The Difference Between Recourse and Non-Recourse Loans

I don’t have the exact quote, but the star quarterback turned real estate mogul Roger Staubach was asked about his biggest regret in building his real estate portfolio. His response was he wouldn’t have used debt with an unlimited personal guaranty attached to it. He felt that over years of experience a non-recourse approach was […]

To Reserve or Not to Reserve, That is the Question

With the rise of the COVID-19 pandemic, operating and capital reserves have become a topic of discussion for apartment syndication sponsors and investors alike. For some, today’s uncertainty is a chance to brag about their foresight in raising a large war chest for tough times, while others fear they will soon pay the price for […]

Will the Coronavirus Create More Renters?

This pandemic-caused global downturn we’re currently slogging our way through is the latest economic scar on the psyche of the Millennial generation that may convince them to remain renters long after COVID-19 is a chapter in the history books. As masks have become the new norm as we venture out of our homes in the pandemic, […]

COVID-19 – A Blessing in Disguise?

As soon I typed that title, I immediately felt internal resistance. Is that just insensitive? Is it too soon to even be having that sort of conversation??? It may be. Our nation, our world, our economy is in some real turmoil right now. And the last thing I want to do is pour fuel on […]

Timing the Market – 3 Step Process to Win the Refi Game

Fear and greed are the two main drivers that commonly derail day traders in the stock, futures, and Forex markets. Given the wild swings in the stock market due to COVID-19, it is hard not to be intrigued with the quick gains the stock market could provide if only you pick the right side of […]

What Toilet Paper Shortages Teach Us About Interest Rates

I hate jumping on the Coronavirus bandwagon of content, but like it or not, it is having a real effect on our global economy and is causing a lot of uncertainty in the financial markets. This uncertainty is impacting the interest rates available on commercial real estate debt. It’s really hard to say, nor is […]

HUD Eliminates Three-Year Rule on 223(f) Applications

Exciting news for value-add and new construction investors! On March 2, 2020, HUD announced the elimination of the three-year lock-out rule for applications to refinance or acquire existing properties under the Section 223(f) loan program. This exciting change will open up opportunities for borrowers to refinance stabilized multifamily properties much sooner after construction completion and […]

Want a Good Personal Financial Statement?

We all know the saying – “You never get a second chance to make a great first impression.” The purpose of this article is to help you make your first impression with your mortgage broker or loan officer a great one. And how do you do that?? You have a current and complete Personal Financial […]

Commercial Loan Prepayment Penalties Unwrapped

Nothing says romance quite like a prenuptial agreement does it? That comment is certainly facetious, but sets the stage for an analogy regarding the prepayment penalty aspect of commercial loans. It is important to understand what you’re getting into with your loan. The loan documents explain all the terms of the loan, and the prepay […]

10 Biggest Mistakes Made When Seeking Multifamily Agency Financing

There’s lot of interest in Agency (Fannie Mae and Freddie Mac) debt in the multifamily universe these days. Because these loans limit your personal liability, net you higher cash flow, allow higher leverage (larger loan amounts) that increase your returns, provide you more surety of future results, and allow for virtually unlimited growth – there’s […]