The Importance of Examining a Seller's Profit and Loss Statement in Detail with Michael Coffee

Michael Coffee has been in the commercial real estate industry for 22 years, starting with a small brokerage that did both residential and commercial real estate. He began in residential then moved to commercial as an analyst, packaging loans and coordinating with various parties to ensure a successful close. After this, he moved into an origination role where he was able to use his experience to find deals and avoid issues that often arise. Michael then joined Stacksource and has successfully used their tech platform to find the broadest range of capital sources for his clients.

Connect with Michael Coffee! https://www.stacksource.com/

Look for REI Mastermind Network and subscribe through iTunes or your favorite podcast app! If you like what you hear please give us a rating, like, and share. It really helps the show grow.

SUBSCRIBE to the PODCAST!
• RSS: https://feeds.captivate.fm/reimastermind/
• Website: http://reimastermind.net
• Apple Podcasts: http://bit.ly/REIApplePodcasts
• Google Podcasts: http://bit.ly/REIGooglePodcasts
• Spotify: http://bit.ly/REISpotify
• Locals: https://reimastermindnetwork.locals.com/
• YouTube: http://bit.ly/REIYouTube
• Facebook: https://www.facebook.com/REIMastermindNet
• Twitter: https://twitter.com/rei_mastermind
• Instagram: https://www.instagram.com/reimastermindnet

SUPPORT THE SHOW!
• Get Six Months of RentRedi for $1 https://app.rentredi.com/signUp/JCH191
• Join the Community on Locals! https://reimastermindnetwork.locals.com/
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo: https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop: https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - JD

TIMESTAMPS
00:00:00 reimastermind.net
00:00:49 22 years in commercial real estate origination
00:05:00 Lenders differ in residential and commercial investments
00:06:36 Personal financial statement needed for loan consideration
00:12:00 Common issue: PNL not reviewed thoroughly
00:17:22 Experience, track record, availability key in lending
00:19:22 Small banks can change guidelines frequently
00:24:40 Avoid majoring in the minors
00:26:20 Realistic expectations for property investment success