Hey guys, it's Scott Dillingham here with Teresa Beneteau. We are doing a dual show today. So we're using this content for the Wisdom Lifestyle Money Show, as well as Teresa's private investor community because the content is just so important and investors overlook it. So welcome Teresa.
Theresa Beneteau:Yeah, thank you, Scott. And yeah, just to let the listeners know of Trailblazing Tribe as well, is that when Scott and I were preparing for this call today and we were always like to discuss what value we can bring. We're big on value and what do people what what are people struggling with right now? What did we feel that what content could provide the most value, especially closing out 2025. So when we collaborated earlier today, realizing what we wanted to do, both of us were like, Oh my goodness, both of our audience need to see this.
Theresa Beneteau:So I'm super stoked for what you're about to hear.
Scott Dillingham:Yeah, that's awesome. And just one other thing too, Teresa, you can join her tribe, she's gonna leave the details at the end of this for the show note but she is amazing, she wrote the book Insta Wholesaler, like she is someone you wanna know and wanna connect with. So I'm so glad to do this joint effort here. So I know the topic is yours, Teresa, so I'll turn it over to you. And we'll just pretend like we're on your show because you invited me to join yours and I was like, hey, let's do this.
Scott Dillingham:So where yeah, would you like to start?
Theresa Beneteau:Yeah, perfect. So you know what, Scott? Everybody listening to this, like to put date stamps on things. So we're 12/16/2025. And most people right now might be preparing for the holidays and they're starting the good cheer and they're preparing for what's next in 2026.
Theresa Beneteau:Maybe making some resolutions and what I really felt was important today is anyone who hasn't maybe filed their taxes yet for 2024. Now I know I said 2024. However, there are some people that still have not filed their taxes for 2024 and I don't even want to get into 2023 or 2022. But the point being is that it's so, so important to get your taxes current. And Scott, I wanted you on my show today because why is it so important?
Theresa Beneteau:I mean, you're not a tax person. You don't work for the CRA. Why would it be so important for someone to have all of their ducks in a row and have their tax filing? Why is that?
Scott Dillingham:Yeah. I mean, there's many reasons. I'll give you an example of something that happened this year that's been ongoing. And actually to be honest, we have a client coming in at 01:30 Eastern, so we're recording this, it's 12:42 right now Eastern. So in about forty five minutes and this client is literally going through the same challenge that we're gonna be discussing here.
Scott Dillingham:So, but ultimately, if you wanna grow your portfolio and you wanna have access to the best financing, it is important to have your taxes done, not only taxes done, but documents in an organized fashion. So I'll give you the example that we kind of discussed earlier, is at the beginning of this year, we had a client that we funded a private loan for. Now previously he was with a major bank and it's a trucking facility in GTA and the client was good, but when you get a commercial loan, they do like an annual review and they just check on everything. Well, the client didn't have all their paperwork in order, so the bank said, Well, we don't wanna renew, replace us, and it's multi multi million dollar loan, but they're like, No, we don't care, you don't have your papers in order. So we got him reapproved with a credit union and a better rate than he had.
Scott Dillingham:So like at the end of the day, it's like a blessing in disguise, but an expensive one because he's had this this private loan the whole year. But long story short, the credit union says, we'll activate this for you as soon as you get your documents in order. So same thing the bank was telling him, he still doesn't have everything in order. So he's currently with the private lender, but I know it's coming to the end where he should he should be so then we'll we'll move forward. But, know, on a $4,000,000 loan with private lending, with fees, broker lender fee, right?
Scott Dillingham:Like, it was expensive for him to not do this. So these things happen all the time and I know that's more of an extreme case, but I wanted to paint that picture. Like you have to have everything in order if you wanna access the best financing.
Theresa Beneteau:Yeah, and it's a great point and even for my students that are watching this too, is that we'll say that you're not talking about a multi multi million dollar deal. We'll say that you're just talking about your personal residence. Even if you're looking at refinancing and saying, know what I'm hearing is that if I do an ADU, if I just pull out a $100,000 equity out of my property and look what I can do with it. And then all of a sudden you're gonna go to a lender and a lender, one of the first things they're gonna say to you is, okay, have you filed your taxes? It's going to be one of the top five questions that they're going to be asking.
