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
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).