ATL REI friendly banks

[Tracie Cabler]

Hi BP Community!

I have an LLC and am interested in commercial real estate intown. But, I'm not quite ready to start investing in any one particular property yet. I've wondered if building up business credit and a relationship with a banker, before I need a commercial loan, would be helpful. What do you all think?

Does anyone know any REI friendly banks for small businesses? I've read some good things about Citizens Trust Bank, but don't have any experience with them. I've heard smaller banks may be more likely to lend to a small business. Is this true? Any advice would be greatly appreciated!

Thanks

- Tracie 

[Jeff Garzik]

When you hear "small business loan" that is normally for office equipment, inventory, things other than real estate.

I understand the motivation - I once thought as you do - but that's the reality of real estate lending. You'll usually need some sort of guarantor that will not declare bankruptcy the minute something goes wrong; too easy to do that in an LLC.

Once you have a track record, private money folks will lend to you, and on larger properties (large MF) commercial real estate banking looks almost exclusively at the property.

Spend some time researching the financing options.  Having the money is what unlocks real estate...  so you must become an expert on finding the money.  Know which loans you can and cannot qualify for.  Understand short term (bridge/hard money) versus long term loans.