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Updated almost 6 years ago,

User Stats

5
Posts
3
Votes
Joe Weaver
  • Newburgh, IN
3
Votes |
5
Posts

New member from Evansville, Indiana

Joe Weaver
  • Newburgh, IN
Posted

Short time lurker, first time poster here. Love the content and forums on BP. 

A little about myself, I have a background in sales and marketing (just moved to the tri-state area from Dallas last year), and I have decided to put my financial well being in my own hands. Got motivated by reading "Rich Dad Poor Dad" and "Cashflow Quadrant," and I have a decent amount of capital to get going. 

I have committed to investing in real estate and buying my first rental property this year. I would like to do the BRRRR strategy if possible, but at a minimum want to purchase a SFH buy and hold in my market.

I have networked and lined up most of my "team", now trying to establish a relationship with a local bank in town. 

The issue I have run into is with the banks, I can't find a portfolio lender that will do a 30 year commercial loan like the guys on the BP podcasts always talk about. I have tried a few of the local credit unions and smaller institutions to no avail (15 and 20 yrs are most common). Any other ideas? Am I missing something? Thanks!

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