New investor looking for lender recommendations in Des Moines

[Rachel Spinler]

Hi everyone! First time posting here on the BP forum. I am looking to purchase my first duplex in Des Moines, Iowa. The property is 2 bed 1 bath in each of the units and asking price is $110,000. Does anyone have any recommendations for local lenders in the area? I will be partnering with another investor but we will not have an LLC. Appreciate and advice/recommendations getting started as I still have a lot to learn!

[Becky Hiu]

Chris Coy at Union State Bank. We've 60+ units with him to date. Flexible, available, knowledgeable. Does 80% LTC/LTV, construction financing, competitive rates for the 5-year fixed, 25 amort schedule.

Others would include MidwestOne - publicly-traded Iowa bank that isn't too large, yet, Savings State Bank, Farmers. Some require larger deal sizes to be worth their time.