All Forum Posts by: John Brees

@Scott Hensley, congratulations! The one thing I learned recently and was happy I worked through it before closing was insurance. I also bought a slightly large MF out of state and the proforma, T12 and brokers all said the insurance number was good. My first 3-4 quotes were over double that, on a smaller deal those impacts can really throw off your margins. I imagine you have that covered but shop during your due diligence so you can get a solid price with appropriate coverages best of luck.

@Chris Virgil-Stone, I closed a deal the day before thanksgiving that was just over the 500k loan amount. As some have mentioned it was 25 years and was at 5.625%. This was more of a regional bank that I had a relationship with. I’ve had better luck with the local banks that I can articulate the deal to. Best of luck,