Updated almost 7 years ago on . Most recent reply
Non-Recourse Lenders in Tennessee
Good evening BP! I currently own a rental in Eastern Tennessee that I purchased via my SDIRA. I am looking to apply the BRRRR strategy on this property and I am in need of a non recourse lender that can assist with this. Anyone have any good referrals for lenders that you have used before or that come highly recommended that lend in Tennessee?
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There are only a handful of lenders that do non-recourse loans for 1-4 unit residential properties. The two national players are First Western Federal Savings and North American Savings Bank. Both are quality teams. Terms are pretty conservative, but it is certainly a means to apply the benefits of leverage in your IRA, pull the equity from a property, and start expanding your portfolio.