Dress for success, really matter??

Private Lending & Conventional Mortgage Advice

Dress for success, really matter??

Colorado Springs, CO · Member since 2016 · 45 posts · 10 votes

Hello all! I was just thinking before I go to a new small bank and inquire about financing and opening new accounts, how important are the clothes I wear? Let me tell you about my everyday work attire, I’m blue collar, I’m a commercial refrigeration technician, I wear a uniform. The uniform is clean, tucked in, and I have a good appearance. I don’t dress slovenly for work. Should I change things up when going to inquire about loans, accounts, etc.? Polo shirt and khakis? Even though I turn wrenches, I earn a lot more than expected. When most people enquire about my profession and see my W-2’s they’re sometimes surprised. Should I dress more “white collar”? Should I treat it like a job interview? As in, dress for the job you want? Jeremiah

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Rami Dababneh

Rental Property Investor · Orange, CA · Member since 2017 · 18 posts · 17 votes

Hello all The underwriter is who’ll make a decision and will never see you nor your outfit. He only sees your debt to income.

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Tanya F.
Rental Property Investor · Madison, WI · Member since 2013 · 629 posts · 339 votes
8y
@Jay Hinrichs, I acknowledge that the rules (standards) for forum posts are different than for other transactions. Sad, but true. LOL, shrug.
You do have a lot of experience to share! And it's really good that you know there are errors that you miss, and you care/make the effort when you need to. For speed- I wonder if speech recognition/ transcription might help?
But I absolutely will hold contractors and other people with whom I do business to a high standard.
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Michael Plante
Deland, FL · Member since 2017 · 2k+ posts · 1k+ votes
8y
I am going to give myself every chance I can to succeed in my mission. If that meant dressing a little nicer Maybe this is why I don’t get loans for investment properties. Lol
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y
Originally posted by @Tanya F.:

