Investor friendly banks in and around Albany Oregon

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Investor friendly banks in and around Albany Oregon

Ezra Peachey
Real Estate Agent · Salem, OR · Member since 2016 · 6 posts · 1 vote

Hey Bigger Pockets community.  Me and my wife just moved to  Oregon. I'm looking into starting a checking account/ relationship with a bank or Credit union that is Investor friendly around Albany , Stayton or surrounding  areas. I'm focusing on rehabbing, brrr, and rental houses.  Any thoughts and suggestions on the matter would be greatly appreciated. Thanks.

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Aaron Hollingshead
Flipper/Rehabber · Roswell, NM · Member since 2014 · 74 posts · 65 votes
7y

Hi Ezra, 

I don't have a specific place to recommend but recently, I found a bank that has been amazing to partner with in my market in New Mexico.  What I discovered after hearing 'No' a number of times was that the smaller the bank the better.  Mine has only 3 branches, guns and antlers on the walls, they serve coffee when I come in and they know me by name.  They are so small that the VP who I work with is also the tech guy, the pr guy and more.  So I'd say, find all the banks in town, find which is locally owned and walk in to set up a meeting.  Also, see if your realtor can recommend somebody.  Good luck!  

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  • Aaron Hollingshead
    Flipper/Rehabber · Roswell, NM · Member since 2014 · 74 posts · 65 votes
    7y

    Hi Ezra, 

    I don't have a specific place to recommend but recently, I found a bank that has been amazing to partner with in my market in New Mexico.  What I discovered after hearing 'No' a number of times was that the smaller the bank the better.  Mine has only 3 branches, guns and antlers on the walls, they serve coffee when I come in and they know me by name.  They are so small that the VP who I work with is also the tech guy, the pr guy and more.  So I'd say, find all the banks in town, find which is locally owned and walk in to set up a meeting.  Also, see if your realtor can recommend somebody.  Good luck!  

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    @Richard Sherman  any suggestions for a mid valley small commercial bank.. ?

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  • Richard Sherman
    Rental Property Investor · Salem, OR · Member since 2017 · 696 posts · 660 votes
    7y

    @Jay Hinrichs Hey buddy..normally yes...But NOT for someone from SCIO!  ahaha...JK..@Ezra Peachey , I grew up in Jefferson so we are sworn enemies...and probably related!

    Umpqua Bank is a great player for commercial and are pretty flexible (we did a portfolio loan spread over 5 properties with them last year.)  We have used Marc Person at Commercial Lending Group out of Portland for most of our larger purchases, they are awesome but I think do not do anything smaller than 1 million.  We talked with First Tech Credit union and they were very open to the portfolio loan as well even though we eventually went with Umpqua. Jeremy Stephens @ Willamette Valley Bank might also be a good person to talk to.  They are more on the smaller commercial and residential but very scrappy and good people.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Richard Sherman:

    @Jay Hinrichs Hey buddy..normally yes...But NOT for someone from SCIO!  ahaha...JK..@Ezra Peachey , I grew up in Jefferson so we are sworn enemies...and probably related!

    Umpqua Bank is a great player for commercial and are pretty flexible (we did a portfolio loan spread over 5 properties with them last year.)  We have used Marc Person at Commercial Lending Group out of Portland for most of our larger purchases, they are awesome but I think do not do anything smaller than 1 million.  We talked with First Tech Credit union and they were very open to the portfolio loan as well even though we eventually went with Umpqua. Jeremy Stephens @ Willamette Valley Bank might also be a good person to talk to.  They are more on the smaller commercial and residential but very scrappy and good people.

    thanks Richard..   I want to touch base with Willamette myself.. they are my speed.. in the great GFC Umpqua called a 5 mil dollar facility I had and I will never forget that one..  LOL 

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  • Richard Sherman
    Rental Property Investor · Salem, OR · Member since 2017 · 696 posts · 660 votes
    7y

    @Jay Hinrichs yeah, Umpqua has gotten pretty big comparatively, I had good luck with them, but then again were cash out reifiing paid for properties and only at 50% LTV...so, of course, they were nice..haha

    Have you talked to Opus?  Thats where the loans have ended up with Commercial Lending Group and they have been great.

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  • Ezra Peachey
    OP
    Real Estate Agent · Salem, OR · Member since 2016 · 6 posts · 1 vote
    7y
    Thanks for the replies guys! I appreciate it! I'll be checking into a few banks around here. Lol @Richard Sherman I just move here don't know anything about the feud between Jefferson and Scio feel free to enlighten me😀
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  • Richard Sherman
    Rental Property Investor · Salem, OR · Member since 2017 · 696 posts · 660 votes
    7y

    @Ezra Peachey  Sounds good PM me if you need details or contact info.  Jeremy Stephens @ Willamette Valley Bank would be a good place to start.  Nice guy, knows a lot and hungry to make things happen!

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