Happy Valley, OR · Member since 2015 · 21 posts · 15 votes
9y
I'm evaluating the potential for selling a SFR property we have or perhaps splitting the lot and selling just the lot. I will either be exchanging out of about $425k or $150k depending on how I choose to move forward. For the sake of discussion, let's assume I will have about $175k to put toward my next deal.
Jeff
Investor · Camas, WA · Member since 2015 · 82 posts · 56 votes
9y
@Andrew Syrios - What's your opinion on using US Bank commecial lending?
I have another operational business in OR and have my business account with US Bank for that. I happened to meet VP of commercial lending at the branch a couple of months ago and she said they can do multi-family financing or a loan for multiple single familly/duplex etc. as long as each property is cash-flowing with DSCR of 1.25. She also mentioned that these are 5 yr/25yr amort loans but can be made 7 or 10 yrs depending on the relationship with the client and experience and other things.
I currently have only single family rentals in KCMO area (individual FNMA loans) but I will be acquiring more properties which would be either single family/townhouses or small apt buildings and wanted to get a feedback on using US Bank as a lender to consolidate all my loans there
@Andrew Syrios - What's your opinion on using US Bank commecial lending?
I have another operational business in OR and have my business account with US Bank for that. I happened to meet VP of commercial lending at the branch a couple of months ago and she said they can do multi-family financing or a loan for multiple single familly/duplex etc. as long as each property is cash-flowing with DSCR of 1.25. She also mentioned that these are 5 yr/25yr amort loans but can be made 7 or 10 yrs depending on the relationship with the client and experience and other things.
I currently have only single family rentals in KCMO area (individual FNMA loans) but I will be acquiring more properties which would be either single family/townhouses or small apt buildings and wanted to get a feedback on using US Bank as a lender to consolidate all my loans there
Thanks in advance
If you can get a loan from them, go for it. Large banks will usually have the best rates, but they are very hard to get investment loans from. They're just too conservative. We did get a cash flow manager line of credit from US Bank, but that's because we bank with them and a lot of money goes in and out of that account. Other than home loans or really big properties, such banks are tough.
SFR Investor · Grain Valley, MO · Member since 2009 · 2 posts · 0 votes
9y
Where is the property located? If it's on the Missouri side, I have done approximately 30 rental real estate transactions with a small bank named Adams Dairy Bank in Blue Springs. They are actively seeking new deposit and loan business. Contact Duston Weisenborn to discuss.