Writing a bio for a commercial loan application
Hello BP,
I am in the process of applying for our first commercial loan. We have done numerous residential loans since we started investing about 2-3 years ago. The loan is for a multifamily residential property. One lender has asked us for a "borrower resume/biography" my initial draft seems a bit sloppy and I am wondering if anyone on here can point me in the right direction so that I can view a well written borrower resume/biography.
Thanks in advance
Most Popular Reply
@Armando Payano @Andrew Johnson
Speak to your real estate experience – single-family rentals and multifamily properties owned and operated, past and present. Discuss each property and the number of units at each property that you have owned and operated – even if as a third-party. Mention properties sold as well. Discuss how you improved those properties – what did you pay for them? How much more did you invest? How did you improve rents, operations, and NOI? What are values today? You want to demonstrate a hands-on knowledge of real estate operations. Elaborate on all of you real estate experience as you would on a resume. One page maximum. This is a great way to have new lenders get to know you quickly.