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Updated over 2 years ago on . Most recent reply

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Anthony Martin
  • Investor
  • Pittsburgh, PA
10
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36
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BRRRR Method Lenders

Anthony Martin
  • Investor
  • Pittsburgh, PA
Posted

Hello BP Community, 

I purchased my first rental property under a LLC last year and have been fighting to get the cash out of the property ever since. So I have worked with a few lenders in Pittsburgh at FCW, FNB, Key Bank, and Standard Bank. None have been able to help me and have completely trashed my credit inquiries after overpromising and under delivering. I am currently pulling cash out through Gauranteed Rate and would like to use this money to grow my business through fix and flip and BRRRRing properties. I am looking for a lender, broker, etc that will be able to help me get to 50+ units in the next 2.5 years.

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4,576
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4,421
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
4,421
Votes |
4,576
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied

Going with a private lender over a bank is probably gong to be your best bet.  Banks definitely offer the best rates, but the downside is spelled out exactly in your experience...deals fall through due to stringent and inflexible underwriting

  • Robin Simon
  • [email protected]
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