One person had to go through 30+ local commercial lenders which are the easiest to work with!

Yes, Mustafa Lakadawala from Clarke Realty (local to St.

I have lived in Truckee for over 23 years and understand the pain you can go through dealing with a local government where the answer you received on Monday is different than the answer you receive on Tues, Wed, Thur & maybe even Friday if anyone is working.

But I do have a local lender ready to give me a commercial loan, 5 year balloon, 20 year amortization, 4% interest and 75% LTV Most national lenders are shying away from Hospitality and only offering 60% LTV right now

I'm a part-time CFO (Chief Financial Officer) for real estate developers across the country, most of whom are trying to give back to their communities through their real estate development skills.I'm also a former Director of Lending for a CDFI that lent money to local developers rebuilding LMI and under invested communities. 

The 6% vacancy rate is a good estimate, but local market fluctuations could affect rent.The HML terms (11.95% with 3 points) are high, so ensure a clear timeline for refinancing to minimize interest costs.

I’ve got multiple properties in several areas all of which are still fairly local which means if something happens in one community I’ve got locations elsewhere to help compensate.

Do I contact appraisers and local title insurance agencies to begin to find one that I could use? 

It’s still rough and has plenty of room for improvement, but I can upload photos of a distressed property, tax records, comps, lender rates, and local rehab costs.From there, it analyzes the photos to identify repairs, explains why they’re needed, estimates costs for each item, calculates the total rehab budget, determines ARV based on comps, and provides an expected return—basically automating a lot of what spreadsheets already do.It’s not meant to replace an analyst, and of course, everything still needs to be verified.

But I would rather rent it out so it could be our first/foundational rental property and we can continue to grow our portfolio.We've been looking to rent for a while now but with the local rent pricing it is just as expensive/affordable to purchase your own condo than to rent.