All Forum Posts by: Julian Sanchez

So I'm invested Commercial multifamily in Jonesboro and decided to visit here for the weekend looking at some apartment buildings,

Anyone want to grab a beer tonight, lunch tomorrow? would love to meet some local investors/commercial brokers

I'm going to La Terraza for dinner then going to Flyway brewing, hit me up 4077444174

So I'm invested Commercial multifamily in Jonesboro and decided to visit here for the weekend looking at some apartment buildings, 

Anyone want to grab a beer tonight, lunch tomorrow? would love to meet some local investors/commercial brokers

I'm going to La Terraza for dinner then going to Flyway brewing, hit me up 4077444174

I'm staying near Maxwell AFB the rest of the month. Looking for Multifamily deals (saw a handful on market but were beyond remodel condition); we typically do heavy value add

Michael, Jared would love to talk to you guys further

So I'll bring this back to life, we invest in value add multifamily. I'll be in Montgomery through the rest of the month. Any local meetups occurring this month?

@Lisa Eckman

Thank you Lisa, it does help.

At least it gives us peace of mind, we’ll be moving forward anyway

@Chris Mason

Well thanks for the insight sir. Interesting story too

Good evening BP, 30 year amortization on a refinance on a 825k loan, lender parent company large REIT

Interest locked based on the swap rate

10 Yr Swap Rate 1.57%
Credit Spread 3.81%
Interest Rate 5.38%

Here is the issue 

Every Amortization schedule out there puts out a $4,622.33 monthly payment. 

The lender is telling us that the payment is gonna be  $4,660. 
We went as far as getting the amortization equation and manually plug in the numbers,

In any case their response is:

You are calculating payment using a 365 calculation.

=PMT(5.38%/12,360,-825000) = $4,622 payment (excel defaults to a 365 calculation)

=PMT(5.38%/12(365/360),360,-825000) = $4,660 payment (this is how we calculate payment)

From the amortization formula the underlined part of the equation should not be there, but they insist that's the payment and any online amortization schedule is incorrect

Anybody come across a situation like this?

Morning BP. Have these two options on the table for financing a little 8 unit. We'll do minor cosmetic fixes, raise rents that are way below and possibly cash out in a couple of years. What do you guys think?

a 3/1 ARM at 4.75% or a 5/1 ARM at 5.0% with a 20 year amortization. This does require 20% down. No origination fee but would be responsible for title fees as well as appraisal fee. No prepayment penalty.

OR

So Anyone figured out how to find the owner if the LLC has an RA?

@Tom Lipps

Hey Tom, have a current situation with an. Apartment building in Toledo.

How did it all work out for you?