@Jay Hinrichs, I acknowledge that the rules (standards) for forum posts are different than for other transactions. Sad, but true. LOL, shrug.
You do have a lot of experience to share! And it's really good that you know there are errors that you miss, and you care/make the effort when you need to. For speed- I wonder if speech recognition/ transcription might help?
But I absolutely will hold contractors and other people with whom I do business to a high standard.
not to get totally off the subject but when I was logging in Oregon .. the loggers being some of the most upstanding people on the planet.. Many simply were raised in the woods and even though they made big money and we paid them big money to log for us.. many times far more than a million a year as a sub contractor ... you could never hold them to any kind of standards .. heck the permits were fill in the blanks.. As many just never got the reading and writing that well. but they could log.. and run big machines.
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Tanya F.
Rental Property Investor · Madison, WI · Member since 2013 · 629 posts · 339 votes
8y
There will always be exceptions. Conversely, my framing contractor has a college degree (in biology) and we talk about movies and books. Word of mouth recommendation from people I trust supersedes any of this superficial stuff like dress [and spelling ;-) ]. My superficial first impression matters little if someone on my team has said really good things about someone.
There we go, back to the topic at hand.
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Jason Ray Richardson
Rental Property Investor · Brookhaven, MS · Member since 2017 · 186 posts · 108 votes
8y
Especially important if you have not established yourself as an investor that knows what they are doing. Dress like you are going to an interview for a job.
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Jeff Feldman
Member since 2018 · 7 posts · 12 votes
8y
You should look professional if u bring all the required paperwork, financial statements, business plan etc (all proofread of course) in a nice neatly organized manner. Any banker who judges on looks is unprofessional. I would suggest basic hygiene though, so they don't go ewww i dont wanna shake this smelly hobos hand or making a mess all over their nice furniture. Now job interviews unfortunately are a different story for most people
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Mike Hottinga
Lake Havasu City, AZ · Member since 2017 · 58 posts · 23 votes
8y
@Jeremiah Dye I will give you my experience as a newer investor. I live in the AZ desert where it is 115 on average in the summer month, I don't wear suit and tie often in the summer. I usually wear a clean/wrinkle free button up, clean/wrinkle free shorts, and clean shoes. I notice the small attention to detail more so that the overall look.
Besides dress attire, I have a hard time getting people to take me serious when I talk about buying a property. I am 28 and the typical 28 year old here is broke and not well put together financially. Most "successful" people in my area are much older than myself, mostly retirees from other states with lots of retirement money to deal with. I just had a meeting with a PM and associate broker and I got the feeling that as soon as they saw me they thought I was wasting their time because I am younger. I took a few hours to make a finances report book to show them my account balances and have proof I have money to make something happen and I am not a waste of time. It includes income/expenses for my SFR I own, personal expenses/savings, net worth, account balances, blank lease with all my addendums, and example deal analysis. I figure they will take me a bit more serious and feel more confident dealing with me with this "proof" of knowledge and financial means. Ill keep you posted on how my next meeting goes with my "proof" packet.
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Account Closed
Investor · Portsmouth, NH · Member since 2016 · 75 posts · 33 votes
8y
I dress the way my clients do. If it’s contractors I’m in my work clothes. Tenants? Usually a simple blue jean and polo sort of look. My lender? I put on my dark gray or navy suit. If it’s an older lender I go with the paisley tie specifically.
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Mike Nelson
Investor · Oak Park, IL · Member since 2014 · 307 posts · 150 votes
8y
When I show apartments to prospective tenants I like to dress business casual - dress pants, nice shirt, leather shoes - not too formal and not in old jeans and sneakers. With bankers, good casual clothes or maybe a suit. When I happen to be at my building my tenants usually see me in jeans.
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John Lawrence
Las Vegas, NV · Member since 2018 · 1 post · 0 votes
8y
I think it matters & I love the way I look & feel when I'm dressed nice lol
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Donald Crockett
Flipper · Avon Lake, OH · Member since 2014 · 39 posts · 9 votes
8y
Applying for a job has a lot of parallels to applying for bank financing, on both sides of the table. Would you hire someone who came to an interview looking like they didn't take even a little time to prepare, like the job just wasn't important to them?
There is the opinion that the banker is in a sense subservient to you and you owe him or her nothing in terms of mutual respect. That's an extreme characterization of that opinion of course but consider that you are not necessarily looking for a one time loan but you are seeking life long business relationships and networks. Such relationships are built on shared goals and common expectations. Parties engage in and maintain such relationships because they are win-win, beneficial to both. If you present yourself in a manner that makes it look like you have no respect or consideration for the other party (and yourself for that matter)...well it's not helpful. That banker in the little corner office in your home town branch may be on a career path that parallels your growing real estate business and the relationship may turn out to be a valuable asset far into the future.
On the other hand I think if people know what you do for a living and know that you “work with your hands” as they say, and you appear in a suit and tie and it's not a wedding or a funeral, they're going to think you are overdoing it. Now of course many people are wrong when they make assumptions about your job and what it takes to do it well and the person that you are but that's just something we have to live with. As the Davy Crockett character said in the movie, people expect things.
As has been said, usually someone who does not ever wear a suit looks really “wrong” when they do. A suit must fit properly and not look excessively “cheap” of course and the tie must be of proper quality and style...all of that...but just as importantly a man must wear his suit as if he's comfortable in it, not looking like he's out of his element. It's subtle, it's hard to explain but it's obvious when you see it. You gotta be in your element. You can and must stretch and grow, but you don't want to over reach.
I feel a person should give some thought but not to too much to their appearance. They should be clean, neat, well fitted, not worn out and try to dress as is expected the majority of others will. If you don't know, ask...”How do people dress for these events?” But ask several people...don't trust any one person. Don't ask me how I learned that!
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McKell Richmond
Kennesaw, GA · Member since 2017 · 3 posts · 1 vote
8y
I would like to think that something like this would never matter, that we'd all be treated well regardless. But I do not believe that is the case. Also, I would say that if you think it would give YOU more confidence then dress up!
Best of luck!
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Jason Chen
Tampa, FL · Member since 2017 · 240 posts · 153 votes
8y
Id prefer to wear $1.50 Walmart t shirts that you can buy in packs of 3, and have some paint and tiny holes in them, and show up to wherever in a new Rolls Royce Wraith
There is no better way to dress for success than to have a Mr. Krab keychain as well that you flash occasionally
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Megan McGinty
Cleveland, OH · Member since 2018 · 50 posts · 16 votes
8y
Originally posted by @DJ Watson:

