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[David Goings]

Hello all,

My current strategy has been cash only on my deals but I have began exploring the possibility of leveraging. 

I recently sat down with a commercial loan officer from a relatively small bank. He seemed eager to tailor loans to form a relationship. Eager to the point where i'm a bit suspicious.  

I advised him that my upfront issue at underwriting would be the lack of W2 income. I am a full time house flipper, excellent FICO, healthy liquidity and healthy assets.   

He advised that a relationship needed to be formed initially in order to get around my W2 issue. On the first deal we would have to do a "dollar for dollar" loan. Ie, I would put down 100K for a low interest only 100K loan. 

So after this first deal I would have on paper experience with the bank which would then open the possibility to do less and less money down on future projects.  

 Am I missing his angle here? It makes sense to earn my reputation with them, I was just a bit put off by how eager he was.  

Thank you all in advance, 

- Dave