All Forum Posts by: Mike Ball

In April, Huntsville had a 10.6% unemployment rate which is 4% better than the national average. Alabama was also one of the first ones fo open its economy so may numbers should be much better than national average as well  

https://www.bls.gov/eag/eag.al...

@Charles D Cruz thanks! That seems to be in line with my research and conversations with others!

@Lee Ripma is that in every state or just in CA? That’s the first time I hearing that and I own a 20-unit complex in Charleston.

I would like to get everyone’s viewpoint on what is the approximate number of units where you need a full-time on-site manager versus just off-site manager?

I am looking at a 48-unit property and am wondering if I need off-site manager, part-time on-Site or full-time on-site.

@Ben Leybovich

Hi Ben, would you mind sharing some names of lenders you have worked with?

@Kiley N.

Kiley, great memory. But all I own is SFRs there.

@Greg Dickerson

Who are some lenders that provide those?

@Greg Dickerson

Thanks Greg. But if you go Fannie or Freddie long term debt (10 or 12 year) then it is tough to sell in 3-5 years. Either the loan will need to be assumed or you have to pay prepayment penalty.

@Tj Hines

Thanks. Recourse debt seems pretty risky for a Manager to sign on if they have only 10-20% ownership.

Fannie and Freddie are great long term options. Do you see most syndicators keep investment 10-15 years so they can avoid defiance.

Hi BP Community,

I am in the process of learning syndication still and the big question I had was about the debt. Do syndicators take recourse or non-recourse debt? If you take recourse, will the manager personally sign the recourse guaranty?

Can you please suggest some non-recourse lenders active in the space?