Getting a GREAT loan officer and bank on your team
Hey guys,
Just wanted to let you know that what people are saying on here is right. YOU NEED TO HIT UP A SMALL LOCAL BANK. The loan officer told me that loans wouldn't be a problem up to $1M! after that...it would just take longer. They said they would do cash out loans, the suggested becoming an entity (LLC),
The just want:
LTV- 25/75
DCR- 1.25
They will write a 20y loan with 3/4/993, 4/5.243, and 5year/5.493% loans
She also suggested that the LLC hold each property as a separate "series" I don't quite know what that means, but...I meet w my CPA tomorrow and will tell ya more.
Good luck all!