Best way to finance out of state properties?

Best way to finance out of state properties?

Member since 2018 · 8 posts · 2 votes

Hell everyone,

II’m looking into buying my first rental property out of state either Missouri or Tennessee. 
it’ll be a small multi-family and I’m wondering what is the best product or way to finance the property?

What do you all recommend?

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Member since 2022 · 137 posts · 115 votes
4y

A DCSR through a broker who can lend in those states. If you have experience it wont be an issue. 

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  • Member since 2022 · 137 posts · 115 votes
    4y

    A DCSR through a broker who can lend in those states. If you have experience it wont be an issue. 

  • Lender · Farmington, CT · Member since 2015 · 542 posts · 321 votes
    4y

    @Jonathan Castro find a DSCR/hard money/bridge lender that can cross over state lines. i bought properties on the east coast when i was living in texas. i was actually asking this same question a few years ago!

  • Member since 2018 · 8 posts · 2 votes
    4y
    Quote from @Ryan Deasy:

    @Jonathan Castro find a DSCR/hard money/bridge lender that can cross over state lines. i bought properties on the east coast when i was living in texas. i was actually asking this same question a few years ago!


     Thank you Ryan!
    Do you have any recommendations for lenders you have worked with?

  • Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    4y

    Draw a 5 mile circle from your property, your lender should be in there

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