Is this for investment or owner occupied property?
I had the same problem Earlier this year. I set out on a mission to fund a purchase of 4 SFRS all at once and finally found funding.
First, I would recommend writing up a simple 1-2 page Intro letter, and include your experience, goals, etc. And even a business plan, or resume of typy have one.. Do you have previous landlord or real estate experience or education? Add that! List your team- attorney, cpa, agent, partner, mentors, etc. Also include any current property you own.
Second, put together a financial analysis on the property (tip:use the BP calculator) and include comps, rent, taxes, insurance, etc.
Third, include financials, tax returns, and all the other normal loan info that banks ask for in a nice orderly format.
Fourth, combine all this info together in a nice presentation folder.
Fifth, reach out to every loan officer at every bank you can find until you get a yes. Up front, ask about their underwriting guidelines and Yelm them your specific situation. And when you get a yes, keep searching for a second bank as a backup option. (You don't want to go through 3 weeks of hearing yeses only to have the underwriter or president not sign off, and then not have a plan B in the works. Ask me, I know. )
A Bonus tip, ask all the agents you know, and other investors for investor friendly small or local banks. Ask the banks of they do in -house loans. That's your best bet. And also ask everyone you talk to along the way if they know any private money lenders or individuals that would like to earn 4-8% interest on their investment "secured " by real estate.
-no legal advice.
Good luck!
