PLP-098: 6 Warning Signs Your Borrower May Be In Trouble
6 Signs your borrower may be in trouble
1. Sudden lack or stoppage of regular communication
2. Late payments/returned
3. They ask you if you can lend them “just a little more”
4. You have to chase them for an update
5. They don’t want you visiting the property
6. Talk about changing exit strategies that require you to “stay in a little longer” (ask their previous lenders because shit does happen, but if they make such biz practices a habit, then you might want to pass on their loan if the numbers are getting thin.