Are you looking to invest in rental properties? Are you unsure where to start when it comes to borrowing rental property loans to finance your upcoming acquisitions?
At Jefferson Bank, our loan officers are experts in rental property loans and St. Louis real estate trends. We help both existing landlords and aspiring landlords to get rental property loans at competitive rates, and we’ll work with you to make sure that your new investment will be profitable.
Getting rental property loans can be complicated, especially if this is your first investment property. It can also pay off in a big way: it can give even a non-professional real estate investor a reliable source of income with limited risk. Using rental property loans to secure additional income can be a great alternative to starting a business, investing in the stock market, or other types of investments, especially for people who have existing skills in real estate marketing, property maintenance, and other associated skills.
For more information or to apply for rental property loans, give us a call at 314-621-0100 or come by one of our banks in St. Louis.
At Jefferson Bank, a real person answers your question or call, not a machine.
Tips for New Borrowers of Rental Property Loans
If this is the first time you have sought rental property loans, here are some tips to prepare you for success:
- Prepare a business plan: Renting out property is a business – providing a business plan that shows that you have a realistic strategy for how to get new tenants, maintain properties, and improve them will increase your chances of getting a better deal on rental property loans.
- Do your market research: Rental properties are valued differently than typical residential properties – especially in the case of apartment buildings. The value is based on market rents and comparable sales prices.
- Have a property improvement plan in place: Once you buy a property, the expenses don’t stop there. You have to plan for how to maintain and improve the property over time so that it remains competitive on the rental market. Showing this to your banker will help you to get a better deal.
Working with Jefferson Bank in St. Louis
At Jefferson Bank and Trust, one of our specialties is helping St. Louis area businesses get to their next stage of growth. Our bankers have substantial experience in providing rental property loans and support to landlords. We’ll evaluate your plans, assist you in reducing your expenses, assist you in getting great terms on equipment loans, and more.
Are you ready to apply for a rental property loan in St. Louis? Learn more by calling 314-621-0100 or come by one of our St. Louis bank locations today.