Building your "bank book"

[Patrick Howell]

I've heard several people speak about the importance of maintaining a bank book, which from my understanding, is just snap shot of your overall financial position and investment goals. I guess you could say it's a hybrid between a business plan and your company's financials...

IMO, I think this is especially important when your first starting off or soliciting yourself to new lenders or business partners. I would like to hear what everyone else thinks about this? Or even better yet, what makes up YOUR bank book?

I like to keep the following:

1. A mission statement
2. My professional team summary (CPA, realtor etc.)
3. Financials (personal and business)
4. Most current credit report
5. 3 years of tax returns

[Laura Alamery]

Yes, it is definitely important to keep an updated real estate business plan/loan package.
With the items mentioned above, I include specific itmes for the property in question, for which I am applying to get a loan.

These include:

Cover Letter
A. Photographs
B. Memorandum (Executive Summary)
C. The Borrower (Description of you and your company)
D. The Collateral (The Property in question)
E. The Underwriting (Financial soundness of your plan)
F. Recommendation (Summary)