Many times in my career I have a closed a commercial real estate loan with the very same bank that had previously turned it down. In fact, this happens all of the time.
We start from the basic reality that all commercial real estate loans have at least one black hair. There is no such thing as a perfect commercial real estate loan.
Now whenever you call a banker, you’re supposed to ask him the following key question first: “Bob, I have a commercial loan I’d like to run by you. Did I catch you at a good time? If not, I can easily call you back later.”
Let’s suppose you’re a dummy and you failed to ask Bob of ABC Bank that crucial question. The banker was in fact extremely busy. He was in no mood to listen to your description of a new commercial loan. Irritated, he listened very impatiently until he heard about the very first black hair on your deal (remember, all commercial real estate loans have black hairs). Then he immediately turned your commercial loan down.
Okay, now what? Do you give up on ABC Bank? Absolutely not! Simply call a different commercial loan officer at ABC Bank, ideally one in a different branch. And this time, don’t be a dummy. Ask him first if this is a good time to discuss a commercial loan.
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