Anything that extends my reach is worth a look.

Hold your nerve and don't slash prices unless you're seeing some extended time without bookings.

The rate cap in January is currently priced at $747,000.The Capital Call funds will be used in the following ways:1) $4mil is being used to pay down the loan.2) $175k fee to extend the loan for 1-year.3) $2.247mil to cover interest rate cap extensions for the remainder of the hold period, including $747k for the January 2025 6-month interest rate cap purchase.4) $1,000,000 in reserves to prepare for additional extension fees and cash reserves.

This resource covers FEDERAL fair housing law, but I think some states (especially tenant friendly ones) may extend protections further and may even eliminate some of the exemptions.

Rents have softened, though, and currently experiencing an extended vacancy in one.The advice you're hearing here is sound. 

What type of MEP work are you putting into the design for getting the sewer, water, power, and internet (assuming you're not extending gas) to the inside of the building? 

It helps that we don't allow transactions to pile up throughout the year.Most of our Clients before having us do their books would have to extend every year and some even went multiple years without filing tax returns.

This would typically occur only if you are over extended.  

They didn't extend loan maturities because they were looking out for borrowers--and the moment they feel the market is strong enough for them to liquidate the asset they will foreclose and/or force a sale to recover as much principal as they can. 

He did try to work with me by extending my time from 6 month to a year which led me to ask him question about his turnover rate and success rate of his mentee.