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Updated about 11 years ago,
What kind of reserves do banks want property owner to have?
Assuming one has 3 properties, each worth @ 1 million each, with a mortgage of 400k each. 1 building is fairly new, and 2 are older buildings. What kind of cash reserves would a typical bank want you to keep? Especially if you want to get a line of credit, borrow more money, etc?
Thanks