All Forum Posts by: Kyle Charles

@Ryan O'Mara im definitely interested in that info for my mix use property that is currently going through a gut rehab

@Igor Messano Dime bank was one of the rear banks that services mix use loans but I'm not sure if the amount of time was longer than 19 years

Anyone know the pros and cons to obtaining a construction loan from a bank vs private lender?

I'm in the process of searching for a General Contractor in the Tri State area... What's the best ways of researching their track records in regards to professionalism, tardiness and accuracy?

@Tim Milazzo

Q?: What about if someone with a clear and free mix-use property needed a construction loan with a stipend to pay the interest rate and additional expenses... How expensive will that ultimately be if they needed the the term to be 2-3years?

The property is in complete need of renovation. A structural engineer from the buildings department claims its strong enough to build on...

Im not sure how disclosing the location (further than Brooklyn NY) helps with this question.

Will do, Thanks!!

Good Day,
I inherented commercial real estate in Brooklyn NY that is in desperate need of renovation in order to generate a monthly income of $30k... I'm currently low on personal funds but the property has nearly $3 million in equity. I was told that in order to utilize any of the building's equity, i would need to give a 8-10% down payment on the desired loan amount... was thinking about maybe refinancing my primary home to make the necessary down payment... is there a better alternative to obtaining funds for this project?

Good Day,
i need to put together a business plan to apply for a construction loan for a commercial real estate property... After extensive research I learned that the business plan is only as good as the projections displayed in the proforma.

Which professionals deal with creating a proforma ?