I called her again several days before the sale date and warned her it was highly unlikely she'd get another extension (you often got a sense of which ones would or wouldn't).

Hi!I was just approved to purchase my first multifamily property. I will use FHA and occupy/ manage the property. I am looking to make sure I account for all costs I will incur from loan closing to lease-up. I have se...

Since the uncertainty is high lenders structure these deals at 20 yrs amortization with 5- 7 yr terms that either convert into a balloon with the full balance due at the end of the term or at a higher rate...Your probably thinking you can get an extension before the term is out... and in some cases yes depending on rates the economy and the mood of the bank... if those factors do not align then the extension may not be available...But their is an alternative...The alternative is an alternative lender. 

When you do something like that, it communicates that the company is not a legitimate business endeavor held at arm's reach, it is an extension of you personally. 

As someone who is former tax accountant with extensive business and program management background, I assure you that there are a ton of transferable skills and educational components that I picked up from my MBA and previous experience for my current role as a syndicator. 

Others will fight you legally, delaying every action until the last second, and working with tenant groups to seek extensions and make you look like the bad guy.In short, make sure your paperwork is 100% correct, and gets filed immediately.

Since then, we've begun the process of exterior and facade renovations, while going through permitting and designs with SRP and the city for much more extensive renovations.

My lender offered unacceptable options to refinance a commercial loan that just matured and is on an extension period. 

Hello Everyone,Just wanted to write this post to uncover an option to take out a hard money loan that won't offer an extension or you decide to keep the flip and turn into a buy and hold.Not all hard money lenders offer extensions on their loans and if they do they will charge an extension fee in the form of a point on the loan amountThat's not a bad thing its just the way the business works.But if you have a flip and you want to keep it and rent it then you need to take out the hard money loan.  

., extensive renovation/rehabilitation activities), the FHA 223(f) loan program is probably a good starting point.