Business Plan for a Loan
Hey guys! I am in the middle of my first deal right now. I'm going to purchase a 8 unit property from my parents that are ready to retire from the land lord career. I am looking to do a 85/15 mortgage loan through a local bank that I have some lending history with. I just finished up my financial statement and need to work on a business plan next. Can anyone tell me what a portfolio lender is looking for when it comes to a rental property loan? Past cash flow history? future plans with the property? I am just trying to think of what I would like to see as a lender. Any input at all would be helpful!