Theresa Beneteau:They're going to want to see a letter of employment. They're going to want to see pay stubs. They're going to want to see a T4. They'll want to see T1 generals if you're self employed. T4 is if you're working for someone.
Theresa Beneteau:They're going to want to see your credit bureau. So, I mean, it even ties into your credit bureau as well as that if you're not filing the taxes, are you keeping an eye on your credit? Are you knowing what's going on? Because all of a sudden you have this great idea or your mortgage is up for renewal and you're going, Hey, you know what? I want to switch lenders.
Theresa Beneteau:Now, most cases, correct me if I'm wrong, Scott, when you're just simply renewing a mortgage and it's with an institution, you can just sign on the dotted line and they're not asking for usually any new paperwork. Is that right?
Scott Dillingham:Yeah. On the residential side, yes. They will just issue the renewal. There's no requalification. K.
Scott Dillingham:I will add a little bit of a caveat there. Yes. I've seen requalification when I worked at a bank when the borrower had a large line of credit and their loan was up for renewal. They did wanna check that. But if it's just a regular mortgage, I don't see any challenges there.
Theresa Beneteau:And then when you're getting to commercial, what happens at the end of five years or at the end of three years to commercial? Do you have to requalify again?
Scott Dillingham:No. No. They'll same thing. And let me take a step back actually. I should say yes.
Scott Dillingham:Technically, you're requalifying every year because on commercial, they're quite often doing the annual review. So they're just making sure that what they approved for you, everything is going about the same or better. I've seen them still renew when things were going worse, like say for an example, we did a, you know, a 10 unit commercial loan and a couple of the units are vacant now, right? So when they do the annual review, they're gonna see the incomes down, but they know big picture, they're gonna be re rented out, so they're okay with it. So it doesn't necessarily mean like game over on your loan, but they they do look for that.
Scott Dillingham:And just to play devil's advocate and me ask you a question, why do you think the lenders like, what's one of the most important reasons why lenders want the taxes to be paid? What do you think Teresa?
Theresa Beneteau:Yeah, well, and I would be saying right away is because CRA will always take precedence even over a mortgage. CRA even comes before your property taxes. So a lender cannot afford for you to owe any money on your taxes. And I've had so many of my students say, but I know I don't owe. I know they owe me.
Theresa Beneteau:That's all fine and dandy. But the reality of it is, it's the documentation and having all of your ducks in a row.
Scott Dillingham:You nailed it. And the precise term is a judgment. So CRA will file a judgment against the property. Okay. If you're past due on taxes and it supersedes any lending agreement or anything that you have on that title.
Scott Dillingham:So CRA can force sale and take the property from you. And if your taxes are so big, that might not leave room for the lender to be paid back if a sale is forced. But they don't care. They don't care.
Theresa Beneteau:So
Scott Dillingham:that's exactly why that's the reason you nailed it.
Theresa Beneteau:Yeah. So I know that right now what I'm doing, especially going into the new year is running an eight week program for my students. And one of the things that I cover in week one is a lot about mindset and right away in part of that mindset is talking to a mortgage broker and encouraging them and saying, you know what, find out where you are. And I find that so many people are so excited about where they're going, but yet where are they now? Now, how important is that Scott for me to know where I am right now?
Theresa Beneteau:Is it do I come to you with an offer to purchase and say, here, buy this and give me the money. Is it that simple?
Scott Dillingham:Well, if that is what you do, it's usually always a mess because when you buy without the steps before it, which is the pre approval and the document collection, you don't know necessarily what you're gonna be asked and you also don't know how much the lenders will pre approve you for. So you could buy a home and then discover that they're not actually going to approve you for that much. Now, maybe you know mentally, you could afford those payments because maybe your rent was that high, but the lenders still have a requirement that they look through. So I think it's super important to absolutely do the pre approval and then kind of to tie back in with the document collection is that, I grew up joining like rich dad, poor dad investment seminars and stuff and they always talked about getting your financing binder in place. Yeah.
