Loans for Out of State Investors

[Ryan Mullin]

Hello BP!   

Quick question:

Can anyone recommend a lender who will lend on out of state buy and hold properties?  

Specifically, these are Indianapolis properties, some of which are under 40k.   Any ideas would be very helpful.  We have a few lenders but "out of state"  can be an issue and the nature of such a small loan has also lead to some dead ends.  

Thanks BP!  

[Dawn Anastasi]

When I have done research for buy and hold lenders in the past (those with private funds, not banks), everyone wanted 12% interest.  So this is what you might be looking at.  I found peer-to-peer lending to actually be cheaper than private money.  And, most private lenders wanted their money back within a year, and the P2P route allows for 3 or 5 year terms.