Best way to present deal to bank? - Posted by db

Real Estate Investing
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Posted by Randy on March 12, 2005 at 11:51:11:

I think any thing you can do to present yourself as being professional is to your advantage.

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Best way to present deal to bank? - Posted by db

Posted by db on March 10, 2005 at 13:23:35:

Hi,

I’ve already talked to a bank that is interested in doing this deal for a MHP. They gave me rough estimates of rates and terms. My question is should I put a loan proposal on paper along with the contract or do I just take the contract to them and talk about rates and terms again? Thanks

DB

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Re: Best way to present deal to bank? - Posted by Eric C

Posted by Eric C on March 18, 2005 at 01:18:01:

Hey -

Sorry for being late to the party here, but this is a discussion we have fairly frequently.

Check out the following posts for a start.

http://www.creonline.com/commercial-real-estate/wwwboard5/messages/1996.html

http://www.creonline.com/commercial-real-estate/wwwboard5/messages/2097.html

Take care,

Eric C

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Re: Best way to present deal to bank? - Posted by Don Dion

Posted by Don Dion on March 13, 2005 at 23:13:49:

I have been a mortgage broker and worked for Savings and Loans since 1982. I can tell you from experience both inside and out. Do all the prelim work as far as your numbers before you go into the bank. Most bankers are in reverse looking for reasons to kill your deal assessing risk. If you show them up front all the strengths your much better off.