Austin, TX · Member since 2013 · 103 posts · 19 votes
I am looking to go to Detroit in a few weeks to buy 10-12 single family rental houses--and looking for an investor-friendly bank/credit union up there.
I'm actually looking for 15-30 year terms - not hard money loans.
Robert,
It's unlikely you'll find any portfolio lenders in the area if you've already tapped out your 4 property limit. Your best bet will be to buy cash, if possible, and then get a blanket commercial loan across the portfolio.
Not true. Flagstar does up to 10. I need one that does above 10 though
I'm actually looking for 15-30 year terms - not hard money loans.
Robert,
It's unlikely you'll find any portfolio lenders in the area if you've already tapped out your 4 property limit. Your best bet will be to buy cash, if possible, and then get a blanket commercial loan across the portfolio.
I'm actually looking for 15-30 year terms - not hard money loans.
Robert,
It's unlikely you'll find any portfolio lenders in the area if you've already tapped out your 4 property limit. Your best bet will be to buy cash, if possible, and then get a blanket commercial loan across the portfolio.
Not true. Flagstar does up to 10. I need one that does above 10 though
Thanks @George P. . I will look into Flagstar...though I have decided to stay clear of Detroit. Living in Austin, Texas, I think I can continue to get solid returns in Central Texas and in Houston without having to hop on a plane to view my portfolio.