Suggestions For Putting Together A Property Summary
I'm looking at purchasing a portfolio of properties (around 45 units) and this will be the first time I've had to put together a package for the lender. Any special suggestions or tips to help me garner the loan? I currently have one property (a 3 fam) but this deal landed in my lap and it's too good to pass up.
Thanks in advance,
Shawn
The most important part will be a cheat sheet of one to two pages detailing the financials of all of them. After that will be the 1-3 page executive summary.
After those two you will need to impress them with your research of the properties. Each property, if possible, should have a copy of the last environmental, last known appraisal info, rental sheet showing history of tenant. Data sheet of tenant (the application data will do with last known credit score). etc etc
That coupled with a good business summary with graphs and charts will get you the loan.
Remember its all in the presentation. Make sure you break it down into a 5 minute read, followed by a 30 minute read, followed by data to answer any possible question they have. This way when they call you can refer to a page number and show them that you already have that particular question answered.
Good Luck,
Kyle