Preparing Your Deal Package – What Lenders Actually Look At

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Preparing Your Deal Package – What Lenders Actually Look At

Michael Santeusanio
Member since 2025 · 111 posts · 56 votes

One thing I’ve noticed in working with investors is that a well-prepared deal package can make or break an approval. Beyond credit and experience, lenders really pay attention to how you present your numbers. Do you include an exit strategy in your package? Or do you keep it strictly financials? Would love to know how others here approach this.

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Michael CalveyPro Member
Head of Sales at BiggerPockets · Denver, CO · Member since 2023 · 124 posts · 154 votes
8mo

Shaza's advice about including both a primary and backup exit strategy is spot-on. That single detail separates serious borrowers from people who are winging it.

To answer your question directly: yes, always include an exit strategy. Lenders aren't just underwriting the deal—they're underwriting you and your ability to execute. A package that's "strictly financials" tells them you can do math. A package with a clear exit (and a Plan B) tells them you've actually thought through what happens after closing.

Brett, to your question about streamlining—it doesn't have to be painstaking once you have a system. The best deal packages I've seen do one thing really well: they make it easy for the lender to say yes.

That means no missing docs, no vague numbers, no "I'll get you the comps later." Everything is in one PDF or folder, clearly labeled, ready to review. When a lender can underwrite your deal in 15 minutes instead of chasing you for a week, you become the borrower they want to work with again.

What Actually Goes in a Deal Package

Most lenders (private, hard money, or portfolio) want to see some version of this:

1. Executive Summary (1 page)

  • Property address, type, bed/bath, sqft
  • Purchase price, rehab budget, ARV
  • Loan amount requested + terms you're proposing
  • Your exit strategy in one sentence

2. The Numbers

  • Purchase price with supporting comps (sold, not listed)
  • Detailed rehab budget (not "~$50K for renovations"—line items)
  • ARV with 3-5 comps within 0.5 miles, sold in last 6 months
  • Holding costs: interest, taxes, insurance, utilities, carrying time
  • Profit projection or cash flow (depending on strategy)

3. Exit Strategy

  • Primary: Sell at $X (show the comp support) or Refi at X% LTV
  • Backup: If the market shifts, can you rent it? At what DSCR? Can you sell at a lower price and still cover the loan?

4. About You

  • Brief bio: experience, past deals, relevant background
  • If newer: who's on your team (GC, mentor, partner)?
  • Proof of funds for your equity contribution

5. Supporting Docs

  • Photos of the property (current condition)
  • Scope of work with contractor bids
  • Entity docs if buying through LLC
  • Personal financial statement (some lenders require, some don't)

Hope this helps!

Resources to Level Up Your Packages

A few things that have helped me (and that I recommend to investors I work with):

  • BP Calculators — The export feature alone is worth Pro membership. Your "numbers" section is basically done for you.
  • Raising Private Capital by Matt Faircloth — Chapter-by-chapter breakdown of how to structure deals and present to private lenders. Matt's raised $30M+ this way.
  • Lend to Live — Written from the lender's perspective. Once you understand how they evaluate deals, your packages get way better.
  • Investor-Friendly Lender Finder — If you're shopping for hard money or private lenders, this matches you with lenders based on your deal type and market. Useful for understanding what different lender types expect.
[email protected]
BiggerPockets
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  • Shaza Atassi
    Contractor · San Antonio · Member since 2024 · 9 posts · 5 votes
    11mo

    When I put together a deal package, I don't stop at just the financials. As a GC and flipper, I always include my scope of work, rehab timeline, and budget so the lender sees how the numbers actually come to life. I also outline my primary exit (usually a flip with comps to back it up) and a backup exit (rental with DSCR numbers). It shows I've thought it through from both a construction and investment angle, which usually makes lenders a lot more comfortable approving the deal.

    0Reply
    • Brett Nachbor
      Kansas City · Member since 2024 · 15 posts · 1 vote
      11mo
      Quote from @Shaza Atassi:

      When I put together a deal package, I don't stop at just the financials. As a GC and flipper, I always include my scope of work, rehab timeline, and budget so the lender sees how the numbers actually come to life. I also outline my primary exit (usually a flip with comps to back it up) and a backup exit (rental with DSCR numbers). It shows I've thought it through from both a construction and investment angle, which usually makes lenders a lot more comfortable approving the deal.


       Is compiling your Deal Packages mostly a manual process with each one and you just tailor it, or do you have a way to streamline and make it relatively quick and efficient to put one together? I generally know what the Lender is looking for, but seems like a painstaking process to compile it all

      0Reply
    • Shaza Atassi
      Contractor · San Antonio · Member since 2024 · 9 posts · 5 votes
      11mo

      @Brett Nachbor my investor is a friend of our family and we have worked together for many years,so the process for us is pretty easy and straightforward.but you can create a deal template that you can plugin your numbers and information and tweak it to what your investors want to see . 
      Im trying to be the investor and GC at the same time and planning to keep both as two separate businesses.

      1Reply
  • Michael CalveyPro Member
    Head of Sales at BiggerPockets · Denver, CO · Member since 2023 · 124 posts · 154 votes
    8mo

    Shaza's advice about including both a primary and backup exit strategy is spot-on. That single detail separates serious borrowers from people who are winging it.

    To answer your question directly: yes, always include an exit strategy. Lenders aren't just underwriting the deal—they're underwriting you and your ability to execute. A package that's "strictly financials" tells them you can do math. A package with a clear exit (and a Plan B) tells them you've actually thought through what happens after closing.

    Brett, to your question about streamlining—it doesn't have to be painstaking once you have a system. The best deal packages I've seen do one thing really well: they make it easy for the lender to say yes.

    That means no missing docs, no vague numbers, no "I'll get you the comps later." Everything is in one PDF or folder, clearly labeled, ready to review. When a lender can underwrite your deal in 15 minutes instead of chasing you for a week, you become the borrower they want to work with again.

    What Actually Goes in a Deal Package

    Most lenders (private, hard money, or portfolio) want to see some version of this:

    1. Executive Summary (1 page)

    • Property address, type, bed/bath, sqft
    • Purchase price, rehab budget, ARV
    • Loan amount requested + terms you're proposing
    • Your exit strategy in one sentence

    2. The Numbers

    • Purchase price with supporting comps (sold, not listed)
    • Detailed rehab budget (not "~$50K for renovations"—line items)
    • ARV with 3-5 comps within 0.5 miles, sold in last 6 months
    • Holding costs: interest, taxes, insurance, utilities, carrying time
    • Profit projection or cash flow (depending on strategy)

    3. Exit Strategy

    • Primary: Sell at $X (show the comp support) or Refi at X% LTV
    • Backup: If the market shifts, can you rent it? At what DSCR? Can you sell at a lower price and still cover the loan?

    4. About You

    • Brief bio: experience, past deals, relevant background
    • If newer: who's on your team (GC, mentor, partner)?
    • Proof of funds for your equity contribution

    5. Supporting Docs

    • Photos of the property (current condition)
    • Scope of work with contractor bids
    • Entity docs if buying through LLC
    • Personal financial statement (some lenders require, some don't)

    Hope this helps!

    Resources to Level Up Your Packages

    A few things that have helped me (and that I recommend to investors I work with):

    • BP Calculators — The export feature alone is worth Pro membership. Your "numbers" section is basically done for you.
    • Raising Private Capital by Matt Faircloth — Chapter-by-chapter breakdown of how to structure deals and present to private lenders. Matt's raised $30M+ this way.
    • Lend to Live — Written from the lender's perspective. Once you understand how they evaluate deals, your packages get way better.
    • Investor-Friendly Lender Finder — If you're shopping for hard money or private lenders, this matches you with lenders based on your deal type and market. Useful for understanding what different lender types expect.
    [email protected]
    BiggerPockets
    2Reply
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