Scott Dillingham:So that when you have a deal, you're submitting it and it's a complete file and I do encourage investors to do that. Now, today everything's so fast, right? It's life in North Ontario is fast. So clients usually are not prepared. So one of the value adds that we do do when you work with us is, we're gonna package up your documents, we know what the lender needs, so we're gonna request the proper things from you.
Scott Dillingham:We're gonna package them up, name them, file them, sort them, all the above, into a way that's super easy for the lenders to decipher, and it's gonna help maximize your approvals. But we can also share those back to the customer. So it's still their documents, right? But now we've filtered it the way that the lender wants to see it and because of that, on your next application after that, you're gonna be more prepared and ready to go. That is one of the things that we do, but yeah, documents, I can't stress it and that's why I wanted to do this episode with you is organizing the documents is just so important.
Theresa Beneteau:Because I mean, if you're trying to get documents from CRA, even if it's the notice of assessments And I'm a retired mortgage broker and I'll tell you, were so many clients where it would take a month or two months or three months for them to even file anything back. Mean, yeah, there's auto filing and e filing and all that, but sometimes the lenders say, okay, we want this. And you're like, I can't find it. So it should be as easy as that. And sometimes it's not.
Theresa Beneteau:Yeah, there's some stuff that's online and all that, but you know what? And all I would say to any of our listeners, Scott, is that a stitch in time saves nine. So we're coming. We're ending 2025. What a perfect time to take the holidays.
Theresa Beneteau:I mean, the holidays in all reality is one day. I'll give you two days, but the other ones when the world is slowing down is take that couple of days to get yourself in order so that you're prepared to file the taxes that when your property comes up and all of a sudden you're talking to a lender and maybe another lender says, hey, wait a minute. Or definitely anybody that wants to connect with me. I will connect you with Scott. Is that now coming off with Scott and saying, Scott says, okay, well guess what?
Theresa Beneteau:We're going to move you from where you are now to somewhere else. And like Scott said, is that he's already gonna have your package. So he might only need a couple of tweaks. It's not that your information never goes stale. Really, it can almost be good for a year if you think about it.
Theresa Beneteau:So it's not that anything is gonna go, and even now we're in December. So we'll say in January, I put an offer on a property. Are they gonna want the 2025 taxes or just the 2024 taxes?
Scott Dillingham:They'd still want the 2024 up until around March, April. Because that's when you can kind of file more so April, but like March, I start lenders start to ask for it because they know the closing is sometime in the future, so they know that the client could file them and get it going. Mhmm. But, yeah. Kind of a side note, but not really.
Scott Dillingham:I really wanna paint the picture of how important this is. So, I had a customer, we just closed his second transaction, that's what I'll call it because what happened is great client, fantastic credit, he owed CRA a $100. So he wanted to refinance his home to pay off CRA, but the major banks, because of how much he owed, nobody would do it. I mean, he had a couple requirements, right? He needed a lender that had a readvanceable line of credit, So that's where you pay down the mortgage, it goes to the line of credit.
Scott Dillingham:So there's not a ton of those that have that. So his options were limited, but within that, they didn't wanna approve him because he owed too much. If it was a couple grand, they probably would have been okay with it. So what we actually had to do is his first transaction, we got him a private second mortgage, we paid off his taxes and we got his notice of assessment. Now in this guy's case and to your point, it was fast to get it because he already had access to his online CRA account, so as soon as they processed it, you know, he got it, plus this was at the November when he filed his taxes and paid it with the first transaction, So it's not their tax season, so they were quicker.
Scott Dillingham:But to your point, Teresa, like, you don't have access to your online account and CRA's mailing you your code to get access, what if, like, we keep having, right, mail strikes and do you know what I mean? It's not good and it could take forever. But in this case, Casey got it quickly, then we move forward with the primary lender as a refinance again, but now he's group paying off his existing mortgage because it wasn't like good terms, he didn't like it. And then we're paying off his second private lender, all in one and that just closed for him. So that's like what we had to do because he owed CRA that money.
