Speaking with Bankers

Bankers are another group that you will be adding to your team. Use them to your advantage and also be responsible and easy to work with from your side.

Remember they make money by providing loans so they want to work with you. Tell them what your criteria are and ask is this something they lend on?

• Ask what kind of loan products do they offer?
• Do they have bridge products, Fannie and Freddie products, etc.?
• What documents will they want to see when we find a property?
• How early will they be willing to come into the process?
• What are the typical turnaround times on loans?
• Do they offer non-recourse loans?
• Will, they role repairs/CAPEX into their loans?
• Do they have interest-only products?
• What is the seasoning period for refinancing?
• Is there a prepayment penalty?
• What occupancy levels are needed for their loan products?
• How large and how small of deals will they fund?