Suggestions for lenders operating in Chicago land area

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Suggestions for lenders operating in Chicago land area

Raymond Adeboyejo
Chicago, IL · Member since 2015 · 3 posts · 4 votes

Any suggestions in finding reliable investor friendly lenders that operate in Chicago land area that specialize in buy and hold or build to rent /flip

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Devin PetersonBusiness Member
Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
2y
Quote from @Raymond Adeboyejo:

Any suggestions in finding reliable investor friendly lenders that operate in Chicago land area that specialize in buy and hold or build to rent /flip

I recommend using the find a lender tab or connecting with an investment focused broker who can help you find multiple options out there.
[email protected]860-538-3672
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  • Ko KashiwagiPro Member
    Lender · Los Angeles, CA · Member since 2022 · 967 posts · 445 votes
    2y

    Happy to connect!

    310-848-9776
    1Reply
  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
    2y
    Quote from @Raymond Adeboyejo:

    Any suggestions in finding reliable investor friendly lenders that operate in Chicago land area that specialize in buy and hold or build to rent /flip

    I recommend using the find a lender tab or connecting with an investment focused broker who can help you find multiple options out there.
    [email protected]860-538-3672
    ProAlpha Capital56 Reviews
    WebsiteView Page
    2Reply
  • Derek BrickleyBusiness Member
    Lender · Ann Arbor, MI · Member since 2021 · 676 posts · 229 votes
    2y

    Hey Raymond!

    If you are looking at possible long term rentals, then could possibly help.  If you have details or specific feel free to reach out!

    [email protected]734-645-7722
    Gold Star Mortgage Financial Group548 Reviews
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    0Reply
  • Raymond Adeboyejo
    OP
    Chicago, IL · Member since 2015 · 3 posts · 4 votes
    2y

    I'm looking at purchasing undervalued Multi-unit properties, rehabbing them and then finding long terms tenants.

    0Reply
  • Raymond Adeboyejo
    OP
    Chicago, IL · Member since 2015 · 3 posts · 4 votes
    2y

    I have ideal are of City of Chicago I want to focus in but need to know what options.  I have and how much down I would need based upon those options. I already own a few investment properties and have some experience with single family and Condo unit rentals. But now is the time to scale up. 

    0Reply
  • John Warren
    Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    2y

    @Raymond Adeboyejo if you are doing buy and hold, you should connect with a lender who does conventional financing as your main lending partner. I would talk to @Joshua Jones. He has been an incredible lending partner for me. 

    If you are looking to flip, I would connect with Renovo. I can PM you my guy there as I don't think he is on BP. 

    1Reply
  • Joshua JonesPro Member
    Member since 2020 · 70 posts · 32 votes
    2y

    @John Warren thank you. @Raymond Adeboyejo I can assist for conventional investment property financing if need be. Feel free to private message me. 

    0Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    2y

    Hey @Raymond Adeboyejo - What type of lending are you looking for?  Hard money?  Conventional?  Difference will be downpayment and interest.

    Either way connect with @Landon Hoon, @Michael Facchini, or @Zack Karp - All local to Chicago and great people.

    If you need some local hard money lenders I can send you some of this as well...just let me know.

    [email protected]
    Quality Builders4.966 Reviews
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    0Reply
  • Landon Hoon
    Lender · Chicago, IL · Member since 2018 · 34 posts · 52 votes
    2y

    @Jonathan Klemm thanks for the tag.

    @Raymond Adeboyejo would love to help out! I work mainly with house hackers and investors local to the Chicagoland area. 

    1Reply
  • Ryan Davies
    Investor · Salt Lake City, UT · Member since 2019 · 339 posts · 126 votes
    2y

    Happy to help depending on the type of loan. We do DSCR, Commercial, and Hard Money

    • Rates: 9% to 13% (Most Deals are 11-12%)
    • Terms: up to 36 Months (Most Deals are 6-12 months)
    • Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
    • Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)
    • Max Loan: 65%-70% of After Repair Value(ARV)
    • 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
    • Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)
    • NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
    0Reply
  • Chris Poklacki
    Specialist · IL · Member since 2023 · 17 posts · 0 votes
    2y

    Hi Raymond, I would like to connect. 

    0Reply
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