Rental Property Investor · Laguna Niguel, CA · Member since 2018 · 36 posts · 37 votes
Hello, Does anyone have any local credit union recommendations? Preferably banks that have real estate investor friendly loan products? I am an out of state investor with an established in state LLC and two short term rentals in the Fayetteville area. I am looking to purchase a few more and am trying to explore all avenues. Thanks in advance!
I'm not even sure if they would let you join if you are out of state. My view of credit union is more of a local / community thing. I love working with them, they typically have some type of investment loans for new investors but they prefer to keep it simple. Eg. they might be fine doing 1 or maybe 2 properties for you, but once you have a portfolio or multiple investments, then I have been told, it's usually too complex for them to handle that. You might be better of looking for a commercial lender.
@Jiri B. Completely understand the challenges of not being local and I have been taking to commercial and more national brokers. I am just trying to explore all options available to me by putting in some due diligence.