All Forum Posts by: Greg Heden

Thanks Justin-

I'll hedge on the side of caution and see if those numbers validate the investment.

I am interested in building a STR (New Build Home) in Puerto Penasco, Mexico. Specifically, Playa Encanto. I am in the process of running through the numbers to see how this will pencil out and need the average vacancy and average rental rate. I searched Air B&B and VRBO but only came always with a date specific rate that seems to be highly dependent on demand (difficult to ascertain annual average) and no info on vacancy, what am I missing? I have been on Air DNA but the info is locked out unless subscribed. Thanks so much!

Got it.  Thx-

I wasn't sure they were interested since their was no solicitation. Left a message for one and never heard back.  I'll try again....

Thanks for the invite.  I bought them all as shell properties and designed/built-out the interiors.  Also, have updates over the years.  i do intend to keep for the foreseeable future since i utilize a portion of the properties in my business. Any suggestions on CS business to get an idea?  Thanks Again!

Ok, is this something your company can do?

I am looking at a pretty big tax bill FYE 2022 and really could use some extra depreciation.  Open to acquiring some more investment property,  but unlikely before end of year.   Can I or does it make financial sense to do a cost segregation study on the commercial office buildings that I have owned for 15-17 years? Appreciate any direction on this.  

Thanks for the feedback everyone.  @Ryan Pubins The prepayment is in the loan docs, how can this be mitigated due to a rate reset? This was a 20 year note resetting every five years.

It seems like the best option is to refinance into a new portfolio loan. My current rate is set to adjust in April 2023 to the current 5 year treasury plus 2%, it is a bit lower than I stated earlier. Existing loan is 2.4M, looking to pull 1.5M out with a new loan of 3.9.New LTV would be in the 60's depending on appraisals. Original lender is not interested in the deal but my business bank has offered me a 10 year fixed/25AM, 10 year swap+2.5%,3-2-1 prepay, and 1/4pt orig. Thinking the added liquidity and controlling the interest rate risk are very appealing. All thoughts or recommendations welcome!

I have several commercial office buildings(6) that I refinanced in 2018 with a portfolio loan. This loan is about (5) years into a (10) year pre payment penalty of 10%, carries a current rate of 4.76%, adjusts next April (5 year treasury + 2.76%, then static for the next 5 years).  I would like to tap the over 50% equity position without a  refi.   I have significant positive cash flow, have owned the majority of properties for over 10 years, and have excellent credit.  What options would you suggest? What type of terms/rates could I anticipate?  I do not need the cash, just looking to put it to work.  Thx in advance.

Thanks for all your reply's. I am with you on conserving my cash position but wasn't keen on the 18K in additional fees to get it in place. What about putting in place a HELOC on an existing portfolio loan I currently have? I'm siting at about a 40% LTV. Have a ton of trapped equity I would love to access. The properties under this loan have tremendous cash flow.