Scott Dillingham:So it's important and people do think that, we get asked all the time, Oh, I'll just refinance. It's not so cut and dry. I mean, again, if it's a smaller balance, probably okay, but if it's a bigger balance, they won't let you.
Theresa Beneteau:Yeah, the lenders are all about them, right? And the other thing that I found is that the cheaper the interest, the more paperwork. Yeah. The more documentation and so many of us find that intimidating. A lot of us find that paperwork, oh my goodness, when we're panicking and stuff like that.
Theresa Beneteau:I'm big believer in how do you eat an elephant? One bite at a time. So knowing that, like Scott just said, is you maybe have until March before lenders are gonna start asking for just the previous year. So you've got a little bit of time there where talk about a time machine. So right now we're December 2025 up to maybe March.
Theresa Beneteau:They're only going to be asking for 2024. But then after that, anything closing after that, they're going to be asking for 2025. So if you're not current on 2024, get the that out way and start preparing for it. Even if you commit to, I'm big on accountability. I'm big on clarity.
Theresa Beneteau:And you focus. So if you're looking at the accountability is even if you take, and I do this with some of my students that they hire me just to be their accountability coach. And literally it's okay, you know what, fifteen minutes, just give me fifteen minutes once a week towards this. And it might not sound like a lot, but compounded, that's an hour a month. And if you do just fifteen minutes every Friday or at once a week, whatever day of the week works best for you, just by taking that fifteen minutes of just saying, okay, I'm going to focus on this.
Theresa Beneteau:Now, depends when circle back to clarity, Scott, is that, you know, do you agree that people should know what do they want? Cause if really, if they're not going to get any mortgages and they're not going to do any financing and you know, there's no, there's no, I guess reason why Really, it's not something that they have to do. Really, the only time that it comes up is if all of a sudden there's an urgency. I want to buy something. I want to refinance something.
Theresa Beneteau:As soon as you want money, you're gonna have to all of a sudden produce all of this stuff. So, and I love how you said that there's an actual binder as well as keep that. Well, I mean, can be a binder, it can be a folder on your desktop, but just to have all that stuff in order, 100%.
Scott Dillingham:Yeah. And I'd like, I I, you know, I wanna preface to saying, I don't think anybody is excited about documents, even myself. Right? Sweet. When I'm wanting to make a purchase, going through all the documents, like, it's not fun.
Scott Dillingham:I hate it. Yeah. Actually, hate it. Maybe I hate it extra because it's like what I do for a living, but I know it has to be done. And then when I submit everything, I actually feel quite relieved because I do try to actually keep it as organized as possible.
Scott Dillingham:I've got a folder and then each year, I'm just updating things. And when I go through the applications, I'm like, wow. Like, I'm actually glad that I was organized, but it's kinda like a bit of anxiety or stress does build up when you start thinking of like, oh, I gotta collect all these things. So even for me, that literally that's my jobs. Yeah, just know it's normal, okay?
Scott Dillingham:But by being proactive, it'll make your life a lot easier down the road, absolutely.
Theresa Beneteau:And the why, I believe in that, right? I believe in the why. Why are you doing what you're doing? And I mean, if there's no compelling reason, you're not going to do it. Well, sure.
Theresa Beneteau:A lot of us procrastinate and stuff like that. So yeah, it's part of it now, just to kind of maybe go off topic, but not really is credit. Now, how important is credit when you're doing a refinance or a purchase? Scott?
Scott Dillingham:Yeah. I mean, I have a couple of answers here for you. I think your answer depends on how important it is to get a good rate. Because if you don't necessarily care about the rate, like, say it's like a flip property or, you know, just just something like that. You don't like, the rate is less important because you know the final end game and your your total profits and whatever, so you're okay with a higher rate.
Scott Dillingham:If that's what you're okay with, then your credit is okay if it's not that great. But if you wanna get the best terms, it's very important. The lenders are not gonna give you the best terms. We had a lady calling today. She wanted a fixed rate.
