All Forum Posts by: Andrew H.

Hey Guys, I work for a $800M local credit union called Sun East. We are based out of Aston, PA and are really bullish on investment real estate. I primarily do commercial real estate financing, but also have the ability to finance residential investment properties as well (we aren't big on flips, but are great with cash-flowing with rentals...single-family dwellings, multi-famly, etc). For instance, we typically do investment properties on a 15 year term/30 year amortization, and the rate on something like that at this time is 6.75%. All of our commercial loans are held in-house for servicing throughout the life of the loan. Our geographic footprint to lend covers all DE, MD, NJ, and PA.

Feel free to reach out and I'll be glad to discuss any deals for you or your clients/contacts. My email is [email protected]. 

Andrew

Hey Guys, I work for a $800M local credit union called Sun East. We are based out of Aston, PA and are really bullish on investment real estate. I primarily do commercial real estate financing, but also have the ability to finance residential investment properties as well (we aren't big on flips, but are great with cash-flowing with rentals...single-family dwellings, multi-famly, etc). For instance, we typically do investment properties on a 15 year term/30 year amortization, and the rate on something like that at this time is 6.75%. All of our commercial loans are held in-house for servicing throughout the life of the loan. Our geographic footprint to lend covers all DE, MD, NJ, and PA.

Feel free to reach out and I'll be glad to discuss any deals for you or your clients/contacts. My email is [email protected]. 

Andrew

Albertinny, 

Give Dennis Hampton a call, he owns Cityview Builders; he lives in and the business is based out of Rock Hill. He did a full renovation for me in Charlotte and I was very happy with him. I can send you his info. 

Best, 
Andrew 

@Isiah Ferguson

It sounds like some of the rates you're being quoted are more in the "hard money" ballpark, as 8% is extremely high for today's market. I do some residential "buy and hold" financing on both single-family and multi-family properties, and the terms/ballpark rates that I see and do look like the following: 

- 5 year balloon/20 year amortization (as long as appraisal states the useful life is at least that long) 

- rates are in the 4.5% range. 

The one thing the 30 year amortization gives you is the lower payment, thus giving you stronger cash flow. If that's on the conventional mortgage side of the bank, there is a strong probability that loan is going to show on your personal credit report (limiting the amount of properties that you're going to be able to buy...usually that number is four). If you go the commercial loan route, the negative is the shorter am period and the fact that the interest rate is only locked for 5 years on the balloon. The positive to that is that you can borrow in your entity name, and the loans don't show up on your personal credit (you would need to show each property and loan associated with that property on your personal financial statement though, which a commercial banker would require annually). I have some investment properties that are buy and hold properties for long-term cash flow, and I've always gone the route of the commercial side...even though the rate is only fixed for the balloon period. It's nice to get established with one bank/banker that you can pick up the phone and call/email, plus they hold those loans in-house...so they service them for as long as you keep the loan there. 

Hope this explains the process a bit without leaving too many questions unanswered. 

Hey Guys, 

I know I'm a bit late to respond to this thread, but I'm fairly new on here and just ran across it. I work for a $1.5M community bank called Entegra, and we are extremely bullish on real estate. I primarily do commercial real estate financing, but also have the ability to finance residential investment properties as well (we aren't big on flips, but are great with cash-flowing with rentals...single-family dwellings, multi-famly, etc). For instance, I typically do investment properties on a 5 year balloon/20 year amortization, and the rate on something like that (at this time is 4.375%). I'm also a real estate investor myself, so am very familiar with what landlords need and look for with their financing. 

Feel free to reach out and I'll be glad to discuss any deals for you or your clients/contacts.