42 min listen
ASK MIKE MONDAYS - Michael, are all lender TERM SHEETS the same?
FromOld Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles
ASK MIKE MONDAYS - Michael, are all lender TERM SHEETS the same?
FromOld Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles
ratings:
Length:
8 minutes
Released:
Nov 5, 2017
Format:
Podcast episode
Description
Typically, your lender brings in 75-80% of the capital needed to purchase an apartment property. Obviously the lender is very important to helping you complete the transaction. A lender term sheet gives you a rough indication of what rates and leverage could be. Michael discusses the basics of a lender term sheet. Paul also discusses the challenges of the GREEN PROGRAM in the future. FIND OUT-UP FRONT- if the seller has already implemented a utility savings program on the property. The GREEN PROGRAM rewards borrowers for investing in smart energy and water-saving improvements for a refinance, acquisition, or supplemental financing with a lower interest rate and more loan dollars. Something to be aware of: If the seller had previously completed the work that will save 20% in water or energy costs for either the landlord or the tenant; the new buyer may be challenged to find additional utility savings. If no additional savings are found by the energy audit, you will not get the interest rate savings or additional loan dollars. Yikes!
Released:
Nov 5, 2017
Format:
Podcast episode
Titles in the series (100)
Episode 1 - Mac Lawson: Mac Lawson shares with us how he was able to quit his job in the financial services business soon after he started investing in real estate. Mac owns a 176 unit apartment complex and over 50 houses in the DFW area. You will hear how he acquired and... by Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles