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Updated about 9 years ago on . Most recent reply

User Stats

118
Posts
61
Votes
Armando Payano
  • Developer
  • Tampa, FL
61
Votes |
118
Posts

Writing a bio for a commercial loan application

Armando Payano
  • Developer
  • Tampa, FL
Posted

Hello BP,

I am in the process of applying for our first commercial loan. We have done numerous residential loans since we started investing about 2-3 years ago. The loan is for a multifamily residential property. One lender has asked us for a "borrower resume/biography" my initial draft seems a bit sloppy and I am wondering if anyone on here can point me in the right direction so that I can view a well written borrower resume/biography. 

Thanks in advance

Most Popular Reply

User Stats

171
Posts
21
Votes
Tony Talamas
  • Lender
  • Houston, TX
21
Votes |
171
Posts
Tony Talamas
  • Lender
  • Houston, TX
Replied

@Armando Payano @Andrew Johnson

Speak to your real estate experience – single-family rentals and multifamily properties owned and operated, past and present. Discuss each property and the number of units at each property that you have owned and operated – even if as a third-party. Mention properties sold as well. Discuss how you improved those properties – what did you pay for them? How much more did you invest? How did you improve rents, operations, and NOI? What are values today? You want to demonstrate a hands-on knowledge of real estate operations. Elaborate on all of you real estate experience as you would on a resume. One page maximum. This is a great way to have new lenders get to know you quickly.

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