Where and how to find lenders?

[Vincent Dang]

Hi,

What are some of the best ways to find lenders?  Ideally, I'm looking for smaller banks or credit unions as they usually have lower rates.  Right now, I'm trying to call up the local ones and hoping they would do the type of loans that I need but it's quite time consuming.  Would like to get some ideas on how you find them.

Thanks!

[Patricia Steiner]

I'm not finding the lowest rates to be with the smaller banks/credit unions.  What I am finding are some super creative lenders - all with great rates - who have been solid partners for my clients. Many are brokers but others are lenders with big banks. Some of the smaller banks that have done financing for buyers of my clients' properties have actually been slow in processing and manufactured chaos that was far from needed/appreciated. My recommendation is to connect with an investor-focused realtor and seek their guidance. Don't attempt to "steal" their resources; all that time consuming calling that you've done is what we do as well as vet resources in licensing, production, and processing.  As a buyer, you don't pay commissions so build bench strength by adding a realtor with solid resources to your team.  Real estate investing is too complex and ever changing to go it alone...you simply cannot generate the volume to attract the best and most creative resources that a realtor/broker can.