Local Lender Palm Beach or Orange County
Hi all, this is my first post on BP. I have a few properties in West Palm Beach and Orlando, Fl that has some good equity and I plan on pulling out some of it to purchase more units. I hear it's good to build a relationship with a local bank for favorable terms and portfolio lending in the future. Has anyone worked with any local banks they are happy with and understands various investment strategies or should I just deal with a National Bank instead? I want to get my financing and cash in order before jumping back in.
Most Popular Reply
Cash out refinancing is a great way to invest in more properties. If they are single family residences you can get an LTV of 75% and a multi-family residence is 70% LTV.
Finding on a loan officer that focuses on investor financing, can be more valuable than a local lender. An investor friendly loan officer will have the experience and knowledge to guide you through the process correctly.
- Jerry Padilla
- [email protected]
- 585-204-6923
