Mhc Properties Ownership Structure

Internship is the best way to break into an industry to build relationship and to get free hands on training. I had the opportunity to work with Mhc Properties which is a real estate and mortgage company based out of Inglewood Ca. They are new to the business but their owners have been in the real estate business for many years. They focus on real estate transactions whether it be residential or commercial property as well as real estate financing. I choose this company to learn how they markets and build their brand in a thriving real estate industry. There are so many real estate company out there already. Many of the companies are well established and have a big share in the market locally and nationally. This company is very small. I would

His name is Sean, He is the founder of the company, he handles all the business and compliance paperwork. He has been in the business since the year 2000. His background also includes being a real estate developer. He is a great communicator. The other one is my supervisor. He is super aggressive his name is Stan he has been in real estate for twenty years. He is super busy which is good and bad. It is good for him but it is bad for me because if I need some help with something I often must wait till he is available. He is the opposite of Sean where as he is a go getter. He is more of a no tolerance type of manger. He is a great sales man. He is one of those that put the cart before the horse, but none the lest he gets the job

Once they get a new client that comes into their office that is looking to buy a home. The first step is to get them prequalified. They collect documentation to see how of a property they qualify for if they qualify. They collect their Last two months of bank statements all pages to see how much money they have saved up. They want to make sure that they did not go and take out a loan. They also need their last 2 months of pay check stubs and their last two year of tax returns to see how much money they are making. They also run their credit to see what their fico score is. The reason for this is because the bank requires all borrowers to have a minimal of a 620-credit score. They last thing that they review is the property itself. They do a full interior and exterior appraisal on the property to make sure the value is there and not inflated. Once they are prequalified the next step is to start looking for a home for them. MHC Properties have a database of properties that they consider based in the location and the amount the buyer can afford. Once they find the property that the clients want they submit an offer to the seller through their agent, then the seller can reject opt accept their offer. If they accept the offer the buyer bring in 3% of the purchase price for a deposit to show good faith. Then the loan division of MHC start working on the finance part of the transaction to get funding for