Long-Term Lending Partners: Who’s on Your List?

Question

Do you focus on building relationships with a few reliable lenders, or do you keep your list broad? I’m curious how others approach finding lenders for consistent funding opportunities. Any tips for building a solid list?

Jason Taken · Answer

Relationship based is the way to go.

Erik Estrada · Answer

Just work with a broker. I see it time and time where a borrower tries to save on points, they go direct and end up falling out. It is very hard for the average person to understand and keep track of the nuances of lending since guidelines, rates, leverage, change very often.

What I see most common is borrowers calling thousands of lenders to see who will go the skinniest, only to end up not closing on the deal and paying the price.

It's better to work with a trusted, reliable, broker that does this day in and day out for a living than to go at it alone and take an unnecessary risk.

Derek Brickley · Answer

Finding someone who understands your niche and goals is definitely going to be valuable for long term growth.  Lots of us boring lenders on BP, but I'm sure you can build a great team haha

River Sava · Answer

Hi Karen - Building strong, reliable relationships with a few key lenders can simplify the process and build trust over time. When a lender understands your investing goals and strategy, it often leads to smoother transactions, faster approvals, and even better terms. It's definitely worth focusing on cultivating those connections!

Barry Jerome · Answer

Hi Karen. I think building strong relationships with lenders is the way to go.

Givo Aghasi · Answer

I'd recommend working with a mortgage broker as they have access to many different types of lenders with various loan programs that could be best suited for you. They'll save you time as they do the work of searching for the best lender for your situation.

Jay Hinrichs · Answer

my self I have  been with my same commerical Banker for over 30 years without him I would not have made it through 08 to 2011.. loyalty is key,

that said I have borrowed from one other commercial bank as well.

my loan facilities are not what most are doing.. they are land and development loan and vertical .. and a few commercial buildings.. MF  and so on.

I like knowing the Bank President personally and the head Credit officer makes a huge difference with new deals and or if we need a minor work out.. For Certain with DSCR lenders you are not going to know your lender personally like we do. Also cost up front are between no points and 1/2  point .  and on my construction they even pay the 7k for the mai apprasials.

rates are in the high 6s for development / construction.. High 5s for income property and coming down.. But its full service banking we have all our companies cash there.. as such we never pay for any services either cashiers checks wires  ach and you dont have to talk to some customer service person on the phone. I call my banker and if he is not there his assistant handles our needs..  The wire fee's are huge since we wire 10 to 20 times a week or more when we are doing draws.

Bryan Maddex · Answer

Erik nailed it. Find a broker who really understands investors and has access to 1000s of different programs. A good broker can always add additional lenders to their mix if you get a really one off situation. Often times, brokers get better pricing than working directly with the retail channel. Retail guys get benefits, have offices paid for, have departments they pay for that they don't use, have layers of management than earn on their production.Brokers get access to wholesale channels. You can do better with a broker than calling 30 different direct lenders usually!  Let us do the digging to find the best lending partner for your situation.  I know a guy that can lend in 45 states and has access to 220+ lenders. He is also an investor and top producer. Message me and I'll give you his cell phone  ;)

Christopher Robert Noland · Answer

This is a relationship based business from lender to client etc. So I use whomever is the most reliable with the best terms.

Long-Term Lending Partners: Who’s on Your List?

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