Purchasing my first rental

[Sarah Wade]

This will be my first rental property , I need advice ,  should I get a loan from the bank ? If so I’m located in Florida what banks should I go to that will have less interests ? I personally heard private lenders are better but I don’t know any..  If you know a private lender , would you recommend one in Orlando/ Florida to help me ?

[Frank Wong]

Hi Sarah,

You want to go with a conventional loan. A private lender or HML will have very high-interest rates and fees. Go to your local bank Chase, Bank of America and start your pre-approval process there.