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Updated over 5 years ago on . Most recent reply

User Stats

92
Posts
37
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Aaron Brown
  • Rental Property Investor
  • Independence, MO
37
Votes |
92
Posts

Need portfolio lender or investor friendly bank in Kansas City

Aaron Brown
  • Rental Property Investor
  • Independence, MO
Posted

Good morning BP!

It's been awhile, I've been hard at work investing in Real Estate!  I'm more in search of an investor-friendly bank or portfolio lender for my properties in Independence MO. Any advice also appreciated.

Following properties I'm looking to refinance:

Personal Residence- currently 75k loan, 7% interest. Would now appraise for 110-130k. Wanting to pull cash out to fund a down payment for an upcoming multifamily deal.

Fourplex- currently JV partner deal 50/50 and i have a 40k loan 6.25 %interest with balloon in 3 years. Would appraise at approx 110-120k. Gross income $2121

My goal is to refi with possible lower interest rate and pay off my loan and buy out my JV PARTNER.

_______

Additional properties NOT necessarily needing refi:

Also have four SFR Rentals all together on one private lender note approx 80k left, 6.25% interest, 8 years left on note. Gross income $2695.

Fourplex on 30 year FHA NOTE approx 4%interest. Gross income $1990

Most Popular Reply

User Stats

2,093
Posts
2,359
Votes
Lee Ripma
  • Rental Property Investor
  • Prairie Village, KS
2,359
Votes |
2,093
Posts
Lee Ripma
  • Rental Property Investor
  • Prairie Village, KS
Replied

@Aaron Brown

Hi Aaron,

I live in Southern California but I invest in Kansas City. I'm no pro when it comes to financing but I just starting working with a new bank that I hope is going to be new local lending source, we'll see. I also got a referral to a portfolio lender that I didn't end up working with. 

Feel free to PM me for the contact info of these folks! There are also crowd funding sources like Realityshares. I know @Jay Hinrichs does lending as well. 

Hoping I can find a small to medium sized apartment as my next deal, after doing 6 residential units I only want to go commercial! 

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