Power Team Question Series # 5: Bankers

Power Team Question Series # 5: Bankers

As you build your Power Team you may want to have several questions that you ask each potential member.

There is not an exact script to interview your Banker, but here are several questions you can consider asking your Banker:

1. What types of mortgage/loan products do you have for investors

2. Do you have a seasoning requirement? If so, how long is that requirement?

3. What percentage amount will you loan based on loan to value?

4. Will you base loans on the appraised after repaired value rather than the purchase price plus repairs?

5. What is the total loan aggregate amount you will loan to each investor?

6. How quickly can you above a mortgage, refinance, etc?

7. Are you authorized to approve mortgages or does it go in front of a board or banking committee?

8. Do you retain your mortgages as in-house portfolio mortgages or sell them on the secondary market?

9. What are the current terms, conditions and rates for the various mortgages you offer to investors?

10. If I do business today, would the approval process be faster because you have a majority of the boilerplate paperwork already as we present other potential property transactions?

11. Are there any penalties for early payoff?

12. What are the application fees and loan processing fees?

13. Can I get an email and secondary number (either cell phone number or office phone) to contact you with further questions?

Remember every day you need to say and repeat...THIS IS MY BUSINESS! Keep working on ways to make your business better each and every day.

Carpe Diem! Smiling - Stacey

Each day do one thing to get you closer to your dreams because if you do today what others are not willing to do, then tomorrow you can do those things that others are only dreaming about doing!

Believe and Achieve! Smiling - Joe

Link to the Power Team Question Series:
http://www.deangraziosi.com/real-estate-forums/property-rehab-fixer-uppe...

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Thank you very much!

Joe and Stacey,

Information like this is invaluable to someone like myself as I am working on building my power team right now. Unfortunately, I tend to doubt myself more often than I should and it slows me down- no bueno!! Shared info like this is an energy booster that I can use to move forward and MAKE IT HAPPEN!

Thanks for sharing and keep it coming! Smiling

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Denise

~ "We must set intentions for who we are, for what roles we wish to serve, for how we'll relate with the world." ~Brendon Burchard


Yes, these are great

but it looks like I missed a day. Can we find these in one place? Thanks so much!

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www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.


Denise,

Thanks for the nice comments, we appreciate it. We are so happy to share what we learn along the way. We will definetly be sharing even more power team questions. Good luck on all your future deals. Believe and Achieve! Smiling - Joe

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Tammy,

Thanks for stopping by. Yes, all these questions are posted under the forum: Property Rehab: Fixer-Upper and Construction Talk

The link is as follows: http://www.deangraziosi.com/forum/49

Glad you enjoy the series. Believe and Achieve! Smiling - Joe

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YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
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TWITTER - Follow me on Twitter at Joe Jurek CPA
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https://twitter.com/JoeJurekCPA


alright joe

where's the other four? lol

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whether you think you can or you think you can't, you're right.- Henry Ford
keep moving forward, rob


Hey Rob,

Here they are Smiling

Power Team Question Series # 1: CPA - Certified Public Accountant
http://www.deangraziosi.com/real-estate-forums/property-rehab-fixer-uppe...

Power Team Question Series # 2: Property Managers
http://www.deangraziosi.com/real-estate-forums/property-rehab-fixer-uppe...

Power Team Question Series # 3: Realtors
http://www.deangraziosi.com/real-estate-forums/property-rehab-fixer-uppe...

Power Team Question Series # 4: Attorneys
http://www.deangraziosi.com/real-estate-forums/property-rehab-fixer-uppe...

Believe and Achieve! Smiling - Joe

__________________

YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA

TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA


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