Lender that will take a second position on investment property

[Paul Larsen]

I’m trying to find a lender that will take a second position on a two unit investment property. I have plenty of equity but can’t tap into it. Every lender I have contacted will not take a second position on an investment property. Can anyone recommend one that will?

[Charles Carillo]

@Paul Larsen

I would suggest speaking to local banks, and credit unions. Whenever I am having an issue with financing, I normally reach out to local institutions. They are much more reasonable and are more intertwined in a community than some lender states away. The credit committee is usually made up of local people who are familiar with the market they are in. Lastly, they like building relationships. Once you find a lender that finances properties similar to yours, start building a relationship.