How do I prepare myself getting a million buck loan?

How do I prepare myself getting a million buck loan?

I would ike to preface this by saying a very important factor: I do not need to get a million buck loan at this time, but i wish to get a million buck loan the time that is next housing market corrects it self.

Having said that, i have decided that whenever the housing marketplace decreases, i wish to spend a million bucks in to a commercial property.

I understand that at this time, there is no way any bank would loan me personally a million bucks, but just what are of this items that i will now do right to improve my convenience of financial obligation?

Several things i want some insight on: need for credit rating, just what experience we’ll require, style of loan providers i ought to approach, down-payment i ought to have prepared, things i could do in order to appear less dangerous to banking institutions, etc.

Chris Mason (Moderator)

I would ike to preface this by saying the one thing: I do not would like to get a million dollar loan today, but i want to get yourself a million buck loan the time that is next housing market corrects it self.

That said, i have determined that after the housing marketplace decreases, I would like to spend a million bucks right into a commercial real-estate.

I understand that at this time, it is impossible any bank would loan me personally a million dollars, exactly what are among the items that i will now do right to improve my convenience of financial obligation?

Some things i want some insight on: need for credit history, just exactly exactly what experience we’ll require, types of loan providers i ought to approach, down-payment i will have prepared, things i could do in order to appear less dangerous to banks, etc. Continue reading “How do I prepare myself getting a million buck loan?”