Out of town financing
Looking for some help for lenders, banks at this time. Looking for out of town lending. Hitting a lot of road blocks living in CA and investing in other states
Local banks are hit and miss but nervous about of of town investors and larger regional banks are too big for some of the smaller 2-10 units.
Looking for some experience advise
Thanks all info
Hi Mick
I live in Columbus, OH, and have started investing out of state as well (in Florida metros).
I ran into the same problems, but eventually made progress when I started speaking with portfolio lenders in the areas in which I wanted to invest. Making cold calls to community banks will get you started, but eventually they'll almost certainly want to meet you in person, so it would be prudent to start making plans for a trip or two. Best of luck.
If you find a property manager in the area you are looking that has out of state clients they could be good sources of lender leads as well.
