Updated almost 9 years ago on . Most recent reply
Do any of the big banks lend across multiple states?
I'm going to start purchasing multifamilies and smaller apartment buildings in different states in the midwest, and I'm hoping to have to only work with one lender.
Has anyone had any success here working with one of the bigger banks (e.g. Wells Fargo, Bank of America, etc) to get multiple loans for rentals across different states?
These properties will be a mixture of residential and commercial, and will most likely extend over 10 mortgages too.
I really don't want to have to find multiple portfolio lenders in each state, but if that's the only way, I guess it will have to do.
(If it helps, I live in Los Angeles and have 7 rentals currently. Also, my financials look good, so qualifying for the loans shouldn't be an issue.)
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There is a fellow on here who I know many on BP have used @Jerry Padilla. If he can't help I'm sure he can point you in the right direction. I also just reached out to him about loans in the midwest!