All Forum Posts by: Tom Doherty

@Alan G. Just curious, as I'm learning about the lending process (commercial loans)

If you don't mind, what kind of loans? What is your strategy? (Buy&Hold)

I just posted a question in another forum about commercial lending, trying to educate myself.

Thank you!

@Mike Dymski @Jared Rine

I appreciate it!

The reason for the question is specific to a buy and hold strategy. I understand with a traditional mortgage that you limited to a certain amount loans under your name so that is why commercial loans are appealing but come with a cost.

Good morning BP,

I listened to the most recent podcast about BRRRR and Partnership (Great episode). @Brandon Turner mentioned something along the lines of a balloon payment on some of these commercial loans.

Couple questions.

1.Can someone explain a commercial loan with a balloon payment?

2. What happens if you can't pay the remaining balance back? Do you refinance?

3.Are there commerical loans without balloon payments?

4. What are the pros & cons.

I apprecaite the help.

@Jay Hinrichs

Wow! I did not know that. Very interesting.

@David Weintraub

Great info! I really appreciate it.

@Stacey Tillman

I feel your pain. I worked with a client of my on her first investment property (outside of Philadelphia) it was a HUD property (Sage) Cash deal, no inspections. Everything was smooth until about 5 days prior to settlement the title rep called me and said settlement will not happen. There was no explanation at all but what I found out later on is that no one processed the paperwork when it was first submitted. Long story short we finally settled on the property about 3-4 weeks later. I probably called every single day (sage) and kept getting sent to a VM. Very Frustrating!

BP (Philly Area)

Anyone familiar with the sheriff sale process in Philly? Specifically mortgage forclosures? I've been to the site which provides certain information but curious if anyone on BP in the Philadelphia area has had a sucess or can provide advice on purchasing from the sale.

FYI - I have atteneded the sheriff sale in Delaware County so I understand the process (Upset price/opening bid)

Thank you for the help!

Looking for off the markets deal in Delaway County, PA

@Dave Whittaker

Welcome to BP. Real estate is a great opportunity to create financial freedom. Let me know if you have any questions.