What should go in a good lender packet?
All, I am getting ready to do my first commercial loan. I am debating what to put into the lender packet to make sure I don't have issues when soliciting the debt. I was thinking about putting in the following:
- Personal financial statement
- Prior rent rolls on the property for 3 years
- Some type of public report on the value of the complex (zillow or other) ... not sure on this one
- A profitability statement ... thinking about using the one on this site from https://www.biggerpockets.com/real-estate-investme... (rental property calculator)
- Some kind of summary letter with my intent, actions and management overview
Too much? Too little?
Thanks in advance,
Mike