By: Stefan Aarnio
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Now I always get asked by people, should I use banks for my real estate deals or should I use private money?
Now guess what, I hate banks. Banks are not your friend. They are not on your team. They have their own agenda.
Maybe you get a loan or maybe you get a mortgage, but banks love to change their mind. The worst is if you have a loan with a bank or a mortgage and they decide that they want to recall that loan and call it in.
That’s the worst. I don’t like banks. I don’t do deals with banks.
I do deals with private people because I would rather do a deal with a private person and have a relationship and be able to talk about something if there’s a problem than to deal with a bank that has a head office in Toronto or Edmonton or somewhere, and there’s some robot underwriter deciding if my business is going to work or not.
I believe that business is a people business. You want to be doing business with people instead of robots and head offices in Toronto.
Banks are not your friends. Stay away from banks as much as you can. That’s my opinion.
This blog post was inspired by my book Self made. Please pick up Self made. You’re going to love it. If you don’t love it, give it to someone else who loves it and I’ll send you your money back.
Respect The Grind,
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P.P.S. Make sure you come back on tomorrow morning. I will be sharing with you highlights from Raymond Aaron’s presentation at the Manitoba Real Estate Investors Association meeting tonight . Don’t miss it.
Get Stefan Aarnio’s NEW book Self Made at SelfMadeConfessions.com