Investor · Tampa, FL · Member since 2010 · 377 posts · 56 votes
I've had a lot of luck with small banks or credit unions to be specific, but am looking for better terms. Looking for lender referrals who can work with 4 units and 40 units (two properties I'm dealing with right now) who will allow me to pull out an equity line after a short period of ownership (less then 6 months).
Investor · Tampa, FL · Member since 2015 · 530 posts · 92 votes
10y
Tony
Here are two to check out, if you haven't already.
GrowFinancial commercial lending does 80% of cost or 80% of appraisal, whichever is lower, for the first 12 months. After 12 months, they will do a loan increase based on 80% of appraised value.
Central Bank in Tampa seems to have a good commercial lending department.
Good luck and let us know how these stack up.
If you find one that lets you take out an equity line, please let me know.
Investor · Cocoa Beach, FL · Member since 2015 · 132 posts · 59 votes
10y
Contact me if you want the name and info for a couple guys that are on point. I also have a broker that is getting incredible rates on multi family loans. I have been very impressed...