Scott Dillingham:She was buying a primary home and we have fixed rates under 4% at the December, but you have to have excellent credit scores. So this lender is looking for a 680 credit score or above and her score was 613. So she was you know, disappointed and rightfully so, but she was disappointed to know that she couldn't get that rate. She was able to get 4.19, which is still very competitive, but we had to change lenders because we had to go with one that would support a lower credit score. So that's how it works.
Theresa Beneteau:Now, is it all just about credit score or is it what is on the credit report itself?
Scott Dillingham:Well, it's definitely so I would say the score is very important as long as the client has a thick credit profile. What I mean by that is multiple items on there. Because we've seen people that have a fantastic credit score, but they don't even have any open credit. They might've had a car loan or something in the past that boosted their score up, but now it's gone. So they have no credit card like nothing.
Scott Dillingham:So in that case, even though they have a fantastic score, it means zero, because they don't have anything on their report. So they are looking for a fantastic score. I'm gonna say 680 or above, right? If you can be 680 or above, most, if not all options are available to you, but you have to have multiple items on your report.
Theresa Beneteau:And it's good to know that, right? Is that what's it like if someone has no credit? So there are some students that I have that have no credit at all. They've never had credit and they wanna go and they wanna go buy an eight unit property. So what happens in that case if they have no credit?
Theresa Beneteau:What do you think the outcome would be on something like that?
Scott Dillingham:It depends. Like we have some credit unions and I've not seen the no credit scenario, but I've seen the bad credit scenario, scores in the five hundreds, and they didn't even care. We went commercial and the deal covered itself so nicely that they just moved forward. Now I can't say that will always be the case, but like I've seen it. So I think commercial, if we're going conventional and not where they're looking at you personally, but they're looking at the property, I just wanna clarify that because I don't want a dentist and I'm just making this up.
Scott Dillingham:Let's pretend a dentist has bad credit and then he's buying an owner occupied property, that's not gonna work because they're looking at him or her to qualify. But if it's an investment property and it's rented, that's what they're gonna look at to qualify. So it's different lenses, so it does depend on your scenario, that would be one avenue that we could entertain. So potentially, we could get credit union pricing as of today, mid fours to mid fives would be the range on an eight unit with someone with poor credit. Again, I've never done the no credit, so I don't want to necessarily speak to that.
Scott Dillingham:Usually people have something, whether it's good or not is the question, but usually there's something. Okay.
Theresa Beneteau:And then what other things could someone prepare themselves for in the new year to prepare themselves to get financing on a property? I like to talk about always rental properties, right? So I like to talk in the commercial space, six units and up is what would they need to prepare for that? If they've never done this before, they've never sat down with a mortgage broker like yourself before, they don't know what to do. What would be some of the things that they could prepare for ahead of time?
Scott Dillingham:I mean, it's definitely there's many different answers that we could share here, but I think high level, what we went over in this call is obviously documents. Then I think from there, it's important to understand how to underwrite these deals. We have tools available. I'd be more than happy to share it with everybody. It's the tools the lenders use to run, the NOI or net operating income or debt coverage ratio.
Scott Dillingham:These tools figure out those numbers that the lenders use to calculate your loan. So I think that's important as step two is learn the underwriting because you could have all the documents in the world, but if you're buying properties that don't work, right? There's problems. So gotta underwrite for positive cash flow. And then from there, six units is pretty easy to do without any partners.
Scott Dillingham:So that should be fine. They should be able to qualify by themselves. But that's what I'd say, because your documents are ready and make sure you have solid underwriting. And those two things combined should make your approvals easy.
Theresa Beneteau:Yeah. And I guess what I'm hearing Scott is that it's doable. Right? And so many people are worried, what if I can't? And, oh my goodness.
