down this valuable asset. Read more… The post Trust is the Coin of the Realm (February 2021) appeared first on Goodrich Associates.…
Recently I heard a stat from a Realtor that 10% of the Bay Area’s population in the last 12 to 18 months, have left the Bay Area for other areas throughout CA and abroad.  They have left for the following reasons: Less or no state taxes Lower home prices Lower cost of living Crime and homeless population plaguing our streets. Traffic and congestion For less politics In addition, because of Shelter in Place (SIP) and Work From Home (WFH) companies have allowed employees to “zoom” in and work from home and not necessarily locally.  Even, my staff an I have…
Over time, I have seen that people who own and operate a business often view the transaction of selling their company as a means to an end, whereas professionals handling said transaction make their living doing the deal. The former tend to look at transactions as an arrow in their strategy quiver, while the latter view buying and selling businesses as their business. Many private and family business owners are never involved in such a transaction until they decide to sell their own business. The accepted practices, knowledge and customs are foreign to them, which makes them both disadvantaged and…