What happened to post for commercial second?? - Posted by Ray Alcorn

Real Estate Investing Real Estate Gurus
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Posted by Ray Alcorn on August 06, 1999 at 15:12:06:

Jon,

Also, be sure to check the first mortgage you are assuming for any prohibition or maximum amount of any secondary financing. You’ll need specified release terms for the units for both notes, or the financing will be a mess.

Good Luck!

ray

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What happened to post for commercial second?? - Posted by Ray Alcorn

Posted by Ray Alcorn on August 06, 1999 at 11:52:35:

I just answered the post by Jon about a $2M commercial second for a condo conversion and it disappeared.

What’s up?

ray

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Re: What happened to post for commercial second?? - Posted by John Butler(Stl)

Posted by John Butler(Stl) on August 06, 1999 at 12:11:17:

I guess it was construed as advertising and zapped. If he had just asked about structing his condo conversion it probably would have been OK. Asking for or offering specific financing is a no-no I believe. I do wish I could have read your answer before it went though :frowning:

John

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Re: What happened to post for commercial second?? - Posted by Ray Alcorn

Posted by Ray Alcorn on August 06, 1999 at 12:22:16:

Hey John,

He was asking for help in finding financing. I pointed him to www.businessfinance.com and made a couple of suggestions as to the terms of the first.

JP, is that a no-no here?

ray

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I’m Innocent… - Posted by J.P. Vaughan

Posted by J.P. Vaughan on August 06, 1999 at 17:19:14:

We didn’t remove it, Ray, so I don’t know what happened.

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Re: What happened to post for commercial second?? - Posted by Jon Cummings

Posted by Jon Cummings on August 06, 1999 at 15:02:18:

Ray-

Thanks for your reply; I’ll check out the site. I’m not sure why the post was killed?? Others have asked about hard money lenders, etc…

Anyway, thanks!

Jon Cummings

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Thanks for checking :wink: (nt) - Posted by Ray Alcorn

Posted by Ray Alcorn on August 06, 1999 at 21:45:23:

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