Investor · Santa Barbara, CA · Member since 2014 · 33 posts · 7 votes
I am looking for a banker for purchasing Michigan SFR's that are renovated and rented out. Does anyone have a good one you could refer to me? The properties are in the Suburbs outside of Detroit. God buy and hold locations with strong cash flow.
@Charles MooreThanks for the mention. Greatly appreciate it.
@Alan SiebenalerA lot of factors go into getting a loan. The purchase price, # of other conventional loans you have, your income, rental income, FICO, how you will hold the property title, etc. Make sure you work with a mortgage banker that work with both Fannie and Freddie, and has access to many funding options. The last thing you want is to build a relationship and find out its only good for one type of loan.
Very timely topic for me. I'm currently going through a refi of my primary residence. Once this and my taxes are complete, I plan to grow my portfolio. I currently have 9 rentals in the suburbs with only one having a mortgage. So I'm hoping to have multiple finance options; conventional, portfolio, etc.