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

Episode 129 of the Jake & Gino: Real Estate Investing & Multifamily podcast, hosted by Jake and Gino, titled "RCRE - Building Banking Relationships" was published on September 2, 2020 and runs 16 minutes.

September 2, 2020 ·16m · Jake & Gino: Real Estate Investing & Multifamily

Summary

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

Episode Description