Financial Lending in The District of Columbia, Maryland, Virginia

[Brandon Weedon]

Hello All!

I'm looking for a small bank that lends their own money as opposed to getting the money from Freddie, Fannie, or some other large institution for flipping purposes. According to J.Scott's Book on Flipping Houses these portfolio lenders are best for new real estate investors. Does anyone have any recommendations as to where I can find a portfolio lender in the DMV??

[Nicole Graves]

@Brandon Weedon Congrats on getting started in REI. There are several banks that offer private lending. My suggestion would be to do a Google search to see what small banks may offer this in your area. In the Richmond area, EVB Bank, George Mason Bank, and Towne Bank offer private lending. If they are in your area, maybe reach out to them and inquire. I do agree with @Andrew Michael that most of the time they will ask for your track record in real estate investing.  You may also consider reaching out to a local credit union in your area and possibly consider a personal line of credit.  Just a few ideas. 

Wish you well.