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How to prepare myself getting a million buck loan?

How to prepare myself getting a million buck loan?

Allow me to preface this by saying the one thing: I do not need to get a million buck loan at this time, but i wish to get yourself a million dollar loan enough time that is next housing market corrects it self.

Having said that, i have determined that after the housing industry decreases, I would like to spend a million bucks in to a commercial estate property that is real.

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

Several things i want some insight on: need for credit history, exactly exactly exactly what experience we’ll require, sort of loan providers i will approach, down-payment i ought to have prepared, things I am able to do in order to appear less high-risk to banking institutions, etc.

Chris Mason (Moderator)

I would ike to preface this by saying a very important factor: I do not would like to get a million buck loan at this time, but i wish 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 falls, i do want to spend a million bucks right into a commercial property.

I’m sure that at this time, it is impossible any bank would loan me personally a million bucks, exactly what are of this items that I am able to now do right to boost my capacity for financial obligation?

Several things i want some insight on: need for credit history, just just exactly what experience we’ll require, sort of loan providers i will approach, down-payment i ought to have prepared, things i could do in order to appear less high-risk to banks, etc.