Looking for Memphis Equity Loans

[Bill Manassero]

I am an investor from Southern California looking to purchase an apartment building in Indianapolis. Part of my financing options are quity loans on two properties I own free and clear in Memphis (an SFR and a duplex). I have talked with both large and small local banks and am getting nowhere. Does anyone have any good contacts, alternative ideas, advice, etc.?

[Curt Davis]

Bill,

Your duplex carries a current max estimated value of about $40,000. Your SFR estimated value is in the $58,000 range. Most banks I know will do a cash out refi and you would only get 75% if the home appraises for my estimated values. Are you calling lenders in Memphs?