Quote from @Drago Stanimirovic: Banks seem to have tightened up on ground-up and major renovation loans.

Quote from @Shuchi Gupta: Hi BP community,Looking for real-world experience from multifamily owners or investors who’ve done a panel upgrade.I have an 8-unit building in Santa Clara, CA, and I’ve received 3 quotes to replace the main service panel & meter bank (9 meters total, including common laundry).What differs across the bids:600A Eaton meter bank Square D panel but amp size not specifiedOne bid includes the laundry subpanelSome bids don't include permit/engineering/stucco patchingPrices range from $19K to $38K some not including permit fees.Current setup:1960s buildingGas water heatersShared laundryUpgraded kitchen appliances over timeAll tenants have window AC units, No EV chargers yetQuestions:Did you go 250A or 600A on your small multifamily upgrade?

@Jason Bobby and the rest of the BP community...I am currently trying to decide between a big name bank, Stessa, or Baselane myself.

Bank financing is available from a local credit union or bank, but dont be suprised if the bank cuts you off at 60% LTV of the ARV

With banks/CU's, their DS also includes property management, maintenance, etc.

To @Wayne Brooks  brooks point if the bank doesn't own it, On what grounds can they forbid you access.

The issue is the bank (seller)  has expressly forbidden me from accessing the property until deed is transferred.

Bank says I'm unable to do a HELOC on the property since it's under a business.

I’ve been having more conversations lately about how investors are adjusting their financing strategies with banks tightening up, rates moving around, and deals needing to close faster than ever.One thing I’m seeing: more investors leaning heavily on private money and asset-based lending, especially for fix-and-flip and short-term bridge needs.Curious how others here are approaching it:Are you using private lenders more often than traditional banks right now?

We use Bank of America Business and they accept and send via zelle.