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Updated over 4 years ago on . Most recent reply

User Stats

27
Posts
5
Votes
John Lutkenhoff
  • Grand Rapids, MI
5
Votes |
27
Posts

Smaller W Michigan Portfolio Lenders/Suggestions

John Lutkenhoff
  • Grand Rapids, MI
Posted

Bigger Pockets community,

I'm a newer investor looking for portfolio lender suggestions in the west Michigan area to partner up with. My main goal is to hopefully find a lender that has some flexibility with the down payment percentage in exchange for adjustments to other terms of the loan. Ideally the down payment would be in the 10-15% range assuming the deal I can bring to the table is a secure investment in the eyes of both parties. I'm open ears to any and all suggestions or experiences, I'm curious if this scenario is possible, common, uncommon, or am I just dreaming with the numbers I've given? Thank you to everyone in advance

Most Popular Reply

User Stats

417
Posts
150
Votes
Dan Gamache
  • Lender
  • Boston, MA
150
Votes |
417
Posts
Dan Gamache
  • Lender
  • Boston, MA
Replied

@John Lutkenhoff most portfolio lenders I work with require 25% downpayment (minimum property value per house is 75K). I think you would need to find an individual lender or partner for the loan scenario you are seeking.

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