Results for ‘Debt’ category

A pretty large appraisal discrepancy

Apologies for the lack of posts these last couple of days. Today, I got word that an appraisal hit at the contract on price ($850,000) on a deal one of our agents is working on. That wouldn’t be such a big deal, except that another appraiser for a different bank recently appraised the exact same

Progress on the refi front

On Friday, a loan broker who reads this blog secured for us a letter of intent (LOI) from a bank for a refi of a project we just stabilized. We’re all-into the deal for just under $2.8MM and the LOI calls for the bank to loan us that amount via a cash-out refinancing. Now, going

What’s going on today

Just in case anyone thinks what we do is glamorous, thought I’d give you guys a sense for what I’m working on today. Am working on securing four different loans: Refi of a stabilized property so we can return ~70-80% of the capital invested to our investors Two bridge / construction loans One line of credit

An irritating refinancing issue

Have just begun the process of refinancing 201 N Ave 55, a 12 unit property we renovated and recently stabilized. Thought I’d share with you an irritating issue I’m running into, so that you aren’t surprised when it happens to you. Let me begin by giving you some sample numbers. These aren’t actuals for the

From whom should I borrow?

(Sorry for the obnoxious headline… my inner grammarian wouldn’t allow me to end a headline with a preposition.) Had a friend call me today asking that simple question. Turns out a broker has been pushing her to use a particular loan broker and my friend wanted to know if that was good advice or not. So, without

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