Local Credit Union's in Minneapolis, MN Area

[Aaron Owen]

Hey Everybody!

As I've been doing my research and reading through posts here on the forums I have found that the following are the best banks and/or credit unions in the Minneapolis, MN area to work with.

• Sunrise banks
• Firefly credit union
• Anchor Bank
• TCF Bank
• Highland banks
• Drake bank
• Bridgewater bank
• US Bank
• Eagle Valley
• First American Bank

My investment strategy is to start out by house hacking a duplex/triplex in the Minneapolis area. I will have enough cash set aside in approx. 8-12 months to buy my first property. I plan on getting a FHA loan or if possible a 203k loan I know they can be extremely difficult to qualify for but I have a brother who is a licensed contractor and I work for a major construction company in the area I'm hoping that would make the process a little more easier. Since, I have some time between now and then I'm looking to establish a relationship with a portfolio lender and hopefully get more favorable terms or even just an easy lender to work with.

So given my situation what portfolio lender would everybody recommend in the Minneapolis area? 

[John Woodrich]

@Aaron Owen talk to @Tim Swierczek, he is a lender and also an investor.  He can make sure you get a loan product that works but because he is an investor he can steer you down the correct path on your first investment.

There is no "best bank".  My bank isn't on the list above and I would say I have a better bank but that largely relates to my track record and working with them for many years.  

My bank recently foreclosed on a house.  The same day they foreclosed I got an email from the president asking if I wanted the house, they weren't in the rehab business and knew I was. Soon I will be closing on a 0% down, 0% fee, one year interest only LOC to take ownership :)

See you all after tax season.