Property management & banks

[Chris Kendrick]

Just wondering what property management everyone uses and how much they charge on avg around NC area in raleigh, or is it different for each county or city, also for investment properties i know someone who got a loan for like 0 percent down from a small local bank, has anyone experienced this at all or even maybe like a 2 or 3 percent down, not talking about VA loans or FHA loan, just wondering if a small bank would do this,

[Cory J Thornton]

@Chris Kendrick - I spoke to three lenders this morning. On rental properties I am being quoted 80% Loan to Value as long as the Debt Service Coverage Ratio is 1.25 or better. These were all smaller, local banks that I was speaking with. 

I know back in previous housing collapses banks were giving away houses with zero down to get them off their books, but that's not the environment we are in today … especially not in the Raleigh area. 

All the above said, you find the one who lends with low money down, and the interest rate is reasonable, please let me know. If that loan product exists, I would love to learn more.