Local banks.

AJ Dicarlo Rate (broker and will be able to match with multiple lenders instead of a smaller bank or network)

Federal Reserve Bank of Chicago - Points of Interest (p. 6)Federal Reserve Bank of Chicago - ABCs of Figuring Interest (p. 2)Federal Reserve Bank of Richmond - The Federal Reserve Today (p. 14)Federal Reserve Bank of St.

I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?

this is the distinct different between being an actual lender like a bank .. and an investor in a fund.. two very separate transactions.. when you lend and receive collateral on the asset you get paid when it pays off or the borrower refinances etc. 

Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

@Jeffrey Bourque Are you planning to finance this with a local bank or credit union?

@Drew Sygit Trying to understand paying bank this loan rate is good idea or payoff principal early is a good idea.

In my land Timber days we just used bank LOC's but success in logging and creating substantial income allowed us to get those lines.

It links to our business bank account and our business credit card so come tax time, deductions should be easier.