All Forum Posts by: Tod R.

Corey Dutton I think the banker's comment is correct. Based on our conversations with regional banks, some banks took big losses from real estate over the last few years and are trying to clean their balance sheet of these, as well as reduce the percentage of RE loans in their portfolio. Other banks did not take as big of a hit and continue to make good RE loans, "cherry pick" as you say.

Lance H. do you work for a regional or local bank? My impression is that many smaller banks fared much better than the national mortgage factories. Also, are you saying that the same potential customer would have gotten a loan four years ago? I would think this is an exception to today's applicants, not the norm.

I know Joshua Dorkin would be very greatful. I'm not sure if there's an easier way, but here's the link:

http://www.biggerpockets.com/donate.html

You can value it a couple of different ways. One is, as-is, which is to appraise as raw land based on similar land sales comps. The other is to basically back into a land price as if the property was developed for highest and best use, as Joel Owens mentioned. Value the property as if construction is completed and achieved stabilized operations (office, retail, multifamily, single family). From that value, back out all your cost associated with construction (hard and soft costs) as well as a fair profit an owner/developer would require in order to build. What's left over is basically your land cost.

As Joel said, its really more complicated, but that's the ballpark price (value) the owner/developer would pay for the land in order to build the improvements that is considered highest and best use in order to acheive a reasonable profit.

Limiting (some) factors of your land that you must understand:
-Zoning
-Deed Restrictions
-Utilities availability
-Site issues
-Environmental study

98.7% occupied. Thats pretty impressive Rich Weese no matter what market or how hot it is!

Nick J. make sure you give us all your suite number when you get checked in so we know where the party will be!

He must be making the media rounds. I just read this article on Bloomberg about Buffett. So, is he saying that having your home foreclosed on is a valid business model?

http://www.bloomberg.com/news/2012-02-27/buffett-says-banks-victimized-by-evicted-homeowners-who-emerged-as-winners.html

Maybe Bryan Hancock can speak to this in detail, but I've heard new construction for multifamily in Austin is pretty tough. This would add value to existing MF or single family.

Hey Rusty,

Did you see Nick's post in this thread?

http://www.biggerpockets.com/forums/484/topics/71313-summit-group-rate-no-longer-available

Hey Kyle. To my knowledge, this can easily be handled with an amendment. However, if you prefer to have your new lease in effect, then that would be appropriate too. I don't know what impact that would have legally as you asked. Let us know what the legal eagle says for our fyi.

Good thing you have an attorney and are not relying on this amazing reply for your answer...:)

Way to go Kelvin!

Are these separate contracts so you can close one, some or all?