Local Real Estate Networking

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Jay Shuler
  • Realtor
  • Hallsville, TX
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Investor friendly banks/CUs in East Texas?

Jay Shuler
  • Realtor
  • Hallsville, TX
Posted Jun 18 2021, 11:21

Good afternoon everyone, like the title says, I was curious if anyone had recommendations for investor friendly banks or credit unions around Longview Texas. I would really appreciate it, thanks in advance!

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Patrick Bartlett
  • Realtor
  • White Oak, TX
21
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Patrick Bartlett
  • Realtor
  • White Oak, TX
Replied Jun 18 2021, 11:49

I havent found one yet that could beat aimloan.com unless you are going commercial. 

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Aaron Gordy
  • Real Estate Broker
  • Austin, TX
907
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Aaron Gordy
  • Real Estate Broker
  • Austin, TX
Replied Jun 18 2021, 12:08

Go to your local banks. Create a relationship with them. Relationships are everything. Credit unions are good too. A quick google search would lead me to Community bank first. 

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Tyler Lawhorn
  • Rental Property Investor
  • Longview, TX
2
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Tyler Lawhorn
  • Rental Property Investor
  • Longview, TX
Replied Jun 18 2021, 13:13

Hey Jay, I'm in Longview and would love to connect with you. Welcome to Texas!

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Jay Shuler
  • Realtor
  • Hallsville, TX
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Jay Shuler
  • Realtor
  • Hallsville, TX
Replied Jun 18 2021, 13:33

Thanks! Got your request, look forward to meeting you and learning more about this fine community!

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Mike Reynolds
  • construction
  • Nacogdoches, TX
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Mike Reynolds
  • construction
  • Nacogdoches, TX
Replied Jun 19 2021, 22:29
Originally posted by @Jay Shuler:

Good afternoon everyone, like the title says, I was curious if anyone had recommendations for investor friendly banks or credit unions around Longview Texas. I would really appreciate it, thanks in advance!

 Jay, have you tried ETPCU? Check them out. 

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Jay Shuler
  • Realtor
  • Hallsville, TX
10
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27
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Jay Shuler
  • Realtor
  • Hallsville, TX
Replied Jun 22 2021, 13:17

 Jay, have you tried ETPCU? Check them out. 

 Thanks! We have one right down the street in Hallsville. I'll go in and chat with them.

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Nick Dunin
  • Real Estate Investor
  • Longview, TX
27
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Nick Dunin
  • Real Estate Investor
  • Longview, TX
Replied Jun 28 2021, 19:31

@Jay Shuler

Hi jay,

I haven’t used etpcu yet but plan to. They will finance a rehab project with 10% down of the acquisition cost and finance all rehab work as long as you have 20% equity when the rehab is complete. 5% on a 5/1 over 20 years.

Welcome to east Texas!!

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Jay Shuler
  • Realtor
  • Hallsville, TX
10
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27
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Jay Shuler
  • Realtor
  • Hallsville, TX
Replied Jun 28 2021, 19:36
Originally posted by @Nick Dunin:

@Jay Shuler

Hi jay,

I haven’t used etpcu yet but plan to. They will finance a rehab project with 10% down of the acquisition cost and finance all rehab work as long as you have 20% equity when the rehab is complete. 5% on a 5/1 over 20 years.

Welcome to east Texas!!

Thanks Nick! That’s exactly the kind of info I’m looking for.  

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Pete Harper
  • Rental Property Investor
  • Streetman, TX
397
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443
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Pete Harper
  • Rental Property Investor
  • Streetman, TX
Replied Jun 29 2021, 05:42

@Jay Shuler

Last March I was having trouble finding a commercial lender willing to do a cash out refinance on a BRRRR. All the big banks were not lending. No luck with BoA, Wells Fargo or etc. Finally I made a list of 20 smaller regional banks and CU and started calling. I found two; Vera Bank and CBTX. I was able to close with CBTX. 80%, 4.25% 15yr.

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Jay Shuler
  • Realtor
  • Hallsville, TX
10
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27
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Jay Shuler
  • Realtor
  • Hallsville, TX
Replied Jun 29 2021, 06:36
Originally posted by @Pete Harper:

@Jay Shuler

Last March I was having trouble finding a commercial lender willing to do a cash out refinance on a BRRRR. All the big banks were not lending. No luck with BoA, Wells Fargo or etc. Finally I made a list of 20 smaller regional banks and CU and started calling. I found two; Vera Bank and CBTX. I was able to close with CBTX. 80%, 4.25% 15yr.

Thanks @Pete Harper! That's super helpful. I'll do some research on Vera and CBTX. Really appreciate the ideas.

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Mike Reynolds
  • construction
  • Nacogdoches, TX
1,040
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Mike Reynolds
  • construction
  • Nacogdoches, TX
Replied Jul 1 2021, 08:37
Originally posted by @Nick Dunin:

@Jay Shuler

Hi jay,

I haven’t used etpcu yet but plan to. They will finance a rehab project with 10% down of the acquisition cost and finance all rehab work as long as you have 20% equity when the rehab is complete. 5% on a 5/1 over 20 years.

Welcome to east Texas!!

Yes, love ETPCU. They have been my bank for 25 years but I haven't financed any investment property yet as most of my stuff is out of state. But they beat everyone I have ever put them up against on other loans like mortgage,car and other. GMAC credit was offering "great" terms on a truck down in south Texas and I just called them and they said no way. We got you covered and made it happen so fast the salesman didnt know what hit him.

Best bank I know for long term relations.

Now, if I could just find something local to buy. 

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Replied Nov 23 2022, 22:47
Quote from @Jay Shuler:
Originally posted by @Nick Dunin:

@Jay Shuler

Hi jay,

I haven’t used etpcu yet but plan to. They will finance a rehab project with 10% down of the acquisition cost and finance all rehab work as long as you have 20% equity when the rehab is complete. 5% on a 5/1 over 20 years.

Welcome to east Texas!!

Thanks Nick! That’s exactly the kind of info I’m looking for.  

Hey Jay, hopefully you're able to source a good bank for your REI. 

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Eliott Elias#3 All Forums Contributor
  • Investor
  • Austin, TX
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Eliott Elias#3 All Forums Contributor
  • Investor
  • Austin, TX
Replied Nov 24 2022, 08:25

I have a lender i'm happy to connect you with