Preparing to meet with loan officers or lenders

[Brian Holt]

I am creating a portfolio to give to a few select loan officers to obtain a mortgage for a rental property.  What would you include in this portfolio?  I currently have 5 rental properties, working on my next one.  Assuming this discussion is sort of like a job interview, I want to impress them so I can get the best rates and work with the best lending team.  Any ideas or thoughts appreciated.  Right now I have a sheet for each property with all of the key information and then a summery of all 5 properties.  I include, Loan to Value, Cash on Cash.  What else would you like to see if you were a loan officer?

[Chris Mason]

Originally posted by @Brian Holt:

I am creating a portfolio to give to a few select loan officers to obtain a mortgage for a rental property.  What would you include in this portfolio?  I currently have 5 rental properties, working on my next one.  Assuming this discussion is sort of like a job interview, I want to impress them so I can get the best rates and work with the best lending team.  Any ideas or thoughts appreciated.  Right now I have a sheet for each property with all of the key information and then a summery of all 5 properties.  I include, Loan to Value, Cash on Cash.  What else would you like to see if you were a loan officer?

 Standard paperwork you know and love, and one spreadsheet that has each property in a row and the particulars (loan balance, rent, 2nd mortgage(s), etc) in the columns. Each will have their own process, roll with it.

FYI: Best lending team for a real estate investor will not necessarily have the best rate. Of the business I get from bigger pockets, a significant amount is from people that just got burned and lost their $20,000 earnest money deposit after failing to close on a house. It takes a lot of years for my $14 per month higher interest rate to add up to $20,000. None of the CFPB-required disclosures require lenders to disclose what percentage of loans they actually close, and what percent they deny 3 days before scheduled closing after all contingencies have been lifted. Talk to any real estate agent about that.