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re: Securing Loan with Commercial Real Estate
Posted on 3/23/13 at 1:47 pm to LSURussian
Posted on 3/23/13 at 1:47 pm to LSURussian
Ive never financed commercial real estate. Family has quite a bit for people that aren't really in the business. I am trying to push them to leverage the property we own now to acquire more property, or just take out a loan and secure it with the property. That way we won't have to have a capital call or use up the rent from the other properties. Right now, it has just been passed down with the generations without much enthusiasm for growing it and as an heir, I would like to see that change.
1
Posted on 3/23/13 at 1:53 pm to ShreveportTIGER318
quote:
ve never financed commercial real estate. Family has quite a bit for people that aren't really in the business. I am trying to push them to leverage the property we own now to acquire more property, or just take out a loan and secure it with the property. That way we won't have to have a capital call or use up the rent from the other properties. Right now, it has just been passed down with the generations without much enthusiasm for growing it and as an heir, I would like to see that change.
I am in your exact position right now. I am in talks with 3 banks at the moment and awaiting financing structure and rates. We have almost 100 percent equity in the properties and at the rates offered today it would be a shame not to act, which is why I am doing this right now. I am concerned about easing cash flow, so leveraging and expanding the properties at this interest rate makes too much sense at the moment. I will let you know what I turn up in financing as far as rates.
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