All Forum Posts by: Bruce Petersen

Depends on how you set up your accounting, I always use accrual and never cash.

With accrual you "book" the income or expense the day it was incurred, not the day it was paid or received.

I created my own. 

It's basic; operating income - operating expenses then subtract principal and interest and capital reserves and that's your cash flow.  

Basic spread sheet stuff. 

@Account Closed

Lender direct, agency debt.

@Michael Le

Yep, love the green program, it's stuff I was already doing on all of my properties anyway.

@Brent Shryock

Agency

@Michael Le

Yep, it makes me rather competitive.

@Brent Shryock

Fixed.

I just got a quote on a 416 unit in Texas for 82 LTV, 4.10% and 30 year AM on a 7 year term.

Common terms for what I look at are usually 75-80 LTV and 30 year am's.

A major commercial appraiser will have no problem assigning a value, they will look at comps and financials. 

And to your main question, YES!   I would always want an appraisal even if your lender doesn't require it (they all will by the way) because what it you buy it then time to sell and your buyer gets it appraised and it won't, uh ohh. 

If you're worried about the cost associated with it, either you are being short sighted or the deal doesn't work if you can't afford the $2500-5000  

Just my thoughts. 

@Tj Hines

I'm in Texas