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RCRE - Building Banking Relationships

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:

miket@randcre.com

will@randcre.com

 

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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