Hello new investor here.

[Simon Lopez]

Just wanted to say hi and introduce myself. I live and work in San Francisco. I do not own a home. If i wasn't living in our family trust home I wouldn't have any money for investing. My friend ask me if I knew about Roofstock. I thought he was talking about some sort of new public traded stock. Few days later I'm here. I'm so glad I found bigger pockets. Always wanted to buy rental property but didn't know where to start. I've learned so much from this site this past week. Everyone seems helpful and the knowledge is abundant. My first question is: Before applying for a loan should I have a large balance in my bank accounts. If yes how many weeks should I load up my accounts before applying? Thanks -Simon

[Vincent Pace]

@Simon Lopez welcome to bigger pockets! To answer your question, it depends. Every institution or company has different lending terms and it also depends on the size of the loan you are trying to get. For example, where I work we typically do 1:3 ratio where your assets+cash less the debt times three is what we are willing to loan you, but like I said before every institution is different so I would suggest calling them just to get your foot in the door and better understand how the lending process works. Best of luck!