CMBS Article from NREI

Brent-Kenefick_jpgHere is a portion of an article from National Real Estate Investor Magazine discussing the role of CMBS or “Conduit” loan in the Apartment lending space.  We are seeing more and more transactions where the buyer of larger apartment complexes consider the advantages of CMBS financing over traditional financing thru banks and Fannie and Freddie.  CMBS is getting a little more aggressive but still underwriting is sound.  They are not allowing projected rents to be used to size the loan like they did prior to the market crash in 2008.
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Proposed Obama change to 1031 code, $1 Million Max per year!

The Obama administration revealed their proposed modification to “like-kind” exchange rules for real property affecting 1031 Exchanges possibly in 2015. The want to limit the amount of capital gain deferred under section 1031 from the exchange of real property to $1,000,000 per taxpayer per year.

Not good news for the real estate industry. Write your Congressman and encourage them to vote NO! Get the word out!

The Federal Reserve, Interest Rates, and 2015 Budget Proposal Possibly Affecting 1031 1031 Exchange Tax Proposal For 2015

Loans – Nationwide & California

Nationwide – Loans
1. Walker & Dunlap, underwrites and services FreddieMac & FannieMae loans. We help your clients decide which Go-to Agency or Bank is best. In addition we have FHA for Apartments, Assisted Living & Construction Projects. Min $1,000,000
2. New CTL (Credit Tenant Lease) Loans, ie. Walgreens, CVS, etc. – 25 yr, fixed rates to 100% LTV @ 1.01 DCR, Non-recourse. Min $2 MM
California – Loans
3. FHA Apt. loans & Assisted Living Nursing Homes 35 yr. Fixed 4% Range. Bridge to Perm Apt. Construction. Min $2 MM
LA, OC, SD – Loans

1. SBA vs Conventional Analysis for Owner users. 10% Down may be possible with SBA.
2. Private money Lot Loans, under 10% rate.