All Forum Posts by: Cheryl C.

I'm looking for distressed Hotels in the Northeast or entire East Coast. At least 100 keys. Prefer "flagged". Very strong purchaser. Will buy debt or property. Anyone have anything?

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Joel,

If you buy the loan for "X", you own it regardless of face value. The original lender is out of the picture. Did that lender cross-colateralize the property?

Joel and Financexaminer,

I have specifically seen this in the Hotel Business. The banks' lien can quickly diminish in value if the property is shuttered.

I've heard of this in Commercial. I don't quite understand why the lender prefers this route (no foreclosure costs, no "holding the property", or, God forbid, having to hire someone to come in and run a business). I'm quite sure, as noteholder, you can accept whatever you want in satisfaction of the lien, Have you read the mortgage docs?

Hi Jeffrey!

You are in a good place right now to load up with low rate financing. I'm older than you and looking at my exit plan. If I were you, I would be buying and stretching out the loans as long as possible.

I've got extra cash sitting around and am at my max comfort level on # of rentals. I wish the cash-flow was this good 20 or 30 yrs ago! Best of luck!

Hey Rich, glad to hear it as I own some properties in Naples.

Jerry, we bottomed in a number of areas in DC in late '08 and thru '09. Some areas over-corrected and have seen a nice bounce. Like another poster, I don't care about a decline of 10% or so. Rental demand is terrific and rents were up 8% yoy regionwide. Rents are projected to continue up nicely for 3yrs or so until new inventory comes on line.

Thanks financexaminer.

Bryan, I'm ten yrs out at this point. These are the lowest rates I have ever seen. I wouldn't be a long-term fixed rate lender right now. I am hoping to catch the next "up cycle" on the future sales. Probably should just take the $$$ and run at that point. I'm looking at RE equity in the mid 7 figures currently.

Thanks Bryan. Definitely something to consider. I want a hands-off stream of income. Maybe TIPS (?) as well.

I can space out the sales or keep some for income. I've got 20 and this will not be a sole soure of income -maybe 25% or less.