Let's trade info and help each other grow!

This is a huge mistake as there are other terms and lender administration processes that will have a far greater impact on how much cash is truly needed to execute on any given project and that's the cash amount borrowers should be aware of.How are interest payments handled?

After spending all day dodging junk mail, junk e-mail, junk texts, and junk phone calls I have very little energy left for junk BP posts!

As of my last update in April 2023, the definition of an accredited investor includes, but is not limited to, the following:Income: Individuals who have had an income of more than $200,000 (or $300,000 together with a spouse) for the past two years and expect the same for the current year.Net Worth: Individuals with a net worth exceeding $1 million, either alone or together with a spouse, excluding the value of the person's primary residence.Insiders: Directors, executive officers, and general partners of the company selling the securities.Professional Experience: Certain professional certifications, designations, or credentials or other credentials issued by an accredited educational institution may allow an individual to be considered accredited.Knowledgeable Employees: In the case of private funds, "knowledgeable employees" of the fund are also considered accredited investors.Institutions: Banks, partnerships, corporations, nonprofits, and trusts with assets exceeding $5 million.By imposing these criteria, Regulation D is meant to ensure that all participants in such an offering are capable of fending for themselves or sustaining the risk of loss, thus requiring less regulatory protection.Under Rule 506(c), it is not enough for an investor to simply claim accredited status.

@Brett Jurgens,With strong equity and a good tenant, you have a few options:Cash-Out Refinance: Offers lower, fixed rates for stable monthly payments and lets you keep the property while using equity to invest in another rental.HELOC: Provides flexible access to cash, though with typically higher, variable rates that can fluctuate over time.1031 Exchange: If you're open to selling, a 1031 exchange could defer taxes and allow you to trade up to a higher-value property or diversify into a different market.Each option has pros, so it really depends on whether you want to hold onto the current property or leverage its value for something new.

If you are not familiar with Scott, Scott was the Executive Director of the Opportunity and Revitalization Council, which was tasked in part to support and advance Opportunity Zone tax credits during the first Trump Administration.

The only inspectors I recommend are ones who have a background in the trades themselves because they actually know their stuff, but some buyers have read somewhere that they shouldn’t trust their agent’s inspector recommendation and they hire somebody else who doesn’t have any real hands-on experience building anything.  

Nice - congrats - hard to find Multifamily DSCR Loans at that size but looks like you successfully executed!

5-year prepay often has the sharpest pricing, but, 3-years can often be a nominal trade off or happy medium.

Big military base and probably lots of border trade if that continues.