All Forum Posts by: Bernadette Sullivan

We are soon to complete a deal to buy a duplex and using a good % of our cash to finalize the deal with a bank. Another opportunity has come up to buy a 4-unit for approx. $125K. This would be for a buy and hold. For the first time, I am looking at using a HML to fund the deal and plan to refinance the HML into a traditional loan with one year. I have contacted a few HMLs who will do business in OH. The one I am considering is Crowder and Company LLC. Does anyone have experience with this company? I have been quoted a loan of $127,500K @ 11.99% interest and 4% origination fee. They will include the $15K rehab cost in the loan amount. We both have excellent full times jobs, own one other 4 unit (from 1999) and credit scores near 800. We are tapped out equity-wise on our PR and 4 unit. Just trying to do a little due diligence - any advice on this company?

@ Chuck Cramer ... I am a personal banker there.  I know we do, but you have to live in our footprint.

Huntington Bank will do line of credits on rental properties in their footprint up to 75% LTV. $60 annual fee. 1% bump on interest rate