GETTING YOUR BANKER TO YES!
Conceal a flaw and the world will imagine the worst.
Your banker or mortgage broker is one of the top members of your real estate success team. The relationship you create with them must be based on trust and the mutual understanding that you’ll meet each other’s goals. Your bank makes money by saying yes to your deals and your job is to give the mortgage broker very clear reasons as to why you should be provided with financing.
Meeting with their banker was going to be the most critical meeting that Richard, Emma and I were going to have, and to make sure they had everything they needed, I invited another expert along. His name is Alan Jacques.
Alan is a long-time educator, financial trainer and investor. His expertise lies in taking a complex subject and boiling it down to “critical success events.” Together, Alan and I have interviewed bank managers, loans officers and vice-presidents. In addition, we’ve worked side by side with other financial experts, MBAs and successful investors with one goal in mind: to develop a powerful yet simple system that compels the bank to say yes to investment real estate deals.
In this chapter and the next, I will use the terms “bank” and “banker.” This is for convenience only. I want you to think of these terms in their broadest sense. With the word “bank,” I mean any institution or organization ...