First property over 4 units - Posted by Tom K

import · January 30, 2004, 9:35pm

Posted by wes on January 31, 2004 at 13:23:51:

Tom,
If you have an agreed upon purchase price. Just ask for the maximum LTV the lender will lend on this property.

For a commercial loan like this, lenders are going to have to look at the deal first before they issue any commitment letter. They may tell you they can lend a certain LTV but in most situations, the commitment letter will tell you what they will actually be “willing” to lend and that is based on the information you provide them on any particular property.

import · January 30, 2004, 9:35pm

First property over 4 units - Posted by Tom K

Posted by Tom K on January 30, 2004 at 22:35:43:

My partner and I have been 1-4 unit landlords for 5 years. We are now interested in a 16 unit building. before I contact the broker, I want to make sure that I’m prepared to ask and answer the right questions. I’ve read different articles on due-diligence, but I don’t know how much to ask for on the inital phone call. Thanks in advance.

Tom