Theresa Beneteau:And we heard it from Scott of how easy that it can be is just having your documentation order. I also would recommend anybody is doing a credit check on yourself, even if it's Credit Karma, whatever it is, Borewell, whatever means that you want to do is, or you just simply send something to Equifax. I think it's equifax.ca, if I'm not mistaken. And just reach out to them and say, I want a credit check on myself because you don't know what you don't know. There might be a bill and I've had that come across before when
Scott Dillingham:I was
Theresa Beneteau:a mortgage broker, all of a sudden they were like, well, wait a minute. I've got my cell phone in collections. Well, that was five years ago. Yeah, but it's still in collections. And so some people aren't even aware of what is going on.
Theresa Beneteau:So you don't want the I guess what I'm getting at in this call too, Scott, is that you don't want surprises, right? There's already I mean, surprises are great, right? If you're expecting them.
Scott Dillingham:And it's around the holidays.
Theresa Beneteau:That's right. And you don't want to all of a sudden have this surprise of, Oh my goodness, there's this on the bureau. There's that on the bureau. Like Scott is saying, he said the magic number 680 and over. So you want to make sure that you're doing everything you can.
Theresa Beneteau:Credit utilization, Credit Karma is really, really good. I send a lot of people there. I don't get paid for that, but I send a lot of people there where it'll keep an eye on, okay, are you paying? Are you making your payments on time? What about your utilization?
Theresa Beneteau:So if you have a $10,000 limit on your card, how much of that are you using? Because depending on if you have it maxed out to $10,000 that can affect your credit score. And you wanna make sure that.
Scott Dillingham:One final tip that I have is to your point is, I would check both TransUnion and I would check Equifax. Because I've seen it multiple times. Now, as mortgage brokers, I'm gonna say, 95 out of a 100 lenders use Equifax. Okay, that's kind of the gold standard. So that's what we check.
Scott Dillingham:And I'm also gonna say, probably even 99% of the time, everything with the client's credit is going to be on the Equifax. So if you're gonna check one, I would do Equifax as the primary, And there are like you could do that through Credit Karma or whatever, but just make sure it's Equifax. However, I would recommend that you check TransUnion because there have been, I'm gonna say probably 10 times over my career. So it's not a lot, right? Especially when you're funding hundreds of loans per year.
Scott Dillingham:However, there has been times where things were reported exclusively to TransUnion and not to Equifax. So if that happens, that can come up at any time. Right? Because again, we're instructed and taught to check Equifax that we don't need to also check TransUnion. The lenders just want Equifax, but for example, if it's going to CMHC, they will often check all the credit reporting agencies just to see.
Scott Dillingham:Okay? So things can be uncovered. So anyways, just check both and if something's on there that you know is not you, then you contact whether it's TransUnion or Equifax, and you can dispute a transaction, and you can get that removed, and then your score will improve if it's removed. So sometimes that happens, There's errors and these items can be removed.
Theresa Beneteau:Yeah. And the one thing just to wrap it up as well is that I do deals where I come in as the active partner. So I'm approaching passive partners and I will say to passive partners, okay, you know what? Why don't you send me your credit bureau? Because I want to know where you stand and I'm also sending them mine and I really want to tie that in and I and I say this to my students is that you want to be able to show these private investors how your credit is.
Theresa Beneteau:Like it's not just for raising capital or sorry, getting mortgages, but it's also for raising capital on projects. And you want to be able to come on and say, this is who I am. It's a third party documentation because I can't fudge with it. I can't do anything to make my credit score go up or down. Well, I I can do things to make it go down, but to be able to make it go up is a little bit more challenging.
Theresa Beneteau:So because it's third party, I can now offer that and it brings credibility when you can show a six eighty or more credit score and you can show things to these passive partners that you're approaching and going, I have nothing to hide. Here you go.
Scott Dillingham:That's it.
Theresa Beneteau:And there's leverage there.
Scott Dillingham:Now I have a question for you, which might seem off topic, but it's not. I'm gonna tie it all in in a second. What other items do you ask for from your JV partners to see if you wanna partner with them?
Theresa Beneteau:The one thing that I have used in the past, I was selling a business and these people approached me and they said, well, instead of selling it to us, why don't we all partner? Because you already know the business. Already know how to do this. I said, perfect. I said, we'll do that.
