ASK MIKE MONDAYS - Michael, I am thinking of buying a $1 million apartment building and should I put on PERMANENT DEBT?
ASK MIKE MONDAYS - Michael, I am thinking of buying a $1 million apartment building and should I put on PERMANENT DEBT?
Michael gives an example on apartment loan structuring and what you should consider BEFORE you lock yourself in with a future large prepayment penalty. When you are buying your first apartment building and it qualifies for a long term Freddie Mac loan, you may want to consider additional financing options if you are thinking of selling within the next 5-7 years.
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Michael gives an example on apartment loan structuring and what you should consider BEFORE you lock yourself in with a future large prepayment penalty. When you are buying your first apartment building and it qualifies for a long term Freddie Mac loan, you may want to consider additional financing options if you are thinking of selling within the next 5-7 years.
Michael gives an example on apartment loan structuring and what you should consider BEFORE you lock yourself in with a future large prepayment penalty. When you are buying your first apartment building and it qualifies for a long term Freddie Mac loan, you may want to consider additional financing options if you are thinking of selling within the next 5-7 years.
Many apartments may have retail or office space included within an apartment structure. A small grocery store, a coffee shop, or a nail salon can be the typical retail store you may find attached to the apartment building. Mike explains what to look for when purchasing a mix-use property.
Many apartments may have retail or office space included within an apartment structure. A small grocery store, a coffee shop, or a nail salon can be the typical retail store you may find attached to the apartment building. Mike explains what to look for when purchasing a mix-use property.
ASKING and GETTING are two different things when dealing with a seller. Michael explains what critical financial and physical information you must ask the seller to produce before your earnest money is at risk. Make sure you download Michaelโs โDUE DILIGENCE CHECKLISTโ at the Old Capital Podcast website at OldCapitalPodcast.com. This CHECKLIST gives you the best breakdown of items you need to review.
ASKING and GETTING are two different things when dealing with a seller. Michael explains what critical financial and physical information you must ask the seller to produce before your earnest money is at risk. Make sure you download Michaelโs โDUE DILIGENCE CHECKLISTโ at the Old Capital Podcast website at OldCapitalPodcast.com. This CHECKLIST gives you the best breakdown of items you need to review.
Wellโฆ.you need to find deals and find money! Building relationships with brokers, equity investors, contract attorneys, lenders, physical engineers, & SEC attorney should be your first course of action. Some folks may use LOOPNET to find their first deal and that is OK, but most SERIOUS BUYERS contact listing agents in the market. Donโt be a jerkโฆthis is a small business and word will get around. Sound advice in any business. Michael Becker has purchased over 10,000 apartment units between...
Wellโฆ.you need to find deals and find money! Building relationships with brokers, equity investors, contract attorneys, lenders, physical engineers, & SEC attorney should be your first course of action. Some folks may use LOOPNET to find their first deal and that is OK, but most SERIOUS BUYERS contact listing agents in the market. Donโt be a jerkโฆthis is a small business and word will get around. Sound advice in any business. Michael Becker has purchased over 10,000 apartment units between...
Michael shares with you his thoughts on negotiating a potential purchase sales contract and what protection language you should or should not add into the terms of the transaction. Michael gives you the insight on what is happening today in apartment investing. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former โloaner- of moneyโ and now a โowner- of commercial real est...
Michael shares with you his thoughts on negotiating a potential purchase sales contract and what protection language you should or should not add into the terms of the transaction. Michael gives you the insight on what is happening today in apartment investing. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former โloaner- of moneyโ and now a โowner- of commercial real est...
IF you are a passive investor you want to review a realistic PROFORMA before you invest. Michael discusses line items on the operating statement such as rental rate growth, loss to lease, property tax step-up costs, and future labor costs. Are the assumptions from the SPONSOR too aggressive?
IF you are a passive investor you want to review a realistic PROFORMA before you invest. Michael discusses line items on the operating statement such as rental rate growth, loss to lease, property tax step-up costs, and future labor costs. Are the assumptions from the SPONSOR too aggressive?
It can be done. Mike explains the additional complexity and underwriting rules for foreign nationals to finance apartments in the US.
It can be done. Mike explains the additional complexity and underwriting rules for foreign nationals to finance apartments in the US.
Michael discusses the different reports that a management company should be providing to the managing member every month. Obviously, it is better to overly communicate with investors and partnerships with detailed monthly operating statements.
Michael discusses the different reports that a management company should be providing to the managing member every month. Obviously, it is better to overly communicate with investors and partnerships with detailed monthly operating statements.
After you have spent over 90+ days in the acquisition processโฆits time for you to actually own and operated your building. Michael discusses a PRE- and POST- apartment takeover strategy. If you self-manage or have a third party management team; a transition plan is critical for your immediate success.
After you have spent over 90+ days in the acquisition processโฆits time for you to actually own and operated your building. Michael discusses a PRE- and POST- apartment takeover strategy. If you self-manage or have a third party management team; a transition plan is critical for your immediate success.
A lender needs to understand the value of the collateral. Even though you paid for the appraisal, the appraiser is hired and works for the bank. They will not discuss value with the buyer until after they have completed their final report. If you meet the appraiser at the property and you mention that you are going to do some specific rehab; the appraiser will more than likely add that into their report. Soโฆbe careful in speaking to the appraiser, if you havenโt confirmed those improvements....
A lender needs to understand the value of the collateral. Even though you paid for the appraisal, the appraiser is hired and works for the bank. They will not discuss value with the buyer until after they have completed their final report. If you meet the appraiser at the property and you mention that you are going to do some specific rehab; the appraiser will more than likely add that into their report. Soโฆbe careful in speaking to the appraiser, if you havenโt confirmed those improvements....