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Commercial Loan Blog

Published March 29, 2012 

Apartment Loan Store and Business Loan Store are proud to announce that we are launching an upcoming Web TV program to help educate you in becoming increasingly successful in your acquisition of apartment loans. Terry Painter (President) and Bruce Painter (Director of Marketing) will be co-running the Web TV program. As a company we put a strong emphasis on education and keeping you informed. Knowledge is pivotal to success and power.

And importantly, knowledge is also strongly connected to leadership. Those who have the most knowledge, especially... Read More

Published March 23, 2012

Last week’s “How a Great Loan Provider Looks After You” covered what an apartment loan provider does to make sure they have quality loans to offer you. Most importantly, these providers do careful due diligence to see that the loan providers they pick are reputable companies that operate with honesty and integrity.

In this post, we look at another important factor important in knowing that your loan provider looks after you: They keep up with the changes going on in the field, especially changes in the economic loan climate.

Why is it so... Read More

Published March 16, 2012

In a couple of recent posts, I’ve shared with you tips on how to do some due diligence on providers of apartment loans. Today, I’m going to share with you how a great apartment loan provider looks after you to make sure they have quality loans to offer you.

First and foremost, such providers will do careful due diligence to check that the loan providers they select are reputable companies that operate with integrity. At Apartment Loan Store and Business Loan Store, when we locate a potential new loan source, we ask for testimonials, and we talk with... Read More

Published March 12, 2012

If you are in need of a multifamily loan to refinance your apartment building or to purchase an apartment building of five units or more, what lending sources are available to you in America today? Which are the best? Some of the available loan sources are the corner commercial bank, credit unions, regional banks, national bank commercial divisions (such as Wells Fargo Commercial and Chase Commercial), Fannie Mae, Freddie Mac, FHA, real estate investment trusts, insurance companies, hedge funds and private funds.

So which are the best? Well, let’s... Read More

Published March 3, 2012

Do you know why it is important to get testimonials from lenders of apartment loans?

The answer is that it comes down to trust. To take a little bit of time to discover if your apartment loan provider is worth your trust, is an investment that can save you time, finances, and freedom from aggravation.

Virtually all of us have experienced situations in which we did not do our due diligence to see if a person or organization is trustworthy. The negative consequences can be pretty large if we don’t exercize the ability for others to earn our trust... Read More

Published February 25, 2012 

In the first part of “Best Commercial Loan Providers,” we covered that it is important to do well at choosing a good commercial loan provider to work with in acquiring apartment loans. We also gave an example of what can happen when you choose an incompetent loan provider. We gave an example of an investor losing the purchase contract on an apartment building because of the inexperience of the lender.

And we covered three qualities that are important in a good if not excellent commercial loan provider: Experience level of the commercial loan... Read More

Published February 18, 2012

Last week, in the first part of “Best Commercial Loan Providers,” we covered some reasons it is important to choose a good commercial loan provider to work with in acquiring apartment loans. We also gave an example of what can happen when you choose an incompetent loan provider. We gave an example of an investor losing the purchase contract on an apartment building due to the inexperience of the lender.

We also shared three qualities that are important in choosing a good if not excellent commercial loan provider: 1. The loan broker has quite a few... Read More

Published February 17, 2012

If you are considering buying a commercial property as an investment and obtaining commercial financing, why not choose a commercial property type that will give you a much greater chance for success and also be easier to finance?

Let’s get right to the point. Having been a top producer of commercial loans for over 14 years, I can tell you that there are two commercial properties at the top of this food chain for obtaining commercial financing. They are apartment buildings and self-storage (also called mini-storage) units.

Why?

... Read More

Published February 11, 2012

It is very important that you choose a good commercial loan broker to work with in acquiring an apartment loan.

Here is an example of what can happen when you choose an inexperienced commercial loan broker to help you with your apartment loan: You sign a purchase agreement – you have 60 days to close – and you need a loan source that will complete the apartment loan in 60 days. You are given a great rate by a loan broker; it is far below every other loan broker’s rate you have been given. You are assured by this loan broker that he can do the loan... Read More

Published February 11, 2012

If you have recently been turned down by your bank for a commercial real estate loan, don’t take it personally. Many banks today are simply not making commercial real estate loans to anyone. In most cases this is not because they do not have the money, but because they already have too much commercial real estate on their books, or because they want to play it safe and make less risky loans.

In September 2011, I brought two of my co-workers with me to meet with a group from Bank of America in San Francisco. They were interested in referring... Read More

Published February 4, 2012

The last two weeks, we covered part one through three of “The Borrowers Strengths are Most Important to Qualify for an Apartment Loan.” In getting an apartment loan, we covered strengths needed. They are being strong in credit scores, liquidity, net worth, and a lender may require that you have multifamily experience (ownership of a multifamily complex of five or more units) to get an apartment loan.

In the first part, one credit score requirement we covered is that as a general rule, your credit scores need to be 680 or higher. In part two, one... Read More

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