Looking to build a finance relationship

[Robert Buck]

Looking to start building a financing relationship. Bought my first two B&H SFR in March of this year through a local broker our realtor/future PM recommended. We are up to our 6 month seasoning period and looking to do a cash out refi on them to roll on with the brrr. First house comps in the immediate area suggest an ARV of around $110k. Current mortgage is $42k so I'd like to pull around $30k in equity out of this one. Rents for $1k a month. Which will still leave me at about 65%LTV and still a nice monthly cash flow. Second house is a little bigger is sq' same area and comps suggest and ARV of $140k. Current mortgage is $40k and again I want to pull $30-35k out of this one. Rent $1300/month. Numbers out me at about 54%LTV and still cash flows. Credit score and W2's aren't a problem so walking into my regular bank to get a conventional loan should be relatively painless but I'm trying to establish more than just these two loans right now. My main objective is to establish the first two of many loans and begin building a relationship. I've always done my banking with a large national bank which won't do me much good now once I hit 10 mortgages. I'd rather not have to start over building a relationship at that point. Just seems better to lay the ground work now and build it once. I want to be able to do many more BH and potentially flips here and there. With all of that said what suggestions might this group have. I've talked with one smaller local bank whom was not investor friendly and the "commercial loan manager" really didn't understand the process as we would talk once then he would call back a couple hours later or the next day to apologize what he had said was wrong and it was this or that instead of what he had initially said. Is there a large financial portfolio institution I should be looking at or just keep searching for a local bank. I've already got a few more properties I'd like to get moving on.

[Mike Burkett]

That's right up my alley.  All I do is help investors grow their business.  I can help you with fix and flip loans as well as single property rental loans and portfolio loans.  The 6 month seasoning isn't impossible, but it is becoming scarce.  The loans we do are driven by the property cash flow, not your W-2 income.  That extra income is great, but not required for loan approval.  I don't do Fannie Mae loans, so the 10 property max doesn't apply.  Look forward to helping you out.