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Commercial Loan Blog

September 17, 2014

Last week’s blog had Part 1 on How to Submit Your Loan Information for an Apartment Loan. It started out with explaining that the process involves more than just sending in some information as if you were completing a form. It actually involves sending in information for a presentation. The file you send in has a major purpose of selling a lender on why they should want to give you a loan on your property.

In last week’s article Part 1, we covered the area of sending in good interior and exterior photos of your property – photos that honestly represent your... Read More

September 12, 2014

If you want to become a landlord, you need to understand the concept of apartment building mortgages. These are commercial real estate investments that generate rental income for the proprietor. To get the lowest rate apartment loans, here is some essential information that every investor should know.

Commercial real estate mortgages are either offered as adjustable or fixed rate of interest. The fixed rate option is considered more beneficial as rates are still historically low.   However adjustable rates are also historically very low tied into the 30 day... Read More

September 09, 2014

Some investors think that when they submit their loan information on a property for a multifamily loan, it’s just about getting the information submitted and that’s it.

Nothing could be further from the truth. When you submit information on the property and information on your finances, it needs to be prepared by you in a way that makes for an attractive presentation.

The commercial loan brokers in a commercial loan company have to sell your file to a prospective lender. The file has to be presented in such a way that it is attractive to the lender... Read More

September 05, 2014

Apartment loan rates for properties that have five units or more are going to run about one percent higher than conventional rates on single family properties. A potential buyer will first need to determine the kind of funding that might be available. The best programs today are usually obtained from what is called agency loans – Fannie Mae, Freddie Mac, and FHA. Many institutions provide financing for real estate investors, but some offer better apartment loan rates than others. You should also check with mortgage brokers that specialize in commercial real estate... Read More

August 19, 2014

It takes putting the customer in your mind’s eye as the most important part of your business. Yes, the customer comes first when it comes to running a multifamily loan business and commercial loan business.

Our attitude needs to be, “How can it be any other way?” Either you are for the customer or you are not, because if you are compromising your customer service, you are not very much for the customer. At ApartmentLoanStore.com, a division of Business Loan Store, we are very proud of our A+ Better Business Bureau rating.

One thing we do to show great... Read More

August 13, 2014

One of the questions you will be asked in inquiring about getting an apartment loan is how much experience you have in apartment complex ownership. For many types of situations involving multifamily loans, you are required to have experience in multifamily ownership. In some multifamily loan situations you are not required to have experience in multifamily ownership.

First, it’s important to know what the definition of “experience” is in multifamily property ownership. The definition is that you currently own one or more multifamily properties of 5 or more... Read More

August 5, 2014

The answer is no. Why?

  • Dishonest loan source representatives will give you a lower rate to hook you in to work with them. If they cannot honor that rate, they will say, “Well, rates went up.” They will think you don’t know the difference and bank on their dishonesty at your expense.
  • Also, when you find one dishonesty in a loan source representative, other dishonesties tend to be connected like strong magnets clung together. Thus, the dishonest loan source representative in the above example may also not deliver on the promise to get... Read More

    July 29, 2014

    Aesop’s Fable – The Tortoise and the Hare was written thousands of years ago. It has stood the test of time and we all know the ending: the tortoise beats the hare. Believe it or not, this is a perfect analogy for winning in the arena of getting commercial properties and commercial apartment loans.

    Why does the tortoise beat the hare? Because if you apply this fable to life, the fable is not about one race, but many.

    Let’s look at the example of how people handle their finances in acquiring homes, cars, computers, vacations, etc. Each acquisition is a... Read More

    July 23, 2014

    The question, “Are Bridge Apartment Loans Expensive” is a very good and important question. Why? Because if you do not have strong knowledge and strong experience getting a bridge loan, you could lose a lot of money, lose a lot of time, and gain extreme stress.

    If you are very knowledgeable and have much experience in purchasing bridge apartment loans, you have the ability to make good money, save time, and have a positive bridge apartment loan experience.

    Bridge apartment loans and other types of bridge commercial loans are an advanced loan strategy and... Read More

    July 15, 2014

    This applies strongly to the experienced apartment complex investor as well as the inexperienced apartment complex investor.

    You may ask why this applies strongly to the experienced apartment complex investor.

    The answer is simple and is best presented in the story of what many commercial lenders experience: The experienced investor applies for a commercial mortgage and is declined because of not having enough cash to do the loan.

    This experienced apartment complex investor, owning quite a few apartment complexes, has spread himself too thin... Read More

    July 8, 2014

    The answer is that it depends.

    There are two factors in answering this question correctly:

    Factor One – The banker decides if you have enough experience to get an apartment loan.

    Factor Two – You decide.

    Here’s an example of where factor two comes into play: Let’s say that you have no experience in ownership of multifamily properties, yet you have great wealth. The bank decides there is very little risk in lending the money to you because of your wealth. You end up purchasing a 10 unit apartment building.

    But, because of your lack of... Read More

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