Most of the big private lenders don't do business in Vermont. Does anyone know a hard money lender that operates in Vermont?
@Casey Richards Welcome to BP Casey! I don't know of any HML's in VT, but if you're planning on keeping the property as a rental, check with some of the local banks in the area. I've heard good things about the National Bank of Middlebury, check if they lend in Rutland county. Also try posting on the VT REI group, it should come up if you do a search on this site.
Try Hard Money Bankers. I'm not affiliated with them, but they are friends of mine. I'm pretty sure they do.
@Casey Richards have you tried posting in the Vermont forum? Admittedly, it might not be as active as other forums but there still might be a chance there.
- Post in the Bigger Pockets STATE forum that you are looking in. There are usually some good, local investors that monitor those forums. Maybe they already have a suggestion or recommendation for you? Certainly try there.
- Visit your local REI groups. There are many groups that meet across the country. Some post here on Bigger Pockets. Many post on meetup.com. Networking is always a great practice and you never know who you might meet there and what good information they have to share. Would certainly recommend visiting if one is close to you.
@Casey Richards Just following up Casey - were you able to find any HML's for VT?
Thanks in advance,
@Tom S. Thanks for following up. I got some good advice here and I'm talking to a few people now. Thanks.
@Casey Richards, in case the people you are talking to at the moment couldn't help,reach out to me i can point you to a Nationwide direct Lender that get your deal done.Best of luck.
@Casey Richards I’m currently looking for a hard money lender in VT- did you have luck finding one? Thanks!
Hi Amber... no I didn't find anything that worked for me. 11Capital had some mild success with a company called Global Capital, but we got tripped up on their high "experience" requirement in order to make a loan. Ultimately, I went with the local credit union.
Recently I've seen stuff from FOACommerical.com that says they work in Vermont. Next time I am looking for funding I plan to look into them further.