In real estate development, having fast and reliable financing approval (such as 3-week close times) provides investors with preferred treatment from developers, including first pick of lots, because developers value certainty and speed over uncertain traditional bank financing that requires 6-8 weeks.
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How do you get preferred treatment from top developers? You remove their biggest headache: uncertainAñadido:
So Kyle with discovering this financing, has this changed maybe your tactic when taking down lots?
>> It does. You're you're more sure of yourself when you can go to a developer and say, "Hey, I'll take 18 to 20 and our close time is going to be 3 weeks instead of saying, 'I might be able to do 18 to 10, but let me check with the bank and they might take 6 to 8 weeks, so you're going to have to be patient with me.'" So that gives you preferred treatment from developers as far as getting your [music] pick of lots. They know you're serious and they just really respect that you can [music] come with fast close times and actual solid approvals.
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