Is anyone using, or has used a lender that lends to an LLC and lends a percentage of the purchase price + rehab cost? After calling a ton of banks, I have a better understanding of the ones that will lend to LLC's, but only DCU claimed they also lend on the rehab cost. Definitely looking for more options.
Any referrals to lenders people have experience with would be greatly appreciated.
I'm in my early stages of my research but I read it here on BP that Webster Bank might do that. Have you called them?
Also, First Niagara, now Key Bank might be the other, but not sure how they are working now after the acquisition.
Please keep us updated.
@Zoltan Fagyal I think I may have called Webster Bank, but will have to double check. I'll be reaching out to Key Bank shortly and will keep you posted. Thanks for the referrals.
@Patrick Wheeler - very interested to hear what you find out locally.
Have you looked into RealtyShares or any of the crowd funded sites?
@Patrick Wheeler , I just remembered, I also have a contact at Bank of Canton. Not sure if he is OK with me sharing it on the internet, so I'll PM you his contact info.
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