Credit unions and portfolio lenders for out of state investors

[Patrick Britton]

Any brilliant ideas on how to get in with a credit union when I live thousands of miles away?  I would like to invest in Ohio, for instance but need a portfolio lender given the size of the loan(s) (under $40k).  

[John Warren]

@Patrick Britton I am a huge fan of local banks, and would recommend simply calling every local bank in the area and pitching the loan to them. I did this with an apartment building where i wanted to use a seller second mortgage in a new market, and I found 3 banks out of 10 that would do something that creative. I am sure you will find the same thing if you call a bunch of local banks. Try to find ones that have only a handful of branches, and then try to talk to their senior VP of commercial lending (or whatever they call that position).