SoFi and other Personal Loans to Fund Rental Properties
Hi Fellow BPers,
I am currently on the hunt for alternative funds of financing to help scale my rental property portfolio in Cleveland.I used Chemical Bank for traditional financing on a 3 bed 1 bath ranch that is producing great numbers for and want to continue buying properties like that in a consistent matter without having to wait until i replenish my funds. I have looked into Freeland Ventures but due to underwriting process and logistics just isn't the right fit at the moment, and now currently looking into SoFi due to the fact that their cap on the personal loan is higher, no origination fee, and the rates are decent for the hard money industry. Does anyone have any recent experiences using SoFi specifically to purchase rental properties (with the idea of eventually refinancing out of it ) or any other lenders that you think would be worth looking into?