Visiting Banks Before Our First Deal

[Joseph Morris]

So we are looking for some advice... We've identified our 'farm' and have been studying and getting to know the recent market. Our primary interest is fix-flip (with BRRRR as a VERY acceptable alternate exit strategy - our long term goal anyhow...). We've been looking at hundred of listings, and analyzing dozens of potential deals, and have are just about ready to 'take the plunge', as it were... We would like to finance our first deal (first several) using conventional financing. We would like to secure financing prior to making our first offer (similar to a 'pre-approval' for a primary residence). We plan to visit local banks and meet with the loan officers with the above goal in mind... So here are our questions: - what should we prepare / take with us to the bank? - what questions should we ask the loan officer? - suggestions on how to approach the discussion to maximize our likelihood of success? Ideally we'd like to borrow purchase and part of the rehab costs - though we know that'll be difficult to accomplish. Any thoughts are appreciated...