Hey everyone! I'm planning on purchasing my first rental in IN within the next 12 months. The purchase will be all cash and the properties I'm aiming for will be 50k or less. So what I'm looking for are investor friendly banks/institutions that are A.) Willing to do cash out refi's so I can pull the cash back out of the property, B.) Offer 30yr fixed on properties under 50k, and C.) have little to no seasoning periods. Those are the three MUSTS that I am looking for. A few other helpful things would be: No appraisal needed and 80% LTV offered. So if anyone has a recommendation on a bank they use or one that may fit some/most of those standards, please let me know. I will be reaching out and making sure I am pre-approved before making my purchase as a quick cash out refi is imperative for my strategy. Thanks!
@Robert Ferrell Hi, why don't you use 50k to finance and purchase a single or duplex in Olivehurst/Linda/Maryville. I know a lot a lot of people moving from Sacramento. CAP rate is 8-10%.