My dad always tells me, “When you look good, you feel good. When you feel good, you do good.”
So, it’s better to overdress then underdress.
But what if you feel good only when your dressed in sweats?
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Daniel DietzPro Member
Rental Property Investor · Reedsburg, WI · Member since 2011 · 1k+ posts · 857 votes
8y
Lots of good feedback with valid points on all sides. I agree completely that being PREPARED is the most important overall though.
I have been meeting with potential Private Investors/Partners (they bring the money, I bring the deal and PM) with a WIDE variety of 'styles and wealth'..... meaning plumbers, engineers, retired farmers and entrepreneurs with networth in the 8 digit range.
I go by what there style is and it works well. In other-words, tailor it to the situation. I know almost all of them on at least some form or personal level too - church, customers of my day job, friend of a friend etc....
As a side note, I have never met my bankers (two of them, one Portfolio Loans and one Non-Recourse Loans) face to face. Only phone/email/texting. But they did both say that my presentations using the BiggerPockets Rental Calculator were some of the best they have seen :-) :-) :-)
Dan Dietz
[email protected]608-524-4899
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Craig CurelopBusiness Member
Real Estate Agent · Post Falls, ID · Member since 2016 · 1k+ posts · 1k+ votes
8y
@Jeremiah Dye - I would look at it like this. Could it possibly hurt to go in dressed up? If you show up in a tuxedo... you may get weird looks. If you go in with your refrigeration technician uniform, they may not think you meet the qualifications (even if they are wrong).
I'd say wear a business casual outfit. Slacks and a button down. Show that you are professional and naturally they will pre-judge you as if you are a more credible person to lend to .
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Ian WalshBusiness Member
Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
8y
I hate dressing up more than anyone and 99% of the time it doesn't impact my day to day. The days I do dress up are the days I have to ask if I should dress up. If I am asking myself that question, it means there is a chance it matters and I shouldn't risk it.
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Glenn R.
Cornelius, NC · Member since 2016 · 104 posts · 51 votes
8y
I dress better when I "need" their help. When they "need" my business I tend to dress more casual.
I see it as a "who has the upper hand" situation.
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Tarik Turner
Lender · Hackensack, NJ · Member since 2016 · 1k+ posts · 372 votes
8y
My 2 cents - Be authentically you at every possible turn in life. Clothing makes an impression for sure but nothing equates to the impression that your own authenticity leaves on others (BTW ..as to the original purpose of this post it really doesn't matter at a bank)
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Warren Currier
Developer · Union Point, MA · Member since 2015 · 62 posts · 31 votes
8y
Originally posted by @Tanya F.:

To me, much more important than the clothes people choose to wear is proper spelling and grammar. I don't make impressions on professionalism based on what someone is wearing, but I DO judge people's professionalism based on what they present in writing. Was the document proofread? Are apostrophes used correctly? Misuse of there their they're. Where, wear, were, we're. I've gotten mailers advertising RE listings from neighbors who happen to be RE agents, that are full of glaring errors. Because I know them and want them to succeed, I've corrected the leaflets and sent them back. If I'd get a similar document from someone I don't know, I'll not use their services. Yes, I'm nerdy, but I'm certainly not alone in this. Caring enough to proofread means attention to detail. Wear what you want, I say. But proofread what you write.
<not necessarily relevant for asking for a loan, but certainly in doing most (if not all) other business transactions>
He wrote:
"I was just thinking before I go to a new small bank and inquire about financing and opening new accounts...." therefore, one can understand your comments about writing properly, and improperly. Look around at this post: The guy does not really care. If he ever did go into a bank for a serious meeting he probably dressed like a high-school kid going to the prom (same as what he's wearing in the photo he posted). But really, we've all over-reacted as all this guy said was that he wants to go into a bank to, 'inquire about financing' and, 'inquire about opening new accounts'... and that usually means going in and grabbing an application and some literature, perhaps asking some basic questions. That's way different than going in to meet with a loan officer or an underwriter. He does not display any ability to understand how to address people properly HERE in BP, so, I'm betting such a lack of appreciation and inattention to detail, will fail out there too.
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