Portfolio lending under 50k
2 Replies
Michael J Scanlon
Realtor from Chicago, IL
posted 11 months ago
Is anyone else having trouble finding portfolio lending to an LLC during Covid?
I have a tremendous deal (beats the 1% rule at about 3.1%), the neighborhood is c class, not d, the place isn’t run down (needs some minor repairs) and is currently rented.
Yet, I’ve had multiple calls today and everyone so far has pointed out issues with the fed rates causing a lot of issues with lenders doing specific types of lending, specifically pertaining to my current needs.
Has anyone else had this issue and what are some of your solutions?
Chris Seveney
Investor from Northern Virginia
replied 10 months ago
If non owner occupied go with a private lender. Your interest rate will be a lot higher but if its that good of a deal some $ is better than no $
Joe S.
Investor from San Antonio
replied 24 days ago
Originally posted by @Michael J Scanlon :Is anyone else having trouble finding portfolio lending to an LLC during Covid?
I have a tremendous deal (beats the 1% rule at about 3.1%), the neighborhood is c class, not d, the place isn’t run down (needs some minor repairs) and is currently rented.
Yet, I’ve had multiple calls today and everyone so far has pointed out issues with the fed rates causing a lot of issues with lenders doing specific types of lending, specifically pertaining to my current needs.
Has anyone else had this issue and what are some of your solutions?
Did you ever have success finding a lender?