Investor Friendly Bank - Florida

[Al Banfe]

Looking to build a relationship with a bank, that offers portfolio loans. (branch in West Palm - Boca Raton preferably)

THANKS!

-Al

[Doug Smith]

Before we started this company several years ago, I was a bank exec in Florida. Federal Regulators for some reason hate real estate investors. They pressured us not to make loans to investors and, all the banks I worked for, were really tight on their investor lending to the point that they only did it for strong clients that might do a deal on the side. If a doctor had his/her relationship with us and decided to buy a rental, we might do the deal. If investing was a big part of their income, however, the banks I worked for frowned upon the deals. I suspect you'll have better luck with lenders or brokers that are 'non-bank', but if you do insist on working with a bank, I would avoid big banks. Community Banks are more likely to work with you as an investor, but they are going to require higher liquidity from you, a significant deposit relationship, and will likely not be as agressive with the loan terms that you might find with lenders that specialize in investor deals. It seems like every lender is trying to get into the investor game. Make sure you choose one with experience and a strong track record. I know that doesn't specifically answer your question, but I truly hope it helps coming from an long-time, ex-banker. I wish you well in your investing journey.