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Updated over 3 years ago on . Most recent reply

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37
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Alexander M Dant
  • Investor
  • Middle Tennesse
54
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37
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Where can I go besides the bank to get similar loan terms??

Alexander M Dant
  • Investor
  • Middle Tennesse
Posted

Hey Bigger Pockets family,

I'm currently under contract for a property and even though I'm using a commercial loan it has still been a huge hassle dealing with the banks and traditional lenders. From the time it takes to get pre approved, to the other hoops you have to jump through I'm looking for another way in the future. 

Taking away Creative Financing and traditional Hard Money Lender, what else have you guys used or heard about that has similar terms to bank financing but is easier to work with and less red tape?? 

Feel free to drop recommendations too if you're in the Nashville, Clarksville, and Middle Tennessee area.

Thanks in advance!

Most Popular Reply

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1,894
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Scott Wolf
  • Lender
  • Boca Raton, FL
924
Votes |
1,894
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Scott Wolf
  • Lender
  • Boca Raton, FL
Replied

@Alexander M Dant, without listing your specific terms, it's difficult to offer suggestions that have similar terms.

I will say on rate, for a commercial property you probably won't beat a bank loan. Ease of process may be a DSCR or Asset Based loan, but it's tougher to find those guys in the commercial lending space.

  • Scott Wolf
  • Loading replies...