RCRE - Building Banking Relationships
Will Coleman and Mike Taravella discuss why it's important to build banking relationships. Key Information: Bankers are not interested in short term relationships, they want to build long term relationships that span the course of at least 10-15 years. Banks want to pursue relationships in which a person or business will be making regular deposits into their bank accounts. Lending amounts are limited by the amount of money deposited into a bank's accounts. For every one dollar deposited into an account, a bank is able to lend out ten. Communicate to your banker how much money you plan on depositing into your accounts in order to build a better relationship. Discuss with your lender what kind of experience you have even if it is not real estate related. Having a highly technical job will communicate to your lender you are a competent and trustworthy borrower. Expert Pro Tip: “Start building banking relationships early” Contact Information: [email protected] [email protected] To register to invest with us: https://invest.randpartnersllc.com/invexp/accounts/login/ Rand CRE's Facebook: https://www.facebook.com/randcre Rand CRE's Linkedin: https://www.linkedin.com/company/randcre Rand CRE's Instagram: https://www.instagram.com/randcre
Jake & Gino: Real Estate Investing & Multifamily · Jake and Gino
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Show Notes
Will Coleman and Mike Taravella discuss why it's important to build banking relationships.
Key Information:
- Bankers are not interested in short term relationships, they want to build long term relationships that span the course of at least 10-15 years.
- Banks want to pursue relationships in which a person or business will be making regular deposits into their bank accounts.
- Lending amounts are limited by the amount of money deposited into a bank's accounts. For every one dollar deposited into an account, a bank is able to lend out ten.
- Communicate to your banker how much money you plan on depositing into your accounts in order to build a better relationship.
- Discuss with your lender what kind of experience you have even if it is not real estate related. Having a highly technical job will communicate to your lender you are a competent and trustworthy borrower.
Expert Pro Tip: “Start building banking relationships early”
Contact Information:
To register to invest with us:
https://invest.randpartnersllc.com/invexp/accounts/login/
Rand CRE's Facebook: https://www.facebook.com/randcre
Rand CRE's Linkedin: https://www.linkedin.com/company/randcre
Rand CRE's Instagram: https://www.instagram.com/randcre
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About Jake & Gino: Jake & Gino are multifamily investors, operators, and owners who have created a vertically integrated real estate company. They control over $350M in assets under management. Connect with Jake & Gino here --> https://jakeandgino.com.
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