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Updated about 8 years ago,

User Stats

14
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0
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Ben D.
  • Investor
  • Portland, OR
0
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14
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Local vs. out of state financing for out of state rental

Ben D.
  • Investor
  • Portland, OR
Posted
Hi everyone, I am looking at purchasing an out of state rental property and had the following questions when it comes to financing it: 1. Do you recommend using a bank that's local to me or local to the property? 2. Would you suggest a credit union or a national bank? 3. If you live in a non-recourse state, but the rental and bank financing it are in a recourse state, what happens if you default on the loan? Thank you in advance. Ben

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