1. Describe the asset and the decision
- Where is the property, and what is its current condition and use?
- Are you purchasing, refinancing, renovating or building?
- What is already under contract, and what is still being negotiated?
- Which date matters next, and what must be resolved before then?
2. Separate facts from assumptions
Create two columns in your project notes: confirmed information and estimates to verify. Keep contractor quotes, purchase terms and current leases distinct from projected resale values, future rents and hoped-for completion dates.
Record where each estimate came from and the date you last checked it. This makes it easier to explain changes and prevents an old assumption from quietly becoming a project fact.
3. Map uses of cash across the project
- What costs occur at acquisition or closing?
- What work must happen before the property can be sold or rented?
- What costs continue while the property is held?
- What contingency have you considered for a change in scope or schedule?
- Which funding mechanics do you need the lending team to explain?
4. Test the exit conversation
Describe your intended exit and a plausible alternative. If the plan depends on a refinance, ask what would need to be true at that stage; if it depends on a sale, identify the assumptions behind pricing and timing.
Bring the summary to the lending conversation and ask for the next information required for your specific project. Wait for the team's secure document process before sharing sensitive financial or identity records.