First meeting with a lender

[Jason Krick]

Hey everyone,

I'm just starting out and getting my ducks in a row, so to speak, I hope to line up a RE agent, lender, and insurance broker to use primarily as my "team" that I go to. I have my first meeting with a lender on Wednesday. It is a portfolio lender that I was referred to by my RE agent. Initially, I thought I would just have an informal discussion about my plans to rehab distressed properties and either sell them, or rent them. At first, I would probably use HML for the acquisition, and then refi if it were to be a rental. After a general overview, I would ask if they were interested and had any products that would suit my needs.

The more I think about it, I'm wondering if I should submit a business plan that outlines the LLC, the members of the LLC, goals, strategies, etc. At the end I would attach a few spreadsheets of real properties with estimated rehab costs, holding costs, etc. That way he knows exactly how I will be doing my DD when analyzing a property. I would give it to him printed professionally in a binder.

Thoughts?  Am I overthinking it at this stage, as I was initially going to see if he'd at all be interested in this?

Thanks!

--Jason