Iowa portfolio lenders??

[David McAlexander]

Anyone know of any portfolio lenders in Iowa and can share some experience in using the specific lender?

I have called every single credit union/small town bank/etc. that I can find and talked with their personal and commercial agents and it doesn't seem like anyone is offering this and a portfolio lender would potentially fit this specific deal I'm looking at perfectly based on my research.

I appreciate any and all help anyone can give!!

[Matt Fisher]

You're probably doing this in the wrong order.  IME one of the best moves I ever made was sit down with a lender and my business plan and talked about my options RE their loan products/terms.  Then you have the bounds of what works for them and they know you're going to be coming at them with something that fits.  

Which city is the property in? I suspect most of the good ones in Des Moines would work in Warren Co... If your smaller banks aren't on board, what did they say about why they wouldn't do it? Is it in need of major repairs? Do you have confidence in your numbers (rehab cost, timeline, rents, ARV/Comps)?