Matt Herbert
Small landlord (5 units) needs guidance choosing a new bank
I think it's time for me to choose a new bank. This brings a flurry of questions to my mind: which one? how to structure the accounts? commercial vs personal?
Here is my current situation. I have 5 single family rent...
Lynn Jacobsen
Finding a bank...
We currently have Wells Fargo and of course need to transfer money in significant amounts. Our issue is that we are overseas and need to do this stuff on line or at least on the telephone (I mistakenly thought that in...
Kang Thao
Just getting started... Big Bank vs Credit Union Bus. Account?
HELLO! We are in the process of closing on our very first multifamily, a 4plex, at the end of this month. It needs some work done in all the units, but we are excited non the less. Everything in REI is still new to...
Cameron C.
LLC Friend Local Lenders
Hey BP,
BACKGROUND: I currently live in the South Side of Pittsburgh, PA. Recently acquired my first SF rental (house hack) that cash flows $900/month via a 3% conventional with a pretty substantial loan balance. I h...
Alex Huang
BRRRR and Holding Properties in a LLC
I am having some problems with the BRRR strategy, particularly with having my first property in the name of a LLC.It seems that the banks in my area won't (can't?) refinance the property unless it is under my personal...
Ken Gilb
REI Friendly local bank in STL
I'm looking to establish a relationship and open accounts with a local Saint Louis bank. Does anyone have a recommendation? I currently only bank with USAA.
Liwen Gu
Good experience with big bank
I hear all the time from investors and real estate agents to stay away from the big banks and go with local lenders, and I just want to share my own personal experience that contradicts that advice.First of all, some ...
Nye Eddings
Finding Funds Frenzy-Mortgage Broker, Mortgage Banker, Credit Union, Small bank or Portfolio Lender
Morning BP!Every first time investor reads up on the best entity to approach when trying to find financing. Should one approach their big commercial bank that they've been banking with for years? Or that local small...
Melissa Kirchhoff
How the heck do personal loans work?
I feel so ignorant, but can someone explain this process to me?Is applying sort of like a condensed version of a mortgage process (tax, income verification, etc?) and then do you get something saying you are pre-quali...
Tyler Hubarth
HELOC to fund deals?
Anyone else out there using a HELOC on their primary residence to fund their REI? Both of my buy and hold deals were funded exclusively from my HELOC, which I then refinanced into a traditional mortgage. Because of fo...