Updated almost 7 years ago on . Most recent reply
Location approval by lenders
Hi BP family,
I have recently got turned down with the first step of Location Approval by a lender.
The properties were old Multiplex build in 1900 and been renovated recently. They were all fully occupied with decent rental income and close to downtown, away from the war zone.
Of course, it’s a warning sign that I shall be careful with these kind of properties if the banks did not like them.
I would appreciate if you guys out there can provide some different perspective or share some experience no matter as an investor or a lender. So I could learn more about choosing properties with lenders favor or say what kind of properties I shall avoid when it comes to lending?