Investor Friendly Banks/Lenders in Memphis

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Investor Friendly Banks/Lenders in Memphis

Danielle Wolter
Rental Property Investor · San Diego, CA · Member since 2019 · 290 posts · 254 votes

I am just starting with investing in Memphis, and before I take the plunge and start making offers, I want to talk to some lenders about what my options are. I am a cash buyer right now, but will be looking to refinance the properties as I rehab and get them rented. I know there are banks with longer seasoning periods, minimum loan amounts, etc., etc. I don't want to end up with my money stuck in a deal unable to refinance because I didn't do my homework beforehand. 

I do plan on starting to call banks and credit unions in Memphis, but wanted to check for some recommendation first. I'd love the name of some investor friendly lenders if anyone has any suggestions. I'm open to talking to banks, credit unions, or private money lenders. Thanks!

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Curt DavisBusiness Member
Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
7y

Aaron Chapman with security national mortgage company out of Phoenix az.  

Nina Harrison with motto mortgage in Memphis Tn. 

Those are just a few. 

Good luck 

Curt Davis - KAIZEN Realty538 Reviews
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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    7y

    Aaron Chapman with security national mortgage company out of Phoenix az.  

    Nina Harrison with motto mortgage in Memphis Tn. 

    Those are just a few. 

    Good luck 

    Curt Davis - KAIZEN Realty538 Reviews
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    4Reply
  • Stephen Akindona
    Investor · Memphis, TN · Member since 2013 · 741 posts · 845 votes
    7y

    Aaron Chapman is the best in the business in my opinion working with investors! 

    I have also used Richard Collins from Renasant bank and had very quick and smooth experiences! 

    1Reply
  • Randall Weatherall
    Real Estate Agent · Memphis, TN · Member since 2019 · 261 posts · 253 votes
    7y

    Our buyers have had great success with John Philips at Brighton Bank, Chuck Jackson at Guaranty, and Michael Wiegert at Renasant for 1-4 units!

    2Reply
  • Matt Land
    Memphis, TN · Member since 2019 · 2 posts · 0 votes
    7y
    Somewhat of a hijack.. but do these investors do loan-to-value type loans that would need for proper "BRRRR?" Im very new, lived inMemphisall my life and im trying to learn and get set up to invest.
    0Reply
  • Gabe Viteri
    Rental Property Investor · Westchester County, NY · Member since 2018 · 30 posts · 28 votes
    7y

    Hi @Danielle Wolter, I wanted to check in to see how you are moving forward in Memphis. What obstacles have you run into since your original post, and what are your next steps?  

    0Reply
  • Danielle Wolter
    OP
    Rental Property Investor · San Diego, CA · Member since 2019 · 290 posts · 254 votes
    7y

    Hi @Gabe Viteri. I'm in the middle of a rehab on my first property and so far so good. I did make the mistake of not adding my rehab costs to the HUD when buying, so my cash out refinance will be limited to my purchase price unless I wait to 6 month seasoning period. Other than that, I've been very happy with my experience. I'm ready to buy my next property!

    1Reply
  • Tristan H.
    Rental Property Investor · Memphis, TN · Member since 2013 · 56 posts · 29 votes
    6y

    Danielle,

    I was just having a conversation with @Jerry Skefos about this very issue. How do you add the renovation budget to the purchase price on the HUD? Is it as simple as placing the reno funds with your closing attorney?

    0Reply
  • Tom Nguyen
    Rental Property Investor · Austin Tx · Member since 2012 · 89 posts · 26 votes
    6y

    If it Rehab Loan, then your bank should send Purchase price and Rehab money to the closing office. The closing office will keep the rehab money and you can draw from them when you completed the renovation. 

    0Reply
  • Ryan Alacon
    San Diego, CA · Member since 2018 · 30 posts · 12 votes
    6y

    I used Aaron Chapman for a BRRRR we just completed a couple months ago. Great, knowledgeable team and very responsive. I would use them again for 1-4 unit properties. Make sure to spend a little time talking to Aaron directly to let him know your strategy.

    1Reply
  • Ryan Alacon
    San Diego, CA · Member since 2018 · 30 posts · 12 votes
    6y

    To add the rehab budget, we just let the closing company know to make sure to add it to the HUD. It was as easy as that. You send them the funds for purchase, closing fees, insurance if you will have them pay it, and rehab funds. After close, we received our rehab funds back.

    0Reply
  • Adam Summerer
    Lender · Franklin, TN · Member since 2026 · 59 posts · 11 votes
    1w

    Do the homework before you go under contract — ask every Memphis desk their seasoning, min loan amount, whether they lend to OOS borrowers, and if cash-out is on cost basis or appraised value after rehab. Local portfolio banks can work for relationship deposits, but a lot of OOS investors end up on DSCR/business-purpose for the refi because Fannie DTI and property-count overlays choke scale. Call 3 locals + 2 DSCR shops with the same sample deal (purchase/rehab/rent) so you're comparing apples.

    0Reply
  • Jordan RayBusiness Member
    Real Estate Agent · Memphis, TN · Member since 2023 · 642 posts · 333 votes
    1w

    You're thinking about this exactly the right way because I always tell BRRRR investors to figure out the exit financing before they buy the property. The last thing you want is $100K+ tied up in a completed rental only to find out afterward that your lender has a seasoning requirement, minimum loan amount, LTV restriction, or some other guideline you didn't account for. Since you're specifically investing in Memphis, I'd recommend reaching out to Tim Smith at CrossCountry Mortgage and Ryan Guess at Northpointe Bank and explaining exactly what you’re planning to do—buy cash, rehab, stabilize the property, and then refinance your capital back out. I’d compare their options against local banks and credit unions as well because different properties and loan amounts may call for different solutions. Also, since you’re planning to buy with cash, I’d at least compare that strategy against using hard money before tying up all your liquidity. The local hard money lender I use on my own purchases can finance 100% of the purchase and 100% of the rehab, with many investors getting into deals with around $10,000 out of pocket before refinancing into long-term financing. That can leave substantially more of your cash available for reserves or additional acquisitions. Beyond financing, start practicing by analyzing ARVs, rents, rehab costs, market trends, and learning the overall Memphis layout because all of those numbers ultimately determine whether your refinance works. I’d also build your boots-on-the-ground team now—an investor-friendly agent who also owns rentals, a strong property manager, reliable general contractor, hard money lender, and long-term lender—so everyone understands your strategy before you start making offers. Feel free to reach out, talk soon!

    [email protected]662-642-1458
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