In the recent years, Tempo Funding, LLC has provided a yield to our investor community of an 11-13% range. While we strive to continue to provide this type of return, market conditions require that we adjust the rate that we pay our investors to align to the rates we deploy the capital on our loans and staying competitive. Our sector of real estate investing and Private Lending, has provided great returns over the last few years. As a result, many new hard-money lenders are entering the space of short-term financing that we have specialized in. While we welcome the competition, we realize that our pricing power have somewhat diminished.
It is our goal to keep our investors, borrowers, closing agents, and other stakeholders informed and in-touch with the latest developments at Tempo Funding, LLC. We aim to accomplish this by providing you updates, education and industry news through this Monthly Newsletter. We hope you enjoy it and welcome your feedback.
This month features:
- Recent deal examples
- Commonly asked questions
Mike Zlotnik / Managing Director
Recent Deal Examples:
Recent Deal Examples.
- Naples, Florida
- Purchase Price $150,000
- Rehab $10,000
- After repair value $200,000
- Loan Amount $140,000
- Funded November 14, 2014
- Closed January 12, 2015
- DeMotte, Indiana
- Purchase price $68,250
- Rehab $42,000
- After repair value $250,000
- Loan Amount $115,000
- Funded May 23, 2014
- Closed December 31, 2014
Commonly Asked Questions.
How to take your business to the next level?
Many of us are small business entrepreneurs. We have left the corporate world and ventured into the universe of building our own business. “We eat what we kill”, taking risks, working hard, and making our own success. Often, we struggle to survive before we can succeed, persevering through challenges and difficult times. The character is built through struggle as it makes us stronger. But at the end of the day, we all want to find a path to success.
I believe that there are two critical steps that every inspiring entrepreneur must take in order to elevate his/her game to the next level:
- Join the right mastermind group
- Get the right business coach
Why these two elements are so important?
First of all, we want to open ourselves to connect to the best and brightest individuals in the same (or similar) business as we are in. Best practice sharing, idea exchanges, networking, support, accountability, camaraderie and charity are just a few benefits that one gets from a good mastermind group.
You discover a new universe when you join the right mastermind group. You save time and avoid mistakes by learning from the best and the brightest, and you also give back to the group by sharing your ideas and success. The group helps you discover your own goals, strengths and weaknesses and your Big Why – what drives and motivates you. Mastermind groups opens your horizons to think differently and helps you implement new ideas in your business, elevating your game to the next level.
I belong to two mastermind groups, namely the “Collective Genius” (CG), http://www.collectivegeniusmastermind.com, and CA Investors Mastermind (Private mastermind of CA Investors). CG is a unique group of the top real estate investors and other professionals around the country that get together 4 times per year to learn, to share, to innovate, to network, to grow personally and professionally, to helping each other, and others in need. Both groups have helped me over the last few years to develop and grow my business quite a bit, and to make a positive impact on the world.
Secondly, the success in business requires having a good coach just like in a sport. Business is very similar to sport because it is a competitive endeavor, preparation and hard work improve chances of success, and it is an ever evolving and developing world. Coach’s job is to help us develop best tactical skills as well as to fine-tune our strategy, keep us accountable, motivated, and focused.
I work with Cory Boatright as my business coach. He’s helped me in many ways; focus on strengths, solve difficult problems and in leveraging my existing network, just to name a few. Cory makes complex things look simple. He is a sharp cat in business, but a humble man in day to day life. If you want to apply to work with Cory, please follow this link: http://realestateservant.com/pcrapplication.
Can a businessman succeed without being in a mastermind group, or without a coach? Sure, he/she can. However, the chance of better accomplishment lies in joining the right mastermind and engaging a good coach.
So, how does one go about finding the right mastermind group, or a good business coach?
Start by research and look for referrals from the people you trust. Social media tools like LinkedIn and Facebook could be quite helpful. Find a few good options, and then look for the “Try before you buy” approach, see if you can attend a meeting on a trial basis, or do a trial coaching session. Research the coach’s track record, and see how well you “click” working with him/her.
The bottom line is that being in a mastermind group, and having a coach will improve your chances. You can switch a coach later on if you outgrow the current one, or if things don’t work well with your first choice.
Elevate your business game by joining a mastermind group and getting a coach. It’s an investment in yourself, personal development, networking, learning and growth. You will see the fruits of your investment for many years in the future. Go ahead and take your business to the next level!