Hi everyone, I'm an investor that has filled up all my conventional loan spots and I have more properties that I have purchased in cash, rehabbed, and looking to pull my money out. 

Local relationships are good, but conventional lenders have the same line of products...the creative lenders will have a very different portfolio of products...the product you need may not be offered by local lenders in your area.Lenders have zero influence on the deal itself outside of what an independent appraiser/inspector relays to them...local knowledge of markets is not in play at all.

StephenHI Stephen,Most conventional lenders will allow 1 30 day late within 12 months but not 60 day late and if you have multiple 30's you generally have to wait 12+ months to re-apply.There are other loan products that are called non QM or non qualified mortgages that might entertain your scenario.

I bought this property with a 3% down conventional loan in October 2019.

I bought this property with a 3% down conventional loan in October 2019.

Typically, a conventional loan provides the best terms...

He is asking me to fix that counter top wooden swell.

PMI removal on Conventional loan bought in February 2019 for $400K but refinanced back in Dec 2020 which than appraised for $430K.

@David M. is correct about not being able to get a conventional loan within an LLC and the rates being in the 4's and 5's for commercial. 

Most Hard money lenders are going to want 1st lien position and even if everything breaks right and a lender will take second position, a 40k loan amount is so small it eliminates a ton of options- An Asset based Lender at 75% to 80% LTV is your best option if you can not get conventional funding