All Forum Posts by: Jean Bolger

Thanks @Brandon Turner and @Michael Seeker ! I was aware that the T&I are escrowed- I just didn't know if that was common practice for commercial lenders and especially smaller banks servicing their own loans. This is my first time shopping for a commercial loan, so I don't want to walk in there flying my Noob flag too high ;)

'weep hole crusade'! that title sure made me click....... funny!

I am sorry you have to deal with this..... but ya know, that expanding yellow foam stuff IS kind of fun. (and addictive, so watch out for any other orifices)

Hi all-
I am looking into my first commercial multi-family loan. Do commercial loan payments include PITI like a residential loan? Or is it just principal and interest, with the tax and insurance paid by the loan holder?

I've painted paneling in the past and it's come out fine. Use a serious primer, like a shellac based primer, or you won't get good adhesion. The last paneling I dealt with was the basement of my own house. I tore it completely out and stained the concrete walls. It's not expensive and I think it looks really great. But if you're flipping the house it might be a little too "out there".

Discussing this with your fiance will be a great way for you two to get on the same page about your future financial plans. Or if you're NOT on the same page it will give you a starting point to learn each others' ideas, fears, and beliefs about money and investment and figure out a way to make both of you comfortable.

"from 1890 to 1990. The American dream of building wealth through homeownership is a FALLACY. That was the bubble thinking but its still fresh in our minds."

This makes me think of a couple of things.

1. 1890 is an odd place to start. At that time the ownership of a home (at least in the cities) was something possible only for the wealthy. As David has already brought up, the "invention" of the modern mortgage in the 1930's changed this, and caused a lot of lower/middle income families to be able to buy a home over time. This might not increase the value of the building, per se, but it certainly added to the wealth of those families. Compare it to paying an increasing rent over those 30 or so years; at the end of the mortgage you have an asset that can be sold, if needed, or enjoyed without the outlay of rent.

Unfortunately the public perception in the last 30 years changed from building security through home ownership to building wealth, and that wealth was not what it seemed. So I think he's partially right.

2. Homeownership and real estate investment are two separate spheres. I like Frank Gallinelli's books, and I have drilled into my head his statement "You're not buying a building, you're buying an income stream". So the building itself may not make you money, but hopefully the ownership/control of the building will make you money.

Interesting thread!

What a cool place.....this makes me wish I was in Indianapolis.

A big (unsolicited!) thumbs up for rentmetrics.com, which I just recently discovered. It really is pretty swell. I also check rentometer.com. Craigslist , with the new mapping feature is surprisingly useful You get a lot of ads w/ pictures, so you can tell the shacks from the castles and figure out where your property stands.

Looks sharp! I love gel stain, I used it on the front door and some paneling in my own house, which was a HUD fixer-upper. Easy and gratifying. (Do a test patch first, if possible, to check for color and absorbtion- I ended up going back for a different color)