All Forum Posts by: Michelle Truong

Hi BP! 

Currently looking for a business loan. Anyone know any investor friendly lenders that work with out of state investors?

Hi BP! 

I've been struggling to find a lender that would refi a property that appraised for 68k. We went through the whole process to get it refied with one lender, but there minimum was 70k. The lender said there was a chance we could get the refi done, so we paid for the appraisal and got everything almost to the finish line and after patiently waiting, the lender informed us that the bank wasn't going to let us even though we were off by 2k. It didn't work out for us in the end, and we've been searching for a lender that could help us.  Any one know any lenders that can help with this? This property is in Indiana. We paid cash and rehabbed it, but finding it difficult to get the refinance so that we can repeat. Any advice would be helpful!

Hello BP

My husband and I are OOS investors in CA, investing in Indiana looking for a lawyer to help us write a few contracts that have to do with hard money, equity for new property acquisitions, and equity for existing property owned. I saw that Jynelle Berkshire was referred in a previous forum. Anybody work with her or know if this is something she would help me with? Other lawyer referrals are greatly appreciated too! 

Thank you,

Michelle

Hello BP, 

I'm looking to refinance a property I have in Indiana that was bought cash and has been seasoned for 6+months. I went through a lender that said they could refinance the property, but the appraisal came back around $68k, which is just shy of their minimum of $70k. The lender hasn't completely given up, but I'm trying to find another lender that might meet this amount. I've tried local credit unions in Indiana, but in most cases you have to live in that state. I'm based out of California. I'm looking for nationwide lenders that would help OOS investors. Is there anyone that knows any lenders that would accept that amount?

Thank you in advance! 

@John Warren Thanks for the tip! 

@Steven Goldman

Thank you for the tips! My husband and I are planning to go to Indiana in May. We are going to meet our team and hopefully meet with some banks to see if they can help us. We're finding it challenging that the local banks we've called so far only work with investors that are instate...

Hello BP! 

My husband and I have a property under our LLC in Indiana that we bought cash for $47.5k, put $13k into it, and it's currently renting for $875/mo. We're not completely sure how much it's worth now, but we think it'd be in the mid 70s. We're looking to put a loan on it, but running into trouble with loan minimums.

Is there anyone that could with this OR have any advice?

@Stephen Jones

I've also seen some multi-family properties out there that interest me. I'm trying to connect with fellow investors to see how the area is. 

@Patrice Boenzi

Thanks for the tip! @Patrice Boenzi@Patrice Boenzi

Hello BP! 

I've been trying to find any forums about this area. Anyone have any investments properties here? 

Any tips and/or advice would be much appreciated! Thank you!

Grateful for this thread!  Super informative. Calling a few hard money lenders tomorrow and this totally prepared me. Thanks!