Posted by ray@lcorn on January 06, 2003 at 18:13:42:
Andrew,
Thanks for coming back and letting us know how it turned out. I’m glad to hear it worked out well.
Just goes to show that so often the best path is the one that appears as we take those first steps into the unknown.
ray
Uncle’s Motel - Thank you Mr. Alcorn - Posted by Tantoon
Posted by Tantoon on January 06, 2003 at 16:06:30:
Ray,
I could not find the initial post where I had asked for your advise in helping refinance my uncles motel near Disneyland. Therefore I am posting my message here.
I want to thank you for your advise that you gave me regarding steps and strategies or things I needed to think about to get the financing done. I am happy to tell you that inspite of his low ADR I was able to get him financed at 7% , 25 year amortization and with no prepayment penalty. He is so very happy because of the rate spread from 11.75% to 7%. What you gave to me in advise was perhaps not the exact answers but doors I needed to knock on and explore. I went exploring and it worked. So thank you again.
Happy new year MR. Alcorn.
Andrw PAtel