Loan request package

[Martin Zawarski]

The properties I buy typically take me about six-eight weeks to update and I spend about 20-30,000 per home. I pay cash for the home, fix it up and then rent it out.

I prepare my bank loan request two weeks before the tenant moves in and this gives me adequate time for the appraisal. In my loans request package I include.

Introduction letter- state pertinent information of property, loan, and information in package submitted.

The agreement of sale

My detailed breakdown of costs, with total money out

County record of property

Long CMA and short CMA. With details on comps

Cash flow analysis

The lease with credit check of tenant.

In total the request is about 50-60 pages that I put in a binder with tabs.

I am not sure if they read all the pages but it is what I believe a complete package..

In all situations, I got the loan for six that I wanted and only one property didn't appraise at what I expected. But we are talking $5,000, I can live with that.

I show my banker the home when I buy it and he sees it the week before tenant moves in so he knows what I did to the property . If there are any items that you think should be added I would appreciate the feedback.

[Martin Zawarski]

range has been 75-136. Average 105. 9 properties since 1/1/13 1 twin 8 detached singles. 5 capes, 2 ranch, 1 two story, 1 two story twin