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.
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 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?
@Liwen Gu Just interested in investing.
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!