Looking for a portfolio lender in Fort Myers

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Looking for a portfolio lender in Fort Myers

Roman Skylar
Investor · Weston, FL · Member since 2016 · 4 posts · 1 vote

I am a real estate investor of single family homes and am looking for a portfolio lender in Fort Myers area that will offer me good rates (under 6%) with an LTV of 80%. I have great credit, a strong income and a good track record with a DCR well above 1.2, yet can't find a good lender to meet my criteria. If you are a real estate investor in Fort Myers, can you recommend a portfolio lender to me? Any suggestions would be greatly appreciated.

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  • Brian Garrett
    Real Estate Investor · Palm Beach County, FL · Member since 2017 · 3k+ posts · 2k+ votes
    8y

    Out of curiosity why are you looking for a portfolio lender?

    You invest in SFH's, have great credit and strong income.

    You are a prime candidate for conventional Fannie/Freddie loans.

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  • Melvin ListBusiness Member
    Lender · Tampa, FL · Member since 2016 · 1k+ posts · 381 votes
    8y

    @Roman Skylar I would have the same question.  What is it about the deal that you need a portfolio lender?

    C2 Financial
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  • Kevin Dong
    Flipper · Fort Myers, FL · Member since 2017 · 182 posts · 98 votes
    8y

    I am the local investor in Fort myers area. I have no luck at all to find a profolio lender to do even 70% LTV with fixed rate.

    @Melvin List @Brian Garrett . convention loan has some limit on amount of house and most of them don't do the cash out refi on the properties under LLC.

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  • Roman Skylar
    OP
    Investor · Weston, FL · Member since 2016 · 4 posts · 1 vote
    8y

    Thanks for the info. I need a portfolio lender because I have maxed out on conventional loans. I have over 10. Once you get past ten, you are no longer able to do conventional loans. 

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  • Luke Rainone
    Specialist · Vero Beach, FL · Member since 2017 · 44 posts · 12 votes
    8y

    @Roman Skylar Hey Buddy, you should talk to Sanibel Captiva Bank. They will perform portfolio loans and allow you to keep it within the Entity's name as long as you personally guarantee it. @Kevin Dong I believe Bank of the Ozarks does as well, but not entirely sure.

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