I have couple properties in Charleston which I have financed by conforming loans. I am looking to find a local bank/lender that can provide a commercial loan on my future purchases. Any and all recommendations would be greatly appreciated.
I have done good at South Atlantic bank.. although to my knowledge I am there only out of area borrower..
Most of these banks will only lend to you if you live there or at least have a second home there.
it took me 3 years and many turn downs to get to them. but now we are on project 7 or 8 in the last 18 months and I find our personal banker there to be very helpful and of course the essance of a Southern Gentlemen.
I have used existing properties to finance deals through Southern First Bank here in Charleston. Kevin Lee is who I've worked with there. Let him know I sent you!
@Mike Ball try Neil Oliver at First Reliance
@Mike Ball where do you live? Its been my experience that many commercial/portfolio lenders like to see someone with a presence in the state in which they do business.
I've got several portfolio lenders in Columbia that will do loans in Charleston assuming the borrower has ties to South Carolina. Only one of them does not require an in state borrower.
Thanks everyone for the suggestions!
@Will Gaston I live in CA and do not have any ties in SC except for my portfolio.
@Mike Ball What kind of properties are they? Single Family? Commercial?
@Will Gaston most SFR and one duplex.
@Mike Ball Send me a PM and I can give you a Credit Union guy in Columbia that may do it.