Community Banks in Salem
5 Replies
Jeremy Seely
Rental Property Investor from Irvine, CA
posted over 3 years ago
Anyone recommendations for community banks in Salem? I'm looking to refinance our commercial mortgages and would like to give the local banks a shot at them if we can swing a good deal.
Liwen Gu
Real Estate Broker from Salem, OR
replied over 3 years ago
The investors at the monthly REIA meetings in Salem seem to like Pioneer Trust Bank. I've set up a savings account with them as a way to start establishing a relationship with the bank...haven't done any loans with them yet. I'm kinda on the fence when it comes to small community banks/lenders because of my past experience with them.
Yash Bajpai
from San Jose, California
replied almost 3 years ago
@Liwen Gu thank you for suggesting the Pioneed trust bank. How is the move to Salem treating you so far?
@Jeremy Seely : with the rise in interest rates, what did you decide on with your commercial mortgage? can you share your deal and the experience please?
Liwen Gu
Real Estate Broker from Salem, OR
replied almost 3 years ago
@Yash Bajpai you’re welcome. I really like it here in Salem. It’s a very family friendly place. Are you planning on moving here or just interested in investing?
Yash Bajpai
from San Jose, California
replied almost 3 years ago
@Liwen Gu Just interested in investing.
Chris Blackburn
Developer from Salem, OR
replied 9 months ago
I would look at Troy Willis with Willamette Valley Bank In Salem OR- Just google "Troy Willis with Willamette Valley Bank". Not only can that bank loan up to $7M- Willis has access to other banks where they will participate. Also he has connections to Lifeco (Insurance). He just ran a bridge construction to HUD financing that is a crazy game changer- I made one of the apartment projects that I am working on (hopefully breaking ground this year) go from a $7000 a mont profit to a $17,000 a month profit (35 year AM, with a 2.7% rate will do that!) Pioneer bank has been amazing, Maps credit union is also a solid company with a solid team- Thank you Ben and David!