Local Bank/Banker to develop relationship with?

[John Brandenburg]

Hi Raleigh BP community!

This is my 1st post on BP and a little nervous about it... but I hope I'm not asking a stupid question.  I was hoping someone would give me their advice about finding a local bank/banker to work with.   I am planning to build a longer term buy-hold investment portfolio in the area and think it would be helpful to have that relationship in the future..  

I moved to the area (Cary) about 2 years ago. About 1.5 years ago, I purchase a house in Apex at Auction and have finally finished rehabbing it and have had it rented since Aug. I would like to pull some equity out of it as part of the BRRR strategy. It was purchased with cash and all renovations were paid for as we went so it is free and clear. Since it is the first of more I hope to do in the future, I would like to start developing a relationship with some local banks. I'm temped to walk into the nearest WellsFargo where I have existing bank accounts but it think this might be a good opportunity to start a relationship a local bank for future financing.

Is this a good idea or should I just use one of the big banks and shop around?

I would appreciate any thoughts on this and recommendations.  Thank you!

John

[Walter Ciucevich]

John,
No experience with this as I’m just now pursuing our first flip, but I read somewhere that you can search deeds for recently sold homes in your area, make note of the mortgage providers and see if any local banks are popping up more than once in your area. Hope this helps!