Lenders in Kansas City
Hi.
We have 3 duplexes in the Kansas City area that we bought recently in cash. We would like to refinance it and need a lender who would do commercial loan to an LLC for investors who live out of town. I'd appreciate any recommendations.
I'd like to take this opportunity and warn investors from doing business with "Great American Bank". It is a local bank based in KS/MO. We applied for a loan with them after the banker gave us a lot of confidence they would lend us money under the above terms. They ran a credit report (which is perfect for all partners) and had us pay for the appraisal (that came back above purchase price). Eventually their bank committee rejected our loan because we're from out of town (which they knew in the first place). Even if you do live in the area, I'd stay away from this bank because of their very unprofessional behavior.