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Updated about 1 hour ago on . Most recent reply

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Joshua Parker
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How to build a relationship with a lender?

Joshua Parker
Posted

When researching real estate financing and how to get your first property, I have always heard that it is a good idea to build a relationship with the lender before getting financing from them. However, what specifically can I do to build a relationship with a lender? I plan on investing a lot in the Orlando area, and I have heard that it can be a little easier to work with a smaller local bank, so I was considering opening a checking account. Is this enough, or is there more I can/should be doing?

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James Wise#4 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
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James Wise#4 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied
Quote from @Joshua Parker:

When researching real estate financing and how to get your first property, I have always heard that it is a good idea to build a relationship with the lender before getting financing from them. However, what specifically can I do to build a relationship with a lender? I plan on investing a lot in the Orlando area, and I have heard that it can be a little easier to work with a smaller local bank, so I was considering opening a checking account. Is this enough, or is there more I can/should be doing?


 You can open an account sure, but that's not gonna get you a loan you wouldn't be able to qualify for if you didn't already have an account with them. Honestly most banks like that just make everyone who applies for a loan open up a checking account with them as something they have to do to get approved for the loan anyway so it doesn't really matter.

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