financing

10 Ways to Work With Banks to Get the Financing You Need

As a real estate investor, it’s important to have access to financing. Whether you’re a rehabber who needs construction financing for a fixer upper, a wholesaler who needs short-term financing for a quick flip, or a landlord who needs long-term financing for a rental property, the ability to find and work with banks is an important part of the real estate investing business.
The following are ten ways to work with banks to get the financing you need:
1. Approach the right banks
The first and most important step is to find banks who are a good fit for you. There’s no sense in trying to convince a bank who doesn’t already have an established track record in lending to real estate investors. You’ll waste too much time educating them on what you need and how you need it done. Instead, find banks who already have an established history of working with real estate investors and understand their needs.
2. Have a good presentation
If you want to be taken seriously by a bank, you need to present yourself well. Whether you’re a new real estate investor and have a deal you need financing for or you’re an experienced real estate investor and already have a track record, gather all of the information you can about yourself and your deals so the lender can get to know you. Put together a binder that includes the following information:
Personal Information
• Loan application
• Credit report
• Business plan
• Business history
• Seminars attended or courses taken
• References
Past Deals
• Property addresses
• Purchase prices
• Rehab costs
• Sales prices
• Profits
• Before and after photos
Current Deals
• Property address
• Purchase agreement
• Comparables
• Deal analysis
• Rehab estimates
• Photos
Once you have this information organized, schedule a face-to-face meeting with the banker if possible. When you meet them in person you will have better luck Common Home Seller Mistakes than if you simply spoke with them on the phone. Also, make sure to dress professionally since you’re not only selling your deals, but also yourself.
3. Have your financials in order
Bankers speak the language of numbers. So it’s important to have your financial information in order. You don’t need to present this information at your first meeting (in fact, your first meeting should focus on what the lender can do for you). However, if you eventually plan to obtain financing from a lender, you’ll need to have the following prepared:
• Personal tax returns (typically last 2 years)
• Business tax returns (typically last 2 years)
• Net worth statement
Some lenders (such as hard money lenders) place more emphasis on the deal than the credit-worthiness of the borrower when making their decision to lend money. For these lenders, you may need to simply prove that the deal is a good one.
4. Invite your bankers to your properties
Once a bank has financed one of your properties, consider inviting …

Used Construction Equipment Leasing and Financing

Today’s faltering economy has hit a number of industries below the belt and the construction industry is certainly no exception. While many companies are struggling to survive, the need for cost-effective, high quality construction equipment is at an all time high. Buying new is not an option for many companies and renting doesn’t give you an option to purchase the pieces at the end of the agreement. One of the best ways to overcome these hurdles is by leasing used construction equipment.
Why This Is a Journeyman Electrician Exam Great Option
For those that want to keep their company’s capital liquid, leasing offers a great alternative to an outright purchase. Not only are the payments likely to be much less than those from a traditional business loan, you have the option to purchase what you need at the end of the term. You’ll find the prices are much less expensive than you might think and you won’t have to worry about getting a shoddy piece of junk that only eats up money in maintenance costs.
You can also extend the terms of the agreement to suit your needs. Qualifying is also easier than you might think. You won’t have to find the last decade’s tax returns or put your business up for collateral. You simply complete an application and you will get an answer within a short period of time.
If your company does not have much in the line of capital, it can make it really difficult to get your hands on what you need to get the job done. Your company needs money to operate and especially for those unforeseen emergencies. Leasing the heavy equipment you need, such as bulldozers, cranes, dump trucks, skid loaders, or other similar pieces gives you the freedom you need to make your company grow.
In some cases, you can add in maintenance costs, so you don’t have to worry about breakdowns. You need to find a company that you can trust, though. Choose one that has been in business for awhile and check out any online Building Construction Process review sites you can find. This will help point you in the right direction. You want to ensure that you’re getting a good lease price on the equipment, as well as a company that stands behind its promise to you.
In Closing
Don’t let the high cost of new construction equipment exhaust your company’s finances. Take a few minutes and look at how affordable leasing construction equipment can be. There are many benefits, but getting the jobs done right is one of the most important.…

Investment Property Financing is Vital Before Starting Renovation Work

Having your investment property financed and ready for renovations means that you are going to have to start seeking out contractors and subcontractors to help you complete some of the work. The bigger jobs, and the structural jobs that are required to be completed on the property are often best left in the hands of certified, insured and bonded professionals to ensure that you are going to have the projects flow seamlessly, with absolutely no hangups in dealing with the codes or laws involved with these types of construction projects. You can’t just go out and hire any contractor to do the jobs for you though, as there are a lot of shady people and companies that are more than ready to just take your money, and either not provide you the work, or give you low quality work that you are going to ultimately not be pleased with. This is going to require you to either go out and hire another contractor to fix what the first person couldn’t, or you are going to be forced to attempt to sell the property in the condition that it is in.
Finding a reputable company isn’t terribly difficult, as long as you are prepared to put in the time involved in doing your research of the company, and their previous work. When you have found a company that you believe fits your standards, you are going to want to ask them for references of their work that you can speak to, as well as pictures or even video of the projects that they have completed for prior clients. By allowing you to take How To Become A Building Contractor a look at the work that they have done in the past, the company is going to give you a lot better feeling about using them for your renovations on the new property, and will often leave you wanting to call them again for any future projects. You can see why it is worth it to spend the time up front to make sure that the company you are going to be using has been around for a while, and will continue to be around for a long while to come.
You can often save money by choosing the little guy to complete your How To Become An Electrician projects for you but you have to make sure that they have a reputable history, and are carrying the proper insurance policy, as well as being bonded for the work that they complete. As long as they fit this criteria, and have completed projects in a portfolio that they can allow you to view, you are going to have a pretty safe investment if you allow them to do the work for you. The reason you can save so much money by choosing to use the little guy is because of the fact that they often don’t have the overhead that larger companies do, as well as having a few personal employees that …