Questions about finding a lender.

[Dorian Broadus]

Hi everybody, this is a very open ended question and I am eager to read the replies. 

I currently am 22 years old and have be analyzing deals for the past year. I want to begin working with lenders but do not know what i should be looking for in a good lender. 

In short, 

does it matter where my lender is located? What should the process be when finding a lender and what are red flags that I should be on the lock out for?

Any other tid bits would be very helpful.

[Julien J.]

@Dorian Broadus

Here is what I look for:

- Experienced with my or my clients' strategies and asset class.

- Has access to a variety of products and banks.

- A great partner with the RE agent, they work well together and able to come up with creative solutions to problems.

- Can sell my clients or me to the seller. Provides reassurance that we can close regardless of the deposit, financing, ect. I need to lender to make the offer stronger.

- Is local: Understands the local market, is available at 10pm (with heads up) on a Sunday when I need to put in an offer and have a tailored pre-approval letter. Someone in FL is not going to cut it

- Is always available: I need them to be there during off hours or on the weekend to close a deal.

- Can education, consult, and provide the best options for my clients or I.

- The ability to properly underwrite a client for a pre-approval. Non of that surface non-sense that falls apart a few days prior to close because they didn't dig far enough or didn't ask the right questions.

- Has a dedicated team to support or cover when unavailable and to provide VIP service: pre, during, and post close.

- Last but not least, follow through expectations and close on the loan.