Just Saying

Be fair.

Understand that bankers are businesspeople just like you. They have to make a profit too. Their job is to get the best return for their bank, while yours is to get the best deal for you. While you may be able to shave an extra quarter of a point off the interest rate occasionally, deals that benefit only one party don't build good relationships. Whatever you do, don't ask banks to bid against each other for the business. If you are going to shop more than one bank, negotiate your best deal on its own merit with each bank and don't make your banker feel like price is the only thing important to you. It's far more important that you focus on structuring loans to fit the cash flow of the properties than to simply focus on getting the best rate. Remember, in real estate, terms are just as important, if not more important, than price.

-Mike Summey and Roger Dawson

The Weekend Millionaire's Secrets to Investing in Real Estate

Just saying (italics mine).