Commercial lending for 16 unit in Michigan

[Eric Hamilton]

Hello everyone, I'm looking for some assistance. I currently live in Texas but I have a real estate portfolio in Michigan. I own multiple single family dwellings and I just put an offer in on a 20 unit for about 700k. I talked to a couple of local banks and they were not comfortable lending to out of state investors. 

Is Wells Fargo and PNC the best options for commercial loans?

Thanks in advance 

[Gage Edwards]

Hello Eric,

There are definitely more options than Wells Fargo and PNC banks. Out of state investors have the option of working with commercial lending companies who will finance properties nationwide and for out of state investors. I am a commercial mortgage broker who has relationships with several lending institutions who can provide competitive rates and terms while giving greater flexibility. Perhaps I can source your loan request and give you options from a variety of lenders. If you are interested feel free to contact me.

Happy Investing!