Commercial Lenders - what qualities do you look for?

Multi-Family and Apartment Investing
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Commercial Lenders - what qualities do you look for?

Heeyeon Chung
Member since 2021 · 42 posts · 21 votes

Hi everyone,

My husband and I are hoping to purchase a MFH apartment complex in Ohio before the end of this year.

I want to know if you have any recommendations for commercial lenders and WHY you recommend them.

As I am still a newbie investor, I am starting to understand critical qualities of a lender.

We've recently experienced that a promising lender was too good to be true.

Thank you so much! Have a great day!

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  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    3y
    Quote from @Heeyeon Chung:

    Hi everyone,

    My husband and I are hoping to purchase a MFH apartment complex in Ohio before the end of this year.

    I want to know if you have any recommendations for commercial lenders and WHY you recommend them.

    As I am still a newbie investor, I am starting to understand critical qualities of a lender.

    We've recently experienced that a promising lender was too good to be true.

    Thank you so much! Have a great day!

    I can send you some referrals. You might have some issues if you are new to the market though
    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    0Reply
  • Stephanie P.Pro Member
    Washington, DC Mortgage Lender/Broker · Member since 2016 · 4k+ posts · 2k+ votes
    3y
    Quote from @Heeyeon Chung:

    Hi everyone,

    My husband and I are hoping to purchase a MFH apartment complex in Ohio before the end of this year.

    I want to know if you have any recommendations for commercial lenders and WHY you recommend them.

    As I am still a newbie investor, I am starting to understand critical qualities of a lender.

    We've recently experienced that a promising lender was too good to be true.

    Thank you so much! Have a great day!


     What were the issues you had with your "too good to be true" lender?

    0Reply
  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    I look for a good communicator and someone who is blatantly honest. I have had lenders tell me what I want to hear until closing day because they knew I wouldn't back out. Guess what, I did. 

    0Reply
  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    3y

    I have some great referrals for commercial lenders that you can take a look at? Is this your first investment? 

    [email protected]614-802-5698
    ReafCo | Ahmed Group 539 Reviews
    WebsiteView Page
    0Reply
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