All Forum Posts by: Alan Nelson

Chris, thanks for the insight.  It seems that this time around there might be more opportunity for the big funds rather than the smaller investor.  Any guesses on how a smaller player might be able to participate this time around (as the opportunity presents itself)...besides investing in a fund?

Hi Jimmy!  Congrats on your success so far.  As you've probably heard, Indy is a very "block by block" market.  I've worked with Tasheana Hanza (Hanza Realty).  She is an investor herself and I know she works with out-of-state owners.  

Hi BP folks - With interest rates being low, it seems like a smart move to pursue a fixed rate cash-out refi on a commercial building that is in a suburb near Indianapolis. Would love feedback on whether I am in the ball park on the loan possibilities:

Details on the building:

-15,000 SF sing-use commercial building; current value $800K; well-maintained

-25 payments remaining on current loan ($160K payoff)

-Tenant is a profitable retail franchise; Landlord and Tenant have common ownership. Common owner FICO is 800+ and would like to not sign personally, but it's not a deal-breaker

"Avatar" loan would be 4ish% fixed, 15-20 years, 70% LTV, no rate reset.

Am I in the ballpark? Any recommendations other than "go to a small local/regional bank" (which is already part of the plan)?

Thanks in advance for your help :)

Hi BP folks - With interest rates being low, it seems like a smart move to pursue a fixed rate cash-out refi on a commercial building that is in a suburb near Indianapolis. Would love feedback on whether I am in the ball park on the loan possibilities:

Details on the building:

-15,000 SF sing-use commercial building; current value $800K; well-maintained

-25 payments remaining on current loan ($160K payoff)

-Tenant is a profitable retail franchise; Landlord and Tenant have common ownership. Common owner FICO is 800+ and would like to not sign personally, but it's not a deal-breaker

"Avatar" loan would be 4ish% fixed, 15-20 years, 70% LTV, no rate reset.

Am I in the ballpark? Any recommendations other than "go to a small local/regional bank" (which is already part of the plan)?

Thanks in advance for your help :)

Hi BP folks - With interest rates being low, it seems like a smart move to pursue a fixed rate cash-out refi on a commercial building that is in a suburb near Indianapolis.  Would love feedback on whether I am in the ball park on the loan possibilities:

Details on the building:

-15,000 SF sing-use commercial building; current value $800K; well-maintained

-25 payments remaining on current loan ($160K payoff)

-Tenant is a profitable retail franchise; Landlord and Tenant have common ownership. Common owner FICO is 800+ and would like to not sign personally, but it's not a deal-breaker

"Avatar" loan would be 4ish% fixed, 15-20 years, 70% LTV, no rate reset.

Am I in the ballpark?  Any recommendations other than "go to a small local/regional bank" (which is already part of the plan)?

Thanks in advance for your help :)

@Dana Powell Thanks, Dana! -Alan

@Hoi L. Thank you! -A.

@Hoi L. Congratulations! Are you willing to share the contact info for PNC? This sounds like a great approach. I didn't think it was possible to get a fixed rate HELOC. Thanks, Alan

@Dana Powell Great thread.  Who is your lender?  I have a few condos in a similar situation and thought about getting cash out with a low, fixed long term product.