All Forum Posts by: Darryl Dahlen

Hotel lenders look to a Smith Travel Report (STR) to see what is going on in a local market with regards to occupancy, ADR, etc.

There might be some useful information for you on their website: http://www.strglobal.com/default.aspx

I like to enjoy a nice glass of good scotch or whiskey with my cigar. I've been wading my way through some various brands of both, but I've found that I'm happy with a good pour of JW Black.

I have a friend that likes some Taylor Faldgate 10-year Tawny with his smoke, and while a bit sweet, it is some good stuff. If you like Port that is.

I like to smoke a good stick every now and then.

There's a local cigar store that has a room filled with nice couches/chairs and big screen TVs. You can bring your own alcohol and kick back and watch some sports with the guys and not worry about stinking up your own house.

As of late, I've been enjoying a cigar called Natural by Drew Estates. It has a slight molasses flavor which I like a lot and only costs about 6 bucks a stick.

If I'm looking to spend a few dollars, I too like an Opus X.

You're the second person who's mentioned a Padron 5000 so maybe I'll look into one of those. Would you take one of those over an Opus X?

Agreed. Just because you choose not to use a unit does not change the classification of the property from 5 to 4-units. As an example, nor would adding a bed in an attic add a unit to make a 4-unit now 5.

I have to wonder why it would make sense to eliminate 20% of the income by taking a unit offline to use for storage?

A 5-unit property would fall into the commercial property classification, but since the loan amounts are normally pretty small on these they are often small balance commercial deals.

[SOLICITATION REMOVED]

I like the changes a lot! Thank you for your continued hard work Josh. It's nice to know that as the owner of the site you are always looking for ways to improve the site.

Interesting thought, but as someone who's worked on a couple VC deals, I think the chances of someone actually obtaining VC funds are so slim that it wouldn't be worth the time to try.

VC firms see so many deals it is almost hard to grasp. I talked to one company (in the nanotech sector) that was more than a month behind due to the amount of submissions they receive.

In order to have any real chance of success, you have to use what I call the "shotgun" approach. That is to say you have to submit your deal to as many VC firms that operate in the space you are seeking funds for. No sense sending your real estate deal to a firm that only gets in bed with green energy projects right?

There's also no sense in approaching only a handful of firms and expecting any hope of funding. To me, if you can't approach at least 20 VC firms it really isn't worth the time to try, but that's just me. Personally, as a broker, I wouldn't spend the time on a VC deal if there were fewer than 50 firms I can submit a client's deal to, but that's just my preference.

In the case of one deal I worked on, we submitted the client's deal to over 60 relevant VC firms, and to my recollection, only 20 or so even responded, and some took a month or two to get back to us.

Point being here is the competition for VC money is probably the highest out of any type of financing out there. That being the case, I think there has to be better options for someone who is in need of funds.

Reason I say that is if you have the qualifications to actually obtain VC money you most likely can secure easier money through a JV, line of credit, angel, hard money, etc.

I might be able to help you. I have a small balance program that goes up to 500K.

Providing the property can show a DSCR of at least 1.2, and you have a credit score of 700 or better, the program is fairly aggressive.

Rates for a 5//30 are in the 5s, and the closing costs are very low. Until the end of June the bank is waiving their origination fee. That means the only closing costs are title, escrow, a small UW bank fee, and my fee. That's it.

Yes, a big thank you to all who wear a uniform! It's not an easy job to serve, but I can tell you that it really makes a difference to have the support of a grateful nation behind you.

If there is a downside to 7a loans, it is the fact that they come with adjustable rates.

While don't think you'll have to worry about prime going high enough to impact your loan, you "can" refinance to a fixed loan if need be.

You mentioned 4 years in the your response, but you should only have a 3 year prepayment penalty (if that's what you were referring to) and the percentage reduces each year (5/3/1) making it pretty painless to refinance by year 2 or 3.