Money Talks What Is The NOI On The Property

One of the first things I ask a client during our initial conversation is how much is the loan amount and what is the NOI on the property?

Most of the time this separates the first time buyers from the seasoned pros by whether or not they know what I am referring to. When they hesitate, hem and haw with crickets resounding in the distance, I know they have no idea of what I’m talking about but 9 out of 10 will chirp up.

Well, it grossed $300,000.00 last year! Continue reading

Is Self Storage Beneficial for Businesses and Offices?

Self Storage companies provide storage space to home users where they can store personal items like furniture and other belongings to make space at home. Self storage facilities can also be used for commercial purposes by businesses and offices to store extra equipment, machinery and furniture lying around the office. Storing stock on your commercial premises can make your office look more like a warehouse instead of business premises. This is when you need to contact a storage company that can take care of your storage needs. Continue reading

Personal Self Storage Solutions for Home Owners and Students

Self storage companies provide storage space to residential and home users who look for extra storage space to store their belongings. Personal self storage companies can take care of all your storage needs, whether you want to store your sporting good, seasonal possessions, valuables, old piece of furniture or a piano, student storage possessions or belongings and furniture at home which you need to clear to de-clutter your home for a sale or for moving to a new house. Continue reading

Rate Shopping…Is That Your Lowest Rate??

I’ve often said that if I had a dollar for each time I am asked during the year…

So…what’s your lowest rate?’   A mortgage professional can tell that a client is shopping rate only.  Since we work with clients all over the country and can’t see you on the phone, we can tell by the questions you ask and the answers you provide.

Is it a purchase or refinance?

How much did you invest?

How long have you owned the property? Continue reading

You Get What You Pay For…

It seems all we talk about these days is ‘the competition’ and how to beat them.  From board games to reality TV, the concept has never been more prevalent in modern culture.  But when does quality come into play?   Sure…we’ve all seen those ‘Coupon Queens’ fight it out to the last nickel over the one thousandth roll of bargain brand tissue but really now…who would ever need a 1000 rolls of anything much less cheap toilet paper??  Which brings me to the point…when do quality and experience trump the competition? Continue reading

Are You a Good Boy Scout?

Sometimes, borrowers have the best of intentions but lack the industry expertise to swiftly navigate the ebb and flow of the market’s products.  There is a certain foresight one develops that affords a seasoned loan officer to provide expert advice coupled with current product knowledge to produce a closing which benefits both the bank and the borrower.

The old motto, ‘be prepared’ certainly applies to lending in today’s market.  Oftentimes I receive calls from clients who think they simply call the lender and sign a document to refinance their property.  Continue reading

Credit Reports….No Maserati’s Please!

Over the years, I’ve worked with all kinds of investors…from those just starting out with their very first commercial investment, to CEO’s of Fortune 500 companies developing large parcels of raw land into mega malls.  One thing holds true…most of them don’t know the first thing about their credit reports or how to use them.

Recently, I had a client I was working with to refinance a number of properties for.    We were inches from the closing when the lender contacted me to inform me that they had declined the transaction… Continue reading