Finding a Lender

Wanted to share that finding a good lender can be a challenge.  In the Twin Cities, there are a number of lenders that seem to lend with their best interests in mind.  I've spoken with commercial lenders that immediately say, 'we will lend 75% of value', for 15 year amortization, to portfolio loan.  No consideration of how good the deal is can be considered.  

I got a great referral from a source I did not expect.  A more experienced investor who is a biggerpockets member was someone I reached out to about a four plex advertised on his site.  During the review of that property, which did not work out, he shared info about a local small bank that was very investor friendly.  The banker, Julie, is even more impressive, because she knows options that I had no even considered, and if needed, they have portfolio loans at 25 year ams and will loan 80%.  

I have had several 'what if' scenarios with Julie, and I haven't stumped her yet.  Ask around other investors...even the whales are just people like you and I.  Ask them...they have a lot of great info, even if this time, you don't buy their property...they know, you will remember and refer.  Win/Win definately.