Re: Banks offer - Posted by Ed Garcia
Posted by Ed Garcia on July 20, 2002 at 12:51:16:
Just remember one thing, you can do anything that you’re big enough to do.
Everything is NEGOTIABLE. However, after saying that, you have to be able to negotiate intelligently.
For example if you were to take a deal to a bank that was full retail market and ask them to finance at 100% and it has a break even debt service or cash flow. You would have a ruff time.
On the other hand, if you bought a deal lets say at 70% LTV and asked them to finance it for a 100% of the purchase price, and could demonstrate a nice positive cash flow, now you have a deal that really makes sense.
So financing is not carved in stone. The important thing to do is learn the language. Try to understand the difference between a portfolio lender and various other lenders.