I did all of my loans with small local banks in my area and was always happy with the rates and service.

@Tayvion Payton to get a better understanding of the loan products, it's best to have a conversation with a commercial loan officer at a local community bank or credit union.On commercial, the number one rule is a deal meeting their DSCR loan covenant, which is typically 1.2 to 1.25. 

All but one of the family members are on board, and we collectively own the majority, but it's 55% and the bank requires 60%.

I have also started a youtube channel (recently) to teach others how to GC and be profitable, youtube.com/@brady_morgan .My first piece of advice is not to shop banks until you have engineered plans.

Hi @Regina Story, I am having the same problem with Stessa, I have local banks that recently changed name and website and I am unable to link accounts.

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

ASSET BASED LENDINGNote: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank. 

I am guessing they probably raised $15-25M from investors for the deal, so while the bank would still be covered investors would appear to collect maybe 10-20 cents on the dollar if they were to liquidate.if that's the case then I don't see buying one year really does anything unless I am missing something ? 

I almost exclusively sell bank foreclosures for a large asset management company, and I also do a lot of marketing for wholesale deals.