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Updated over 5 years ago on . Most recent reply

Charles Ladner's profile image
Charles Ladner's profile image
Charles Ladner
  • Rental Property Investor
  • from Grand Rapids, MN
  • Member since May 10, 2019
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Charles Ladner's profile image
Charles Ladner's profile image
Charles Ladner
  • Rental Property Investor
  • from Grand Rapids, MN
  • Member since May 10, 2019
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Charles Ladner
  • Rental Property Investor
  • Grand Rapids, MN
0
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General Real Estate Investing

Do I need a business plan

Charles Ladner
  • Rental Property Investor
  • Grand Rapids, MN
Posted

Question for anyone that has answers.  I talked with my local bank about buying a 12 Plex and she said that they require a business plan.  Is this common with most lenders with a building this size or is this just this bank?  Thank you

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Joe Villeneuve's profile image
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Joe Villeneuve
  • #4 All Forums Contributor
  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve's profile image
Joe Villeneuve's profile image
Joe Villeneuve
  • #4 All Forums Contributor
  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

Who cares if the bank makes you have one.  You should have one regardless.  Without one, how will you be able to measure your success?  How will you know what your "next" move(s) need to be?..and why?  How will you make decisions...any type of decision?

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