Updated about 7 years ago on . Most recent reply
Looking for an investor friendly Lender in Hawaii
I've done some searches but haven't really found anyone appropriate. I've been working with a local bank, but the fees are high and the service is absolutely terrible. Plus my loan officer doesn't seem to know much about investing and has a very negative attitude about it - he actually seems annoyed every time I bring him another loan lol! Maybe I'm too small of a fish for him, IDK, but if so I wish he would at least pass me on to a new loan officer at his bank that's excited to take my money and will actually respond to my emails. We've given him 4 loans in 9 months and it's gotten to the point where I just can't work with him anymore (did I mention he hired an appraiser that charged me $1,000 for my last appraisal, and it wasn't some massive, complex estate 2 hours away; it was a 600 square foot condo 1 mile from his office with tons of comps in the same building! Maybe that was beyond his control - IDK, but regardless I can't keep giving my business to someone that seems annoyed to receive it) Ok, that's all of my complaints! Had to get that out!
So I'm looking for a lender in Hawaii (preferably on Maui, but I know that's a long shot) that is familiar with real estate investing, buy and hold, BRRR strategy, etc. (a huge plus is you're familiar with velocity banking and that whole strategy of using LOCs to pay off your mortgages in 7 years). I'm not doing huge deals - in fact I'm doing some of the smallest deals you can possibly do here because of the barrier to entry of price on Maui, but that shouldn't matter as my understanding is that the loan officers typically get paid a flat rate, unless they're brokers.
My current pace is closing 2-3 deals a year and I plan to stick to continue at that rate for now.
Any referrals would be greatly appreciated!
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