Non-recourse lenders in Texas

4 Replies

Do any pros have recommendations for non-recourse lenders in Texas, specifically in the Bryan / College Station area?  I have a group of 8 homes all on the same block that I've held since 2012/13.  Great historical performance; only one season with any vacancies; yet the regional and local banks I've dealt with previously and am currently talking to are almost all still asking for a personal guarantee.  

Details:  8 homes, built in 2012/13.  Purchase price - ~ $1.4MM; Market Value ~ $2.5MM; current debt ~ $800k.   

I'd love to hear if anyone in the area has had more success with traditional lenders in this area.  It might be that Aggies are just super conservative, but is there another way without going through non-recourse brokers?  I like being able to text my bankers, and not dealing with back office people when I call.  

Any and all advice and recommendations appreciated.   

Thanks,

D

Originally posted by @Daniel Schiller :

Do any pros have recommendations for non-recourse lenders in Texas, specifically in the Bryan / College Station area?  I have a group of 8 homes all on the same block that I've held since 2012/13.  Great historical performance; only one season with any vacancies; yet the regional and local banks I've dealt with previously and am currently talking to are almost all still asking for a personal guarantee.  

Details:  8 homes, built in 2012/13.  Purchase price - ~ $1.4MM; Market Value ~ $2.5MM; current debt ~ $800k.   

I'd love to hear if anyone in the area has had more success with traditional lenders in this area.  It might be that Aggies are just super conservative, but is there another way without going through non-recourse brokers?  I like being able to text my bankers, and not dealing with back office people when I call.  

Any and all advice and recommendations appreciated.   

Thanks,

D

Daniel traditional banks in most cases will require you to carry the loan. You need a investment lender. Are you looking to refinance and cash out for further expantion? Are you looking for a portfolio loan?