Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
prestenting offer to potential HML
Hello everybody, my question today is how to go about asking a potential HML for a loan. I am in NJ and have a few listings that have excellent potential. my plan would be to ask for the amount I would need for a down payment and after 6months to a year refinance on the home. At that point I would be able to pay back my HML and still have money for a down payment on another property.
Anyway, I would be going to my boss, we have a great relationship and im sure if I presented him with the right info he would commit.
I know for a fact he's lended other guys I work with at least 20k+.
My question is what should I have with me to show him that this could be a good opportunity for us both? What kind of info on the property or properties should be presented. Please any advise would be great.