Rental Property Investor · Investor from Gilbert, AZ · Member since 2018 · 37 posts · 22 votes
Out of State investor looking at a 8 plex. Unique deal with an 8 plex and house onsite. Needing to connect with portfolio and/or commercial lenders that will help out of state inventors in the Columbia, South Carolina area.
Rental Property Investor · Columbia, SC · Member since 2019 · 38 posts · 27 votes
6y
@Christopher Leet I'll message you some local lenders I've spoken with who work on smaller to mid MFR here, however if you're comparing products from other states, the biggest difference you'll notice is the main norm around here is only about 70% LTV and 20 or 25 year am. Still looking myself for options at 75% LTV and 30 year am due in 3 through 10 for qualified investors if you or anyone else comes across a contact, always appreciate a connection!
Rental Property Investor · Columbia, SC · Member since 2019 · 38 posts · 27 votes
6y
@Christopher Leet I'll message you some local lenders I've spoken with who work on smaller to mid MFR here, however if you're comparing products from other states, the biggest difference you'll notice is the main norm around here is only about 70% LTV and 20 or 25 year am. Still looking myself for options at 75% LTV and 30 year am due in 3 through 10 for qualified investors if you or anyone else comes across a contact, always appreciate a connection!
Rental Property Investor · Columbia, SC · Member since 2010 · 1k+ posts · 2k+ votes
6y
@Christopher Leet I have some contacts that may help depending on where the property is located (most do not like 29203). Do you already own property in Columbia?
Hi, am considering investing in a commercial property in Columbia, specifically a retail neighborhood shopping center. Just curious what your thoughts are on this market these days? It has a higher percentage of renters than homeowners. Perhaps that could be due to the military presence and college students?
Do you have any recommendations for the following:
*Commercial Lenders/Brokers
*Commercial PMs
Any other parties you think would be worth talking with?
Rental Property Investor · Columbia, SC · Member since 2010 · 1k+ posts · 2k+ votes
3y
@Gilda VanderHeyden I've got loans w/ 12-13 banks in Columbia, but I think most (if not all) are sensitive to where the borrower lives. They don't love lending to ppl outside of their footprint, which is mostly in South Carolina.
DM some more info on you/the property (DSCR / occupancy/ LTV specifically) and I'll try and point you in the right direction.
@Gilda VanderHeyden I've got loans w/ 12-13 banks in Columbia, but I think most (if not all) are sensitive to where the borrower lives. They don't love lending to ppl outside of their footprint, which is mostly in South Carolina.
DM some more info on you/the property (DSCR / occupancy/ LTV specifically) and I'll try and point you in the right direction.