All Forum Posts by: Benny Anand

http://nymag.com/daily/intelligencer/2017/08/ben-c...

Has anyone had experience with this group?  They claim to sell commercial real estate loan leads at an expensive price, and I am interested in joining their program, but don't have enough due diligence information about the group.

post renew

ALL UNITS are CURRENTLY RENTED (9 UNITS) and 7 GARAGES

PHOTOS of ALL THREE PROPERTIES (9 UNITS) and 7 GARAGES

Montgomery County, PA

Located around Lansdale area

Seeking buy & hold investors

Asking price - $1,000,000

Freddie Mac - Small Balance Loan (SBL)

The program is used primarily for refinance or acquisition of smaller sized Multifamily properties. The pricing terms and the non-recourse feature help this program to currently out-compete what the banks are offering.

• Loan size: $1 million to $5 million
• Multifamily building size: 5 or more units
• 5, 7 and 10 year terms available
• Up to 30-year amortization on all terms
• Up to 80% financing available
• Non recourse with standard carve outs
• Interest-only available
• Stepdown prepayment schedule available (YM better pricing)
• Debt coverage as low as 1.20
• Cash out equity available
• Quick closing execution of 45-60 days

Please send a direct message and let's discuss by phone if you are interested.

FHA 223(f) - MAP or LEAN Loan

The program takes time to put into place (6-8 months), but once there, the pricing terms are some of the most aggressive in the marketplace. 223(f) is designed for long-term hold investors of mid-to-large sized Multifamily and Healthcare (ALF / SNF) properties. Used primarily as refinance loan to implement long term debt. For acquistion - "Bridge-to-HUD" can be secured (even for distressed).

• Loan size: $3 million to $50 million
• Multifamily buildings - market rate or affordable
• Healthcare buildings - assisted living or skilled nursing
• Up to 35 year terms available
• Amortizations match the term (no balloon)
• Up to 90% financing available (depends on the deal)
• Non recourse with standard carve outs
• Stepdown prepayment schedule (no YM)
• Debt coverage as low as 1.11
• Cash out equity available
• Dollars available for rehab
• Larger than typical replacement reserves required

Please send a direct message and let's discuss by phone if you are interested.

Just learned that non-recourse financing is available for the acquisition at 65% LTV, which would then mean a larger investor equity infusion.

INTERESTED?  PLEASE CONTACT ME BY EMAIL - [email protected]

- 6 units MF on top of ground floor retail

-suburb of Philadelphia

-list price $995K, proposing an initial offer of $750K

-completed a purchase analysis model specific to this deal

Assumptions in the model:

• The closing costs have not been vetted - just assumed total closing costs using a local bank (existing relationship) should not exceed $44.5K
  • Basically using a conservative cushioned number for total closing costs - can refine model if deal moves forward
• My ownership stake is approx. 6% higher than my equity infusion because I will be managing the property
• Operating expenses have not been vetted - what's in there right now were provided from the seller
• Strategy on this deal is long term play with the real potential in 2-3 years, if new 100 unit apt building gets developed (article about new bldg can be provided)
  • Can provide map showing proximity of proposed 100 unit building 2 blocks away from this property
  • Potential comes through the commercial space - having nicely designed bar / restaurant (would not run that business, but rather find experienced partner, first person I would ask is the owner of a new restaurant down the street - which seems to be doing well)
  • Final point on strategy - keep the building afloat through the apartment revenue - keep bills paid - not much investor return initially - until the commercial income becomes the real money maker
• Can provide the listing and sellers pro forma on the property
• Pursuing non recourse financing but may resort to bank financing - if recourse happens then for per investor, will try for recourse only tied to partial loan amount (based on ownership share) vs full loan amount