Where is the best place for a new real estate investor to apply for commercial loans? There are many banks and online lenders offering commercial loans, so out of the thousands of options, where is the best place to start? I have read many books, but none seem to be updated with the current options the internet provides. If someone could recommend a good book on commercial real estate financing, that’d be great too. But my main question would be, where is the best place for a new commercial real estate investor to get a loan (for real property, not a business loan)? Thanks.
Go to a small bank where you are a person not another number. Small banks have money to lend too and you can appeal to someone as a person instead of getting a corporate trained banker who doesn’t care. You are trying to get someone to take a chance on you. This is the final quarter of the year and some banks are not making loans during this quarter. If you are in Texas I would recommend banks like Ironstone, Sovereign or First State Bank. Look them up to get a better idea of what I mean.