All Forum Posts by: Chris Cambridge

If you are expert, proven track record of leasing office space it may be your edge. Since you have no idea of the debt structure you will need that 50% (I hope there is liquidity after dp). Try to make offers where DSCR is 1 or better based on a hard money loan 10-12%.

We broker capital but what is the deal?

Go get some education. Shouldn't cost more than $1,500 for do it yourself (sorry $1,497).  

Need more details but anyway the idea is buy what's no there (the potential) and then pay to make it happen (the reality). You see that a lot in low cap rate environments. It is obviously under performing but you need to understand what 80%, 85%, 90% occupancy means to the value and the timeline to get there. Then justify your offer.

Keep it simple. Expect to come in with 30% down payment and 5% reserves. You can refi out once you tenant it with verified revenue and able to debt service 1.3. Your refi would not exceed 70-75% ARV so don't sell yourself inflated numbers.

Don't know the numbers but make sure you have 30% equity in the deal when you are ready to take out the note holder. There are some less than 12 month seasoning options but doing it right the first time makes it work.

P.S. And I don't mean the 30% equity in NYC that causes DSCR to be less than 1.25 because of low cap rates. Stress test your exit at 6.5-7%, 30 yr arm.

Explain the flags and scenario. Is it really the flags or are you making a high LTV request?

Those funds are out there but it must be compelling as hell for them to treat as first timer as a pro. Equity, location, deal size, opportunity.

@Chanie Blasberg This is a forum where people expect to get help but really? What sort of tire kicking behavior is this? I understand someone being fearful. Somethings do not deserve a warm fuzzy response but a swift kick in the rear end.

@Steve Kontos I have both bank and nonbank lenders that’s placing capital