Buying Multiple FIG Properties in Multiple StatesApr 13, 2021
- What if I want to buy multiple properties with FIG in multiple states?
- How does that work?
This is something that happens pretty often. At the time of writing this, Lane Aldrich (our preferred lender) has around 35 different investor clients who are building with FIG in multiple states. All of it runs through his office.
Lane oversees all of the pre-approvals for every FIG development in each state that we build in. As part of that, if you want to make multiple acquisitions, Lane can do a review to make sure that you have the financing eligibility to do that.
The Fourplex Investment Group likes to work with local construction lending partners in all of the metros we build in. We have found that their interest rates are better than some of the larger banks and they offer better customer service.
Those lenders like the idea of coming in and financing communities that offer (in some cases) more affordable living. Either that or it aids a niche or demographic that they're aiming for in their communities.
So our preferred lender does your pre-approval review and then will submit your construction loans to the construction lender who's overseeing the project in that metro. This will apply in Utah, Idaho, Arizona, Texas, or any states that FIG moves to in the coming years.
Your lender will also work on keeping your pre-approval/documents up to date so that all financials are current.