When it comes time to finance your turnkey rental, you have a choice of lenders. Just as if you were buying any other piece of real estate, you can shop around and try and find a lender that will work with you. But there’s a lot more to finding great lenders when you’re buying real estate investment properties. Not all lenders understand the investment type. Not all lenders lend in all areas.  And, too many lenders charge exorbitant fees for what they consider “unusual” real estate purchases. Don’t waste your valuable time trying to deal with lenders that don’t understand the turnkey rental investment model or try to take advantage of you. MartelTurnkey can introduce you to quality lenders that take the hassle out of borrowing for investing. Following are several reasons to use our lenders.

Introductions Are Made

 

When you sign a contract with MartelTurnkey, we introduce you to lenders that we’ve been working with for years. You’ll be introduced to a lender that lends in the region where your new turnkey rental is located. So your first challenge – finding a lender that lends locally – is already taken care of. Your second challenge is to find a lender that understands the business of turnkey rental investing. Our preferred lenders specialize in helping turnkey rental buyers acquire financing. They understand exactly how this investment model works. You won’t need to explain anything to them. They already know MartelTurnkey and they already know that you’re a valued customer who is to be treated with priority. 

 

Working With Our Turnkey Lenders Is More Efficient

 

It’s time consuming to shop around for lenders. It takes up even more of your time when you start having to create spreadsheets to compare offers from multiple lenders or need to explain why you’re buying a fifth property in the span of one year. 

 

When you work with a MartelTurnkey lender, no explanations are needed. As soon as the ink dries on your contract, you get an email introduction to one of our preferred lenders. They’ll then take the lead. They’ll tell you what you need to submit for the loan application. They’ll get all the property details straight from us so you don’t have to deal with that side of things. It will all be straightforward and efficient. Your application will be given priority treatment and you’ll hear back about your status very quickly. In addition, we are in constant regular contact with our lenders.  We’re on a first name basis with them. If there are any changes or modifications to any of the documentation, we know exactly who to go to in order to get things taken care of expeditiously.

 

Fees are More Reasonable 

 

Lenders make money on fees. Many lenders will try to penalize borrowers who “only” take on small loans. They do this by charging higher fees for the “inconvenience” of administering smaller loans. It’s not unusual to have a minimum fee of $2500.  Not with our lenders. Our lenders have extremely reasonable fees and they are more than happy to extend financing for smaller loans. They also don’t charge more just because an investor is taking out a smaller loan.

 

More Accurate Appraisals on Turnkey Rentals

 

Once the renovations are complete, the lender asks for an appraisal to confirm the value of the property. As you may know, appraisers vary considerably in terms of experience and qualifications. Our lenders have a stable of competent and fair local appraisers.  This is beneficial for both you and us. If you’re using a non-local lender, sometimes they end up searching online for an appraiser and just go with someone with whom they have no prior working relationship.  This can cause needless and frustrating delays, as well as duplication of work.

We do our best to operate our company like a well-oiled clock. And that includes making things run smoothly for our investors. We’ve established solid relationships with quality lenders with whom we entrust the care of our clients. These are all good reasons to use our lenders. If you have any questions about the lending process or about our turnkey rentals in general, please send us an email and we’ll get back to you right away!