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Rookie Reply: What’s The Best Way to Find a Lender?
Description
This week’s question comes from Kaylee on the Real Estate Rookie Facebook Group. Kaylee is asking: When looking for a lender (specifically 203k) what is the best most effective way to find them? Do I need to find someone local? Am I overcomplicating?
Whether it’s a 203k loan, or any other loan, having a consistent and quality lender is incredibly important when building up your real estate portfolio. Ashley and Tony have both used a handful of lenders to fund their different types of deals.
Here are some suggestions:
- Start with local lenders, especially ones you have relationships with already
- Call or email all the banks in your area or the area you’re looking to buy in
- Tell loan officers your plan, they may have a loan that fits exactly what you need
- Even if a loan officer doesn’t have the right type of loan for you, keep up the relationship!
- Get referrals from other investors in your area
- And More!
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Links from the Show
Check the full show notes here: http://biggerpockets.com/rookie62
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