{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Local Banking and How it Relates to Real Estate with Tyler Knott | Part 2","description":"In a previous episode, Tyler Knott enlightened us on what\u2019s happening in our local banking and how it relates to real estate. Today, Tyler is back to share his banking career journey. Tyler\u2019s family has owned the bank for 120 years, and they envision having it for over 110 years to come. Tyler began his career in banking as a teller, and he worked his way up.  If you are wondering how Tyler got to be the chairman and CEO of Bank 21, this episode is for you. Tyler shares his journey and some of the mistakes he has made along the way. Also, if you are worried about what the future holds for us economically, you must listen to Tyler\u2019s prediction.  Listen and learn. Key Talking Points of the Episode: 01:22 How Tyler grew up in banking 03:14 Positions that Tyler has had at Bank 21 05:16 Banking as a business 06:29 The symbiotic relationship between deposits and loan customers 09:09 What makes a good loan? 11:08 Why is real estate such a great piece of collateral 11:41 Debt coverage ratio 15:09 The different lending buckets that Bank 21 has 16:34 How Bank 21 pivoted through 2008 20:17 How Tyler\u2019s law degree helps him as the CEO and chairman of Bank 21  22:17 Tyler\u2019s goal for Bank 21 for the next five years 25:21 Impacts of the high-interest rates on the economy 26:39 Is there a drop in lending requests due to the high interest rates? 28:58 Do we have a recession coming? 30:33 Why Tyler loves single-family asset class 33:21 Qualities of SDP borrowers 36:34 Mistakes Tyler has done in real estate 38:42 Three people Tyler would golf with Quotes: \u201cThe best way that I can move this bank forward is to be in it and building the right systems to deliver excellence.\u201d \u201cYou only have so much time in a day and so if you\u2019re having to hands on train every single person on every single aspect then you\u2019re going to stay very small.\u201d \u201cIf there aren\u2019t houses to buy, there\u2019s got to be houses to rent.\u201d \u201cYou can have a great lender and someone that you trust, and you\u2019re assuming that inspections are getting done, but never assume, you know, build those systems in place.\u201d Connect with Knott Tyler: LinkedIn: https:\/\/www.linkedin.com\/in\/tyler-knott-9532435\/  ","author_name":"Mistake FREE Real Estate With Marck de Lautour","author_url":"http:\/\/sbdhousing.libsyn.com\/website","html":"