Montgomery Alabama investor friendly lender

[Robert Hansen]

Hi,

I want to use Alabama (specifically Montgomery) as my 'cashflow' buy and hold market to invest in. The goal today is to have anywhere from 4 to 10 cashflowing doors in order to help finance my holdings in higher appreciating markets with lower cashflows. My current thought is to close the house using cash and within a couple of months finance around 50% of the ARV in either a 5/1 or 7/1 ARM or a fixed 10 to 15 year mortgage to help me fund additional purchases. If anyone on this thread has some recommendations to help me find an investor friendly loan officer that would be great.

Thanks in advance,

[Joseph Back]

@Robert Hansen Only 2 local banks I have found that are willing to do portfolio loans on residential rental properties in Montgomery are Troy Bank & Trust and CB&S Bank. The best option I have fond is to do the refinance with one of the new national rental property lenders. Lima One Capital had a great 30 year fixed rate product a few months back but stopped doing it after Covid hit. The only other one I know that is decent is CoreVest.