All Forum Posts by: Paul Khazansky

No takers?

detailed floorplan that I can then submit to a designer

Hey guys,

I'm in the process of purchasing a house in DC/Chevy Chase. Can anyone recommend a person who can measure the exact dimensions of the house, and then share PDF files with me?  

Much appreciated!

-Paul

I can recommend a few conventional lenders; PM for their info. 

A lot of you are saying that "RV park is very labor-intensive".  Does it mean that it is very hard to be an absentee owner, and have one of the residents be the maintenance guy?  I'm talking about 100 unit community, with the owner residing far, far away.

We would lend to Delaware providing that the loan amount is at least $250k (would go down to $125k in MD, DC, and VA).

Just use excel.   You would be crazy to pay money for software given how small your operation is.  Calculating distributions is the only tricky part, but given how few investors you will have (given that it's friends and family), it should be more than manageable.

We have funded $4 million loan this past June, and can go up to $5 million, or possibly higher (depends on a case by case basis).  

@Michael Pazirandeh the interest rates are indeed often more competitive, but the loans are usually recourse -- assuming this is a construction/ significant value-add project (as stabilized properties often get non-recourse financing).
 

I think you can get away with non-recourse loans when you do loans that are $10mil+, at which point you can be left with just "bad-boy carve-outs".   On development side, we have several $4mil+ loans that all came with personal recourse. 

As a lender, we do offer better rates for anything that's $1 mil or higher, and we go lower on points! 

The answer is always "it depends" :)

If you can show that this is an off-market deal, with evident comps that come in significantly above what you paid for the asset - a good lender will recognize that. If this was purchased via auction or MLS, you're fighting an up-hill battle since you effectively paid "market" for it.