Serges Lemo
Lease extension on a newly acquired property
Hello BP community,I recently bought a rental property with long term tenants in it. They had been signing lease extension with the previous owner for several years. One tenant's lease needs to be renewed soon. Can I ...
Will F.
Commercial office loan- Matured, renew? Prepay indemnity etc
Hi guys, I'm redoing a commercial loan for an office building in LA. Last loan just matured we're thinking of staying with the same bankThese are the terms, options and rate:10 year 15 year amortizationNo points or m...
Greg Black
Question on Hard Money Lender's Terms (newbie here)
Suppose
I sign a 12 month term at 8% ...I have been making payments on time,
and I am done rehabbing the house and its on the market. What do I do
as I enter month 12 and the house hasn't sold? Should I then g...
Henry Thai
BRRRR – timeline for hard money loan and cash-out refinancing
If most HMLs are for 6-month terms and most banks won’t allow cash-out refinancing unless there’s a 6-month seasoning period of rent, how does the time to rehab factor in? Wouldn’t it exceed the 6-month term of the HM...
Rodney Sums
The impact of a new freeway in the neighborhood
For those of you who live or invest in the metro Phoenix area, you may be familiar with the loop 202 extension. I'm curious to hear how those of you who own properties near new freeways have had your property values ...
Jean-Marie Poth
How do I handle both an extension and a contract termination
I am getting ready to present my first MTR and am wondering about extensions and terminations. If a tenant would like to extend, how does one keep the booking calendar open for that possibility without losing potenti...
Tequila Lamar
Is this a good hard money loan?
Hello! I received the follow terms for a hard money loan. Is this a good deal?It's for a full rehab of a duplex. 3 beds and 1 bath in each unit. $400,000 ARV.Total Loan Commitment: $295,000 Interest Rate: 11 %Initial ...
Jennifer Knestrick
Rate lock and loan amount
I realize this will simply come down to bank policies, but I’m curious what’s typical.In the the midst of a 1031 exchange, we qualified for a mortgage on the replacement property at $2.9M, and rate locked in mid July....
Tommy Dians
Is using a lease addendum to extend a lease ok after expired term for a M2M Tenant?
Hi all, I usually just make a lease addendum when extending a lease, but due to the economic situation of a tenant the original lease term expired about 2 years ago and we have been month to month since then. Even th...
Cassidy Burns
Structuring First Seller Financing Deal!
Happy Holidays BP!I am putting together my first Seller financing deal and I wanted to see what you thought of the terms. The seller and I have already discussed this a little but wanted to get some feedback before o...