All Forum Posts by: Brandon G.

A father passed away and the children have power of attorney for mother with dementia.  They are looking to get rid of a Wyndham time share.  The time share is fully paid for, if that makes a difference.  I have no idea what direction should be taken here.  I've heard of those programs that say they will "get rid of your timeshare."  What options are availble?

Thank you

Hello all,

I have a construction loan at 4.25%.  We are still in the construction process (almost finished) and the construction portion of the loan will end in April, at which point the loan will be finalized.  Since last year when we were approved for this loan and started making draws, rates seem to have gone down.  Is it possible to negotiate a lower rate in April when the loan in finalized, or am I locked in at the 4.25%?  If I am locked in, what would be my timeline or path to refinancing this new loan?  We're looking to cashflow this property, so a lower monthly payment would be the highest preference.

Thank you,

Brandon

Henry,  thank you very much for the information.  This has been very helpful. 

We won't have an on-site manager, but I would like to have the keypad connected to a computer that we will have on-site, so that we can have our self-storage software work with the gate so that when customers do not pay on time their access number does not work and we can have the gate turn on and off at certain business hours.  So, I don't think the keypad it self would need to be internet accessible, as we don't plan to have smart-phone entry, however the gate and keypad would ultimately be connected to a computer that would be connected to the internet.

I have a newly constructed self-storage facility.  We are wanting to install a fence and gate with a keypad, but there are some details I am unsure of.  I have an individual that has quoted the installation of the fence and gate, but not the software.  I had assumed that the installer of the gate would also be aware of the software side of how to operate the gate.  Is it typical that the gate installer will install the keypad and gate and run conduit, and leave the connections available, and then you contact a separate software company to wire up the computer and software to control it all?  We will be using the Uhaul software for management.  

Thank you for your input as I'm unsure of what order getting the gate/fence built and up and going should proceed.

OK, got it.  Thank you all for the response.

The purchase price of the property and the construction were rolled into one.  So in this case it would be 800,000 for land purchase and construction.  When I spoke to the bank she describe the "loan amount" as 700,000, with us paying 100,000.  I'm curious by her wording what that meant.  Do they typically open a bank account, and they would put 700,000 in it and I would put 100,000 in it?  Or wire them 100,000 and they put 800,000 in an account.  

Hello all,

I have a question about a commercial construction loan (In this instance, getting a loan to purchase land as well as build mini storage)

Let's say the loan amount is 800,000 and we are going to put down 100,000 as a down payment.  Does this mean at the closing of the loan I will wire them 100,000 and they will wire me 800,000, or does this mean I wire them 100,000 and they give me 700,000.

Thank you,

Thanks for the reply.  Yes, I have done a traffic and population analysis based upon existing units within a 6 mile radius.