Asset Based Lenders Under 50k??

[Christian Rodriguez]

Hello everyone I am in need of some help. I currently own 2 sfr that should appraise around 60k each. One rents for $1,000 and the other $1,200. I have a 3rd property I want to purchase for $43,000 that rents for $1,100 but I want to either purchase with a 30 year loan in my LLC or refinance my two other properties to purchase this 3rd one in cash. The issue I am having is I can't find a lender that will do it because it does not match their minimum loan requirement. Most lenders I am running into need a 75k appraisal which I fall short of. I heard of cross collateralization but I am not to sure how that works exactly. Would this be a good option?

[Andrew Syrios]

We've been able to get community banks to lend on such properties, although we've done in packages. If you can put a few together (preferably with a more expensive property although not necessarily) it will go a long way.