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Updated almost 8 years ago on . Most recent reply

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Allan Smith
  • Developer
  • Nashville, TN
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Lender that wraps repairs into loan on a rental property?

Allan Smith
  • Developer
  • Nashville, TN
Posted

Would anyone here in the Nashville area recommend a lender / banker / mortgage broker that can wrap repairs into a rental? 

My partner is a high W-2 earner, so that won't be an issue.

Thanks!!

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Josh Braun
  • Investor
  • Nashville & Chattanooga, TN
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Josh Braun
  • Investor
  • Nashville & Chattanooga, TN
Replied

All senior loan officers I've worked with at the mentioned banks are good.  Key thing is to have your ducks in a row, by having a formal proposal put together and give to them in your initial conversation. Make sure the proposal has market comps, rent roll, rehab budget, scope of work, who is going to do the rehab and an up to date balance sheet and income statement. If you have this type of formal proposal put together, you will be way ahead of everyone else and closer to sealing the deal.

  • Josh Braun
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