All Forum Posts by: Eric Schleif

@Darryl Dahlen Is that a recent change in the SBL loan sizing? I've been doing 80% LTV Freddie SBL's in Tier I & II markets and 75% in the Tier III & IV markets. But I haven't done one this quarter so maybe it changed.

@Carlo C. I'm guessing your loan size is well under $1 million. I'm no expert in that space. Try calling some local credit unions. They might be able to push the leverage up a bit. Also what do you consider a high rate at 75% LTV?

@Brian Adams @Mark Mosch You guys ever push the leverage on your large Fannie deals to 83-84%? Just asking out of curiosity...I haven't had a client want to go that high in leverage.

@Darryl Shelton I have a few lenders who would probably be a good fit for this. PM me if you want to pursue a co-brokering deal.

Was the loan originated last year and it's a 10 year term? What's the UPB and current prepay?

Darryl Shelton are you brokering the debt and looking for a lender or are you on the development side and looking for a takeout? Is the construction complete and the hotel stabilized? Braden Smith as the fiscal year carries on lenders' hotel buckets seem to fill up quickly. We've had a good amount of success placing hospitality loans lately. PM me if you want to go over your deal.

@Wesley Wells I'm not sure you're following the language in the loan docs correctly. There is most certainly a 1% assumption fee due to the lender it the event you decide to assume the loan. I'd imagine that you'd be responsible to pay that. When I asked about loan terms I meant what's the maturity date, interest rate, etc. Given today's rate environment it usually doesn't make sense to assume loans.

What are the terms of the mortgage you want to assume from the seller? When does the seller's loan mature?

Matt, What asset type and deal sizes will you be pursuing?

I'd think you would want to value the portfolio based on cash flow. It sounds like this is a buy and hold acquisition. Any lender is going to lend to you based on the lessor of the LTV or the debt service covenants. I do have clients who are buying multi family buildings at 2 caps where they can only leverage 40%-50% of the purchase price but that is in prime NYC markets with specific strategic plans in mind. Best of luck.

Sorry I posted accidentally before I was finished. As I was saying, I'm closing a deal this week on a 4 unit in Williamsburg. The bank had concerns about this and scaled the loan back slightly. There are concerns that rents will be negatively impacted when the shutdown occurs. But nobody knows for sure how the markets will react.

I'm closing a deal with a client on a small 4 unit brownstone