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Updated about 9 years ago,

User Stats

41
Posts
7
Votes
Mai Vo
  • Rental Property Investor
  • San Jose, CA
7
Votes |
41
Posts

Portfolio or Small Multi Apartment Lenders in B'ham AL?

Mai Vo
  • Rental Property Investor
  • San Jose, CA
Posted

Hello, 

I'm looking to purchase a small 7 units (185k) in Birmingham AL and called almost all the local banks and the general consensus is the deal isn't within their appetite for one reason or another (being in CA buying in AL, loan too small was a few factors for these bank). One bank would take the deal but with 6%, only 5 years balloon and 70% LTV. Anyone know of any other lender resources in this area? Perhaps a portfolio lender that I can group some other holdings into this purchase? Appreciate in advance for your feedback!