Fayetteville, NC -- Community Bank Recommendations?

[Adam Schneider]

I'm looking for a community bank that operates in Fayetteville, NC. Help in advance is appreciated. Self-Help doesn't work for what I need (my wife says I need lots of self-help, but that's a different discussion).

[Alexander Felice]

Originally posted by @Vernon Wall:

@Alexander Felice heard your podcast last week. I am just starting out here in Fayetteville. My partner and I have our first property under contract. Wish us luck.

I am working in USASOC right now so that is fun. Hit me up if you come visit here. We will take you out for a bite.

How important is our Bank decision?

Should we just try out a couple local ones? I am taking your advice on adding our contracting cost into the HUD 1. We will escrow them with the closing attorney.

I sat down with First Citizens and First Nat. this week. They said that our loans will have to season before they can refinance. That is pretty typical correct?

Wish you well brother and Airborne!

Airborne!  I did some time where you are (3rd group, Sigdet)

Bank decision is incredibly important. I don't recommend banks at all actually, find good brokers. I wrote an article for BP about how to find lenders to use the BRRRR method with in fact:

https://www.biggerpockets.com/renewsblog/work-with-lenders-brrrr-method/

might be of help

Adding funds to HUD-1 is easy. Don't worry about the lender, just email the title attorney and tell them you're gonna do it. There aren't many in town and I've done this with all of them.

that said, get the lender lined up before you close to ensure you can refi out at the end. This is the mistake everyone makes and it's why TONS of people get the house and cant' finance afterwards. play your end game from the start. The banks you mentioned are big banks, I don't recommend that, keep digging ;)