Commercial lending for oos investors

[Brian Cerezo]

Hey y'all! Hopefully everyone is doing well in this market! I have a question for you guys. So I've been putting my rentals under my personal name and now I felt it is time to LLC the business and start scaling a bit faster… but now comes my speed bump I've run into.

Everyone has been telling me go to the small local banks to get the best rates and terms and a cash out refinance. I currently live in NY and invest in OH. All the small community banks said they only work with locals.

Does anyone have and recommendations for banks that do commercial lending in the Ohio area specific Toledo and Canton area?

Thanks,

Brian

[Nick Belsky]

@Brian Cerezo

Interesting.  I've not run into this at all.  Find a national lender, doesn't need to be hard money at all.  They will work with you all over the country so long as you have the liquidity.

Plenty of folks investing in Ohio right now.

When you say commercial, are we talking 5+ Unit multifamily here or a portfolio of 1-4 unit rentals?  Two different animals.

Cheers!