Seeking Good Private Lenders for the KC Market

[Richard Okagbue]

I'm seeking recommendations for good private money lenders for investments in the Kansas City Market, please mention who you have worked with or heard of that can make this deal happen. The deal - short term refinance for two properties valued at $60K each in Kansas City which were purchased with cash due to the competitive market, but now the cash is needed back out to be used to rehab and flip the properties. So basically, need a 12 month refinance loan for both houses.

Please note that Peak Asset Lending, which proudly advertises themselves as a good local lender, is quite picky and actually is executing a form of redlining and will not fund projects in all of the city. They have some formulas they use to determine if an area is "worthy" of their money. These two houses are not even in the inner city and are located in a suburb in the South area and yet they declined to finance them. I suppose their redlining is legal because these are investment loans and not owner occupant loans. 

It seems that many lenders just cannot help with cheaper properties as they have giant minimums, Visio Lending has a loan minimum of $100K (was $75K just as recently as last year) and LendingOne has a loan minimum of $75K for each property.

I'm hoping to get a good lender that is not redlining and also recognizes that $50K still buys a heck of a house in Kansas City and in decent areas of the city too!