how to get a lender to fund your real estate deal (7 step process)
TRANSCRIPT
The 7 Steps Needed to Get Lenders to Fund Your
Real Estate Deals
with Brandon Turner, Co-host of the BiggerPockets Podcast!
What We’ll Be Talking About Today
• Why the bank says "NO" • 7 Steps to hearing a “YES” • The 6 “C’s” of a Perfect Loan Proposal • BiggerPockets tools that can help • Bonus • Question and Answer
About BiggerPockets
“The Real Estate Investing Social Network, Marketplace, and Information Hub”
About Brandon Turner (ME!)
About Brandon Turner (ME!)
• Cohost of BiggerPockets Podcast • Real Estate Investor (50+ units) • Author (BiggerPockets.com/store) • Worked as a personal banker in a
major bank (one of the largest.)
How many deals would you buy if money was not an
issue?
Why does the bank say
“NO?”
You Haven’t Cracked The
Banker’s Code.
The “not so secret” secret:
The “not so secret” secret:
Bankers WANT to Lend Money!
The 7 Steps Needed to Get Lenders to
Fund Your Real Estate Deals
#1 Do you have a
deal?
Cash Flow?
Cash Flow?
Loan to Value?
#2 Is this a
property they will lend on?
Property Type
Property Type
Property Location
Property Type
Property Location
Property Condition
Property Type
Property Location
Property Condition
Loan Amount
#3 Are you a solid
Bet?
Income / Repayment source
Income / Repayment source
Debt to Income
Income / Repayment source
Debt to Income
Experience
Income / Repayment source
Debt to Income
Experience
Credit Score
Income / Repayment source
Debt to Income
Experience
Credit Score
Recent Credit Changes
#4 Will the Bank
Feel Secure?
Do you have Cash Reserves?
Do you have Cash Reserves?
Collateral?
#5 How
Professional Are You?
How do you talk?
How do you talk?
How do you look?
How do you talk?
How do you look?
How do you communicate?
#6 Is your Loan
Proposal Professional?
The 6 “C’s” of Loan of the Perfect Loan Presentation
The 6 “C’s” of Loan of the Perfect Loan Presentation
Confidence
The 6 “C’s” of Loan of the Perfect Loan Presentation
Confidence Clarity
The 6 “C’s” of Loan of the Perfect Loan Presentation
Confidence Clarity Concise
The 6 “C’s” of Loan of the Perfect Loan Presentation
Confidence Clarity Concise Convenience
The 6 “C’s” of Loan of the Perfect Loan Presentation
Confidence Clarity Concise Convenience Creativity
The 6 “C’s” of Loan of the Perfect Loan Presentation
Confidence Clarity Concise Convenience Creativity Complete
The BiggerPockets Property Analysis Calculators
#7 If At First You
Don’t Succeed…
Try Another Bank
Try Another Bank
Try a Portfolio Lender
Try Another Bank
Try a Portfolio Lender
Ask for Referrals
Try Another Bank
Try a Portfolio Lender
Ask for Referrals
Seller Financing
Try Another Bank
Try a Portfolio Lender
Ask for Referrals
Seller Financing
Partners
The 7 Steps Needed to Get Lenders to Fund Your
Real Estate Deals
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