Tips or script for seeking portfolio lending

[Daniel Elbe]

Greetings!

I have a few properties I'm looking to refinance (one in particular that I recently purchased cash) out in Indianapolis. My partner and I are active duty military and invested from out of state.  I have a long list of banks I plan to call, but want to make sure I don't put my foot in my mouth, and I ask the right questions/have the right information available. Can anyone recommend some tips for what information to have ready for the bank call and what questions/terminology I should be using?  Has anyone used a script for this type of call before?

Thanks,

Dan

[Daniel Sprague]

It is basic, but make sure you have a detailed personal financial statement filled out.

When i brought my PFS to my portfolio lender's first meeting, they were impressed i was prepared with it.  My credit score backed it up, and they havent said no to a deal since.

As long as you have good financials personally, you have the first part of the puzzle solved.  The next is bringing them a property that works.

I dont know many banks that wont lend to someone with a good PFS, good credit score, and a good property.

Good Luck.