Financing an Out-of-State Multifamily Property

[Michael Smith]

Hey BP!

I'm looking into purchasing an 8-unit apartment building, but it's in a different state from where I live. I called several local banks in my area, and they are not interested in financing the purchase of an out-of-state property... I called several local banks close to the property, and they are not interested in financing the building for an out-of-state borrower. The only companies that I've found that would be able to help me are offering very high rates. Does anyone have a recommendation of a national commercial lender, who might be willing to lend on an 8-unit building for an out-of-state investor at a reasonable rate? I live in FL and I'm interested in investing in SC.

Thanks!

[Michael Smith]

Thanks @Joel Owens - I'll give Arbor a call. I'm personally not a fan of partnerships, just not my cup of tea.