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Updated about 7 years ago on . Most recent reply

User Stats

68
Posts
64
Votes
Michael Hutchinson
  • Lender
  • Fort Mill, SCinstal
64
Votes |
68
Posts

What should go in a good lender packet?

Michael Hutchinson
  • Lender
  • Fort Mill, SCinstal
Posted

All, I am getting ready to do my first commercial loan.  I am debating what to put into the lender packet to make sure I don't have issues when soliciting the debt.  I was thinking about putting in the following:

  • Personal financial statement
  • Prior rent rolls on the property for 3 years
  • Some type of public report on the value of the complex (zillow or other) ... not sure on this one
  • A profitability statement ... thinking about using the one on this site from https://www.biggerpockets.com/real-estate-investme... (rental property calculator)
  • Some kind of summary letter with my intent, actions and management overview

Too much?  Too little?  

Thanks in advance,

Mike

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