Will Coleman and Mike Taravella discuss why it’s important to build banking relationships.
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”
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