Lenders in Southwest Missouri
As my wife and I get ready to implement buying more rental properties we are looking for anyone who has experience with Lenders in our area that we can seek out. We have been talking to lenders, but we are hoping someone on Bigger pockets might be able to narrow the field a little more for us.
What we are doing is basically the BRRRR strategy, but we are concerned that we won't be able to find a lender that will finance deals like this when the loans are under $50K. Which in our area there are a lot of opportunities like this in SFH market to buy, put some money into and turn around and rent at a decent cashflow margin, to decent renters. We currently own three such homes, but used a cheap funding source for those three that is not available anymore. We have the money to finance the purchases with cash, but we do not want to leave our money in after purchase and rehab. We want to use it for the next one and so on and so on. I know local banks are more flexible than the big boys, but we are looking for specific banks that others have used.
So we are struggling a little with the lender side of the equation and would like to hear from any one who has experience in our area regarding implementing the Brrrr method and who they worked with on financing.
Thank you in advance for any input and direction.