Sorry to have posted this twice. Other post posted before i could finish it…
I’m not a new investor, I have buying and rehabbing properties since 2004 (same year my LLC was created), I have assets and my credit score is around 700-71, but t my dilemma is this… because I have more than 4 investment properties (I have 6) I can’t find anyone willing to finance any new properties or do a rate/term refi on several, if not all of my current properties. Can anyone give me some advice on options I might have or where I can obtain the financing I’m looking for?
There are several options depending on what the values are as well as what your income/assets look like.
Need to look at local bank commercial loans along with private individuals.
Agree with InvestmentLoans- start talking to the commercial LOs at your local banks. Commercial loans aren’t subject to the same prop limits as Fannie/Freddie so thats probably your best bet for refi and/or new purchase.
Thanks to you both for the advice. Would it be possible for me to email either one of you and pick your brains as to how I should approach a bank. What things do you do to secure funding when talking to a local bank. What should i prepair before I ask for funding. Thanks again.
Sure-shoot me a PM and I’ll brain dump whatever info I have for you