Getting Portfolio Lenders in another State

[Geoffrey Jones]

Ive come across a situation where it looks as if most portfolio lenders are only interested in doing business with me only if I live locally in the area. Most also will allow me to use their services if I have a business partner in the area. My question is.

How would I be able to structure a deal like this, where I am finding the deals myself, buying all cash and doing the repairs. If I were to get a partner in the area how would I compensate them for being a stand in guy/gal. It looks as if most portfolio lenders would need them to also guarantee the loan even if my credit and income are excellent.

I have found a few portfolio lenders that will work with me but again they are very few. In order to expand and acquire more properties I need to be utilizing multiple financial institutions to reach my goals. Correct me if I am wrong.

Is there a way around this? Also is there a way for me to actually be local in another state such as a virtual office or company registration in that state?

What strategies are out of state investors using today to accomplish this?