Join Vince with his guest Jill Rodriguez, the Vice President of Private Banking and Commercial Services at Frankenmuth Credit Union, as she talks about everything you need to know as a real estate investor when lending. For Jill, if there's one thing that borrowers need to understand, that is it's critical to treat your lender as your future business partner. They're not the only ones who should get to know you; you should also be prepared on how you can get to know them better. In this episode, Jill simplifies the concept behind credit unions and commercial banks. She also talks about how risk factors form from union to union, the purpose of credit scores, the layout of the whole lending process, what lenders consider red flags, and so much more. There's a lot to unpack, so stay tuned and enjoy the episode!

Outline of the episode: 

●    [01:47] What is private banking?

●   [05:21] How different are credit unions from commercial banks?

●   [10:40] Everyone has their own risk factors unique to them

●   [15:21] Vince Gethings – on turning to lenders and community banks

●   [20:18] Who pays attention to your credit scores?

●   [26:26] This is why you should have a network of partners and mentors

●   [30:08] Commercial building rentals before and after 2020

●   [33:45] The red flags that lenders watch out for

●   [39:16] Jill Rodriguez – on the overview of the lending process

●   [44:20] Jill's biggest piece of advice to anyone applying for a loan

Resources:

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●  Read The Essays of Warren Buffett: Lessons for Corporate America, Book by Warren Buffett

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