Apply for a traditional bank refinance after 6-12 months5.

There are a few large buildings on the market owned by the same owner that are fully priced with no movement to little movement on sale price.When refinancing, the banks/appraisers usually undercut your value to be conservative.

All seemed fine for about the first 18 month, but then I got an emailed letter on Dec 23rd from the lender that we were in default (informational - unbeknownst to me the sponsor was hiding from the bank.)   

Then you put the sweat into this Boston property and as it appreciates you use this as the bank account to start buying or BRRRR'ing out of state.

For the past 3-4 months I am finding that the banks are paying prices that simply don't make sense.

there are a lot of non QM mortgages available that only look at bank statements.  

Last 30 days pay stubsLast 2 months bank statementsProperty Taxes, insurance, lease amounts, HOA statement, and current mortgage statement for each propertyI don't know that coming prepared will get you a better rate than you otherwise would have, but it will certainly help you get a more accurate rate because it will be based on more accurate information.

Hello, I'm seeking a mortgage on a property that was purchased in a recent sheriff sale, property located in Union City, NJ.I've been assured that that are local banks that will underwrite mortgages even on the basis of an external appraisal (can't get  an internal one because I can't get in the property yet).Any ideas on which these "local banks" may be? 

Are there any recommendations for private or smaller lenders who have lower rates than what banks are offering on investment loans?

As a former lawyer for national and regional banks, it's something I had to do hundreds --- if not thousand --- of times.