All Forum Posts by: Jon S.

@Ryan Ellis

39 year? I didn’t know that 39 yrs was an option! What is the size of the loan?

@Mary Mitchell

Hopefully it goes well.

@Kris L.

My leases state something about the first $100, but I rarely use that clause, as I too worry that it discourages reporting of issues.

@Mary Mitchell

OMG! Now that’s a nightmare that no one wants or expects!!! At that claim amount I’m surprised the insurance didn’t try to contest their liability. I assume tenant belongings were ruined? Did their renters insurance cover their losses? Sounds like a real mess, but I guess once you go through that you’re battle tested and ready for most any unexpected issue!

@Wesley W.

Thanks for this tip! I sure would like a copy of your level one support documents. That’s a great idea. I’m not too proficient at marking up photos but it sounds like a skill worth learning.

@Jack Bobeck

Great info, thank you Jack! I do prefer 30 yr low interest loans but I agree that it is usually a POA to get approved. I try to do repeat business with the same lenders in order to reduce the POA factor :)

If you don’t mind sharing, I would love to hear what happened in 2010 that has made you swear off the banks.

@Jack Bobeck

Thanks Jack that’s reassuring that tmoney will be available. How do you define private equity? And where would I begin making those private equity relationships? I’ve always used commercial loans to refinance my Brrrr properties. I get a good rate but it resets after 5 years and balloons after 10 years. I’d like to do 30 yr fixed especially while rates are so low. That said, commercial funding in a downturn is probably less likely during a recession. Thanks

@Manny Cirino

Thanks Manny!

@Manny Cirino

How is institutional funds defined? It sounds like hard money won’t be available? My concern is that banks will tighten their criteria making it harder and more costly for smaller investors to get loans. Is that about right? What can small investors do to be more eligible for funding in a downward market?

@Yifan Zhang

I’m in Tampa Florida.

Please PM info, thanks.