Updated about 1 year ago on . Most recent reply
Please suggest Dallas lenders to finance investment properties
Hello everyone,
I'm looking to start investing in real estate in DFW metroplex, but I'm having a hard time finding lenders that can finance my purchase price + renovation costs, I called to about 15 different banks (and all of them have different issues).Initially I was trying to find a lender that can finance 100% of the deal if it falls within 70% of projected ARV (I follow a few real estate investors that suggest to find such lenders, it is usually small local banks), but I couldn't find any lender like that in DFW. But I'm fine to put down 20% on total value (80% LTV), I have a full time job, so I can support my underwriting with the steady income. I'm very serious about this business, I even got a real estate license in order to close my own deals.
Can someone suggest lenders that work with inexperienced investors, and can finance p.p.+renovation costs.
Thank you everyone in advance for the suggestions and help!