Anyone know commercial lenders in MI that lend below $500k?
Anyone know lenders or commercial loan brokers in MI that would lend below $500k on multi family? Most minimum loan amount I am seeing are $500k and their are very few credit unions/local banks in the area. Any other advise on how to finance these types of  properties would also be greatly appreciated.
[{"id": "gczyrzt", "text": "Credit Unions.  ELGA does.", "replies": [{"id": "gd00aah", "text": "Thanks will check them out!", "replies": [], "depth": 2}], "depth": 1}, {"id": "gczz9r3", "text": "Regional banks will.", "replies": [{"id": "gd00dm4", "text": "Thanks for the advice!", "replies": [], "depth": 2}], "depth": 1}, {"id": "gd0281m", "text": "Literally go on google maps and search bank.  Ignore everyone thats a public national company and call everyone else.", "replies": [{"id": "gd073ph", "text": "Will do, thanks!", "replies": [{"id": "gd087xl", "text": "If you havent yet, you should make a lending packet.  This should have basic info on the property like an income statement, unit info, rent roll etc.   Include a cover about you and what you want (id suggest emphasizing you are an investor looking to develop a relationship with a bank for this purchase, future ones, and operations/deposit accounts.\n\nThat way you look like you have your shit together and you dont have to spend a ton of time on one bank.  Just spam it out and find out who is thirsty", "replies": [], "depth": 3}, {"id": "gd0ek75", "text": "Similar strategy: go to the state website and find the list of state chartered banks and call each bank has a branch in your county.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gd0egri", "text": "East Lansing, $430k, 2.99%: [https://www.stacksource.com/financings/coolidge-road-duplexes](https://www.stacksource.com/financings/coolidge-road-duplexes)\n\nSaginaw, $307k, 3.75% cash out: [https://www.stacksource.com/financings/mason-street-apartments](https://www.stacksource.com/financings/mason-street-apartments)\n\nGarden City, $218k, 3.9%, 10 year fixed: [https://www.stacksource.com/financings/pardo-street-apartments](https://www.stacksource.com/financings/pardo-street-apartments)\n\nPinckney, $832k, 2.99%: [https://www.stacksource.com/financings/pinckney-apartments](https://www.stacksource.com/financings/pinckney-apartments)\n\nLet me know if you'd like to skip the BS about calling a bunch of banks that will waste your time. We're here.", "replies": [{"id": "gd0g014", "text": "Great response", "replies": [{"id": "gd11n68", "text": "Seriously. Throw this guy some fee. Serious value-add", "replies": [{"id": "gd3bsfm", "text": "If I was op id be buying this guy lunch today", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gd2elek", "text": "Yes. \n\nI work with brokers that lend on multifamily below that amount.  In fact, there are lenders who specialize in multifamily rather than other commercial assets, who are lending at lower minimums.  It depends on how many units though.\n\nFeel free to reach out if you are interested in working with me - [Sarah@YallaFundingSolutions.com](mailto:Sarah@YallaFundingSolutions.com).\n\n\\- Sarah\n\n[www.YallaFundingSolutions.com](https://www.YallaFundingSolutions.com)", "replies": [], "depth": 1}, {"id": "geg782n", "text": "Not sure if you're still looking around, but we service a few lenders that will lend on stabilized multifamily of this size. Feel free to PM and I can share my contact information with you.", "replies": [], "depth": 1}, {"id": "gfcs0x3", "text": "Hello I\u2019m a broker and one of my financial sources minimum is 125k with 20% down.", "replies": [], "depth": 1}]