Theresa Beneteau:So the first thing I said was, I says what I'm going to do is I says I'm going to pull a credit bureau myself and I'm gonna send it to you. And then they said, okay, no problem. And then I said, second thing I'm going to do is I'm gonna go down and get a police clearance.
Scott Dillingham:Okay.
Theresa Beneteau:That everything is okay on me because again, if you're going want me to manage your property or you want me to have any active part of this deal, or in this case it was a business, but you want to know who you're in business with. And I said, I'm going to send this off to you and they said great. There was some posture on their part, but the reality of it was Scott. As soon as I said to them now what I'm after I send this to you, I want you to send it to me and these guys went snake eyes. They went completely ballistic.
Theresa Beneteau:They said, you know what? We're not doing this. I don't share this information with anybody. And I thought, you know what? You just gave me all of my answers.
Scott Dillingham:Yeah. So it gave you the conclusion not to partner with them. Correct?
Theresa Beneteau:Absolutely.
Scott Dillingham:Okay. Perfect. So to tie all this back in, this is why it's so important to have your documents ready. Even though the taxes aren't quite due yet, if there's a deal and you wanna partner with somebody and one of the partners doesn't have their documents or things are a mess, it's a huge red flag not to partner with these people. And you've just kind of proven that indirectly, right?
Scott Dillingham:You didn't know I was gonna ask you and that's where my brain was going with this, but you've proven it, why it's so important to have your documents as part of this. So thank you for that.
Theresa Beneteau:Yeah, and that again, it together with you, Scott, is that, yeah, if there's four partners on the deal and I'm the weak link because I don't have all of my paperwork and documentation done, I've just really pardon the expression, screwed myself out of the deal because I'm showing my partners that I'm not diligent. It's one thing to show up March 1 and say, I don't have the previous year's taxes because it's acceptable, But it's not acceptable in December 2025 to say that I haven't filed for 2024. Yeah. Because now I'm showing because the one thing I've learned Scott, is that the way you do one thing is the way you do everything. So if I'm relying on you to be my lender partner and I'm requiring on you being able, I'm relying on you going to the lender and qualifying for that mortgage and you have to provide all that and you don't have all of that together, forget the closing date.
Theresa Beneteau:Everything is gonna go awry. You wanna think about that going in, right? You wanna know. So there's so many reasons so that you can turn around and go, here I am, here's mine. Are you ready?
Theresa Beneteau:And it shows how you're going to show up because if your partners can't show up with that same documentation, that same readiness, you're gonna have that problem later too my friends. If you're going well, it's okay. I forgive them. They're busy. Well, guess what?
Theresa Beneteau:When it comes to renewal or refinance time or to pull your capital out, they're not gonna be organized then either.
Scott Dillingham:Exactly. It's
Theresa Beneteau:gonna come back. So Scott, again, thank you so much for your time. We do our calls for thirty minutes and you're so generous with your time. Anybody wants to get ahold of Scott, please get ahold of me. Him and I have made an arrangement that he is willing to work with you personally to be able to even unlock maybe see where you're at in your portfolio, what this looks like.
Theresa Beneteau:But he's willing to do that as a favor to me. I send a lot of people to him. And yeah, Scott, I really, really want to thank you and anybody who's looking at any kind of coaching. I'm a real estate investing coach. You'll see everything on my website.
Theresa Beneteau:You're looking at wholesaling fix and flipping a buy and holds whatever it is, I welcome a conversation and Scott to anyone that comes through you. If they just mention your name to me, I'll also give them a courtesy call with me personally too. If there's any way that I can help them move the needle, I'm willing to do that.
Scott Dillingham:That's perfect. And then obviously for those that are listening and it's listening to the Wisdom Lifestyle Money Show, you know how to get ahold of me.
Theresa Beneteau:Thanks everyone. Merry Christmas, Happy Holidays, Happy New Year and many, many blessings.
Scott Dillingham:Okay, take care. Thank you, Teresa.
Theresa Beneteau:Thank you. Bye now.
Scott Dillingham:Bye.