Lender for Investment properties

3 Replies

Hey,

I just signed a deal for an investment property in the Cincinnati area, and I'm looking for a lender that works with investors. I plan to pick up a few more properties this year, so I am looking to build a relationship with a reputable investment lender, and have a smooth process when I lock in deals. Any recommendations? Should I find a mortgage broker? Whats the best way to go about this? I'm fairly new to investing, this would be my third property but I plan to be a bit more aggressive with the investing in the coming year.

You can check with local banks, call them and ask to speak with their commercial lending department or commercial lending manager. You need to get through the gatekeeper and speak with someone who actually understands investment properties, probably not a home mortgage lender at the bank. Another option is a mortgage broker but again, you probably want to vet them to make sure they are familiar with commercial lending. Most only know about home lending so they probably do not have existing relationships with local banks. I was lucky to find a mortgage broker in my market who does home mortgages but also has a division of his business that specializes in commercial loans. This may be because he is an investor as well so is very mindful of what we are looking for.

Good luck!

@Stylianos Kalamaras

When I have sought financing from commercial banks, I contact all local banks and credit unions within an hour drive of the property and you will get a number of responses. Some don't lend on it and most have programs that are very similar to each other and you will also find a couple lenders that have great programs. It is well worth the few hours you spend.

I have used Zipfel Capital for almost every Cincinnati deal we have done over the last 8 years. They are a mortgage broker and Tim O’Brien is who I have worked with there.