How do I approach a hard money lender or a small town bank

[Shelia Stokes]

What do I say to a small town bank on hard money lender? What is the best approach: a letter, phone call, OR applying online, especially when you need to be creative?

[Saban Becirovic]

Shelia,

I would say your best approach would be to schedule an in-person meeting, if at all possible. Make sure you come prepared - try to have some type of portfolio that you can share with them so they can understand your investment history and why they should lend you money. It's okay if you haven't done many deals, show them any successes you may have had. If you haven't done any deals yet, have something analyzed and on paper that you can share with them so they can look at numbers and explain to them exactly how you will get that done.

If you can not meet in person, your next best option would be a video or phone call. The small town banks and hard/private lenders can get creative if they like somebody and want to do business with them. Hence, try your best to build a relationship and make the lender want to work with you. Once you finish the call, follow up with an e-mail and send them any documentation that would help them make a decision!

Finally, if one lender is not interested, do not give up or get discouraged. There are plenty of lenders out there and they can all make different things happen.

Good luck!