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Updated about 8 years ago on . Most recent reply

User Stats

133
Posts
43
Votes
Steven Mitchell
  • Investor
  • san antonio, TX
43
Votes |
133
Posts

looking for investor friendly bank, commercial loans on SFR

Steven Mitchell
  • Investor
  • san antonio, TX
Posted

Anyone have one they like? We are from out of state and would like someone local to take out commercial loans on our SFR portfolio.

Most Popular Reply

User Stats

379
Posts
130
Votes
Jackson Long
  • Investor
  • Memphis, TN
130
Votes |
379
Posts
Jackson Long
  • Investor
  • Memphis, TN
Replied

Steven I am going through this right now.  Here are my current findings:

Metropolitan

Landmark Community

Orion Federal Credit Union

And Angel Oak Bridge (actually in Georgia)

Are all good to talk to.

Then:

Paragon Bank

Tri State Bank of Memphis

First TN Bank

Suntrust

First South Bank

Community Bank Memphis

And Financial Federal Savings

All look like they might have programs- but have been flaky in communication.  This could be an actual bad sign- or could be like a lot of the Memphis real estate community where they are just so inundated with out of state tire kickers that they just deprioritize out of state folks.

Lastly:

Pinacle

West TN Credit Union

City of Memphis Credit Union

LG&W Federal Credit Union

Independent Bank

Agility Financial

And F&M Bank

Are all some combination of private credit union, do not lend to out of state, only lend in small locales, don't do commercial, and so on...

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