Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Mortgage Brokers & Lenders
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
Giles Ferrell
  • Queens, NY
0
Votes |
2
Posts

Funding for Baltimore development

Giles Ferrell
  • Queens, NY
Posted
Took a trip down to Baltimore today, to check out the possibility for growth and development. Enjoyed the city, but noticed a great deal of potential for housing. I was wondering if anyone would be able to give me tips on acquiring capital from the banking industry in Baltimore to take on the task of rehabbing and developing these underprivileged areas.

Most Popular Reply

User Stats

16,807
Posts
13,108
Votes
Ned Carey
  • Investor
  • Baltimore, MD
13,108
Votes |
16,807
Posts
Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

@Giles Ferrell if you are talking about seed capital, it isn't going to happen. 

If you have some capital to leverage or partners with money, then make up a presentation package for the bank. Show them your experience. If you don't have experience: then find a partner with experience, or tell them who you are going to use as a contractor, or give them previous experience in other businesses. 

Give them a plan of what you are going to do and how you will profitable. Give forecasts for sales, expenses and a budget etc.

Most importantly make it very clear how they are secured and how they will get paid. What collateral can you pledge? You are going to have your best success with smaller local community banks. Big Banks like Bank of America aren't likely to be interested unless you are planning a much larger scale than I suspect. .

  • Ned Carey
  • Loading replies...