I am wondering what are investor friendly banks, which are great for investors? I am curious about who are the best. I want the ability to go to the bank and the staff understands the real estates arena for investors so I can get things done in a timely manner, in a the most cost effective way, in the most intelligent way as well. Open for suggestions. Thank in advance for your assistance and time.
Peace be unto you,
in my experience it has been the local smaller banks/credit unions that will be more open to listening to you. the national banks have more rigid requirements that will not conform to RE in most cases from the investor stand point. that is why Private loans are so popular. even local lenders are sometime looking for some sort of a track record and a very good deal with plenty of equity if there is no pre-existing relationship. If you are just looking to develop the relationship then i would suggest talking with other local RE investor in your area and see what local lenders they use. specifically what loan officer... if the person will allow you to name drop them, then when you speak with the lender reference them. then the lender has a better idea of what path you may follow. a great loan officer can be your ally for putting together a good package to present to under writing and to the bank itself.
In total agreement with Dustan.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!