Re: commercial deal