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Updated over 7 years ago on . Most recent reply

User Stats

127
Posts
23
Votes
Trevor S Foster
  • Gaithersburg, MD
23
Votes |
127
Posts

What questions should I be asking Banks/Credit Unions?

Trevor S Foster
  • Gaithersburg, MD
Posted

Hello BP,

I have compiled a list of 25-30 small banks/credit unions in my area to call & discuss what types of deals or what there criteria is for lending. 

My goal in the post is to make a list of important questions to ask when interviewing banks. 

What in your opinion are some things I should ask when speaking with each bank?

Should I wait until I set up a face to face meeting to go over these questions? 

The one thing I dont want to do is call or get a meeting & not have the right list of questions that I can ask to get the information I need about their bank. 

This is my next step in my process, I recently did a direct mail campaign & while I go through the wait process to hear back from a owner, I thought it would be a good time to focus on developing relationships with the small banks in my area.

I appreciate any and all advice to come. 

Thanks

FYI: Hal Elrod Show 157 & Tom Krol Show 176 have been a great motivation for me.

FYI #2: Although I've listened to 80-100 since June, I have decided to restart back at show one. I found myself jumping around to different podcast & came to the conclusion that I have learned a great deal from each & every podcast so why not just start from the beginning. I think it'll be easier to take notes on each podcast & person that The Josh & Brandon interview.

Conclusion: A new goal I have is to listen to each podcast, write down the person being interviewed, what they have found success with & what I learned from that show. I am going to create a categorized drop box "Wholesale, BRRRRR, Fix/Flip, Buy & Hold, Commercial" etc. I listen to 3-5 podcast while at work, once I come home I will put all notes in their proper category, as well as each investor into the category they most fit in. I think that every person interviewed has dropped Gems & most have given a ton of info out. Its hard to remember everything after listening to about 4 or 5 podcast every day.

-Sorry this last part had nothing to do with the actual post. I just started typing & it was hard to stop, so many things I want to share lol

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