Any other "private equity" type lenders out there?
Hello,
I am trying to refinance 2 properties. One is a duplex in Pahrump, NV, the other one a single family in Fort Mohave, AZ. Both properties have tenants, are cash flowing, and somewhat seasoned (6 months). The loan amounts on both are around $100k (one slightly above and one slightly below).
I am looking for a 30y fixed type financing such as the "single asset loans" offered by niche lenders in the single family rental property space, people like B2RFinance/Dwell and Colony Capital who both offer simple 30y fixed loans on tenanted properties in the 7% range.
Unfortunately, my properties are somewhat outside of the major MSA (which would be Las Vegas), so Colony will not lend on either of them, and B2R will do the property in Pahrump, but only with a 60% LTV.
I was wondering if there are any other similar lenders out there that I could talk to? I'm waiting for a reply from Firstkey, but last time I asked they weren't lending in these states. I've also discovered LendingOne (Crestar) on BP, but they do not lend in these states either.
Any suggestions would be welcome. Note that I am not looking for short term hard money financing, but long term 30y fixed financing.
And if anyone will close this in a Series LLC, that's a bonus (B2R and Colony both won't do that).
Thank you!
Jean