Lansing Area Investment

[Heather Burt]

I now own 3 rental homes in the Lansing area. I bought all 3 as foreclosures in 2020 and since they are all now rented, I will be pursuing purchasing properties in the Downtown, REOTOWN and Greater Lansing area. My ROI is low since all my money is still in these homes, but my cash flow is fantastic. I happen to be quite excited about investing in Downtown Lansing as I think it is hugely undervalued.

That said, my post is regarding additional loan money for distressed properties in Lansing.  I really enjoy the rehab process and am not at all put-off over buying distressed homes or multiplexes.  I have funding and PreApproval with Conventional Funding for 2 additional loans (have already made offers on the properties - 6 properties actually).  The 3 initial properties I bought in 2020 were bought outright and funded with my own money - so now I want to get my invested money out of these houses but cannot get money out of these 3 homes with a Conventional Loan.  My bank's Business Loan area will not lend me money because the multiplexes I am investing in do not have the requisite 10 units. 

Are there any portfolio banks in Mid-Michigan?  I have great credit and a great financial history with no dodgy areas - but I am heading into unchartered territory here (for me that is). I am looking to advance my investments in the Greater Lansing area and have the equity to do it - just need a little info to start down that path.

Thanks in advance for any information or advise given!  I am a real estate investment sponge right now!