Lender reccomendations for Little Rock and Jonesboro, AR

[Account Closed]

I'm an out-of-state investor starting to peak my head into some new markets and was hoping to hear some lender recommendations from the BP community. I'm interested in developing relationships with local lenders in the Jonesboro and Little Rock, AR areas. I plan to initially purchase and rehab properties under 80k with cash and a HELOC that I already have in place. I would then put the property under a more traditional 30 yr mortgage. I have excellent credit and no debts (with the exception of my primary residence) but my challenge is that my W-2 earnings are realtively low. I'm hoping to work with a local lender that understands my situation and can offer flexible or creative ways to help me achieve my investment goals. I'd love to hear any recommendations for lenders in the Jonesboro or Little Rock area that are investor friendly.

[Roger Holden]

Some lenders like to see that you have experience or partner up with someone who does. Having a minimum of 30% skin in each deal is a good goal to reach for, but with less experience the higher the percentage will be needed for cash in the deal. Each real estate transaction is unique by itself. There are many different factors to consider when lending money to investors. FICO, liquidity, experience of the borrowers, the property history and potential, location of asset, demographics of area, and what the plans are for the property by the prospective new owners.