Advice for buy and hold in Atlanta

[Paolo Ruggieri]

all

I just had a great find... Want to share with other atlanta investors... I found the perfect portfolio loan... I was maxed out regular mortgages due to the number of properties/mortgages I have... Can't do Freddie Mac Fannie Mae anymore

Here is what I found: 5.5% - 7 years balloon- 15 years amortization... Cash out refinance

Best of all:

-Only $500 closing cost per property (included appraisal, recording everything... Bank did the closing, not an attorney )

- 3 days for underwriting approval (subject to appraisal)

- bank pays upfront for a desktop appraisal... You do not have to pay a dime till you close

Only caveat... They loan up to 250k ... If you need more you need to go with guys like B2R

It took me months to find a bank with these terms... So I want to save time for the community 

If you have too many properties for traditional mortgage, and are looking for very low closing cost mortgage for 250k or less, this product is great 

Banker told me that for people that need only 50k or less process is even simpler

I have no incentive to share, I just want to help the community... Bank is BB&T, banker i worked with is Bradley (678)631 3545... He gave me permission to post his contact