Keys to funding your apartment deals

[Carlos Liriano]

Hello fellow Big Pocketers,

With all the different funding sources to purchase commercial apartment buildings, what might be the best approach to receiving banks or private money?

Thanks a million,
Carlos

[Jonathan Casillas]

Carlos Liriano some of the things that come to mind are:

1. Personal Financial Statement
2. 2 Years Tax Returns
3. Rent Roll if any
4. Purchase Agreement
5. Proof of Funds (if any I Highly recommend this and I would say 99% its a requirement investors/banks want to see that you are willing to put "Skin in the game")
6. A Business Plane
7. A 3 year projection of the business.

In my experience the deal itself and the re-pore you build with them holds more weight when talking to a privet money lender then it dose when talking to a bank (granted this again is on a case by case basses). This could be because for the most part private money people are investors as well while banks are a numbers business. Hope this helps.