The Power of Showing Up

A very smart commercial real estate lender recently taught me this trick.  If you are competing to make an attractive commercial real estate loan, get yourself out to the property.  You should fly out to meet the sponsor and inspect the property, even if you have to pay for the site visit yourself.  My buddy calls this the Power of Showing Up.

By showing up, you demonstrate your serious interest in making the loan.  If you pay for the air fare yourself, which might only be a few hundred dollars, you demonstrate that you are not some con artist out to steal from the borrower some large advance fee.  Finally you narrow the competition from the twelve lenders and brokers with whom the borrower is negotiating to just the two of you who actually show up to inspect the property.

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