Lately I’ve gotten some questions on how I arrange money at the bank. Well, let me explain it to you!
00:00 As a real estate investor, I just go to the bank, talk to the financial advisor, and I know I have arranged my money for my next property.
00:49 1. Why the bank would want to loan money to you
If the bank knows how I take care of real estate deals, they see money as well. Since, they just give me money, and in return they get an interest rate payment of about 3% per year.
The bank doesn’t have to do anything for that, they get 3% of whatever they’ve giving to me, each year.
And because of this reason, the bank would love to loan money.
02:32 2. How I get money from the bank
I always present my business plan to the bank.
I give a short presentation on what property I’ve found, and why I need money from the bank, and how this deal will generate me good money each month.
So the bank can also judge that I won’t just throw away their money.
Let me just go through a few pointers that I always include in my business plan.
1. Who am I? What do I do in my daily life?
2. What property have I gotten?
3. What do I do with the money?
04:32 3. How I get the best deal
In my presentation, I will always include the story of the bank as well. The biggest magic happens, if you compare the banks to each other, and let them fight over you.
Give them the opportunity to win you as a customer.
But, one of the conditions is the amount of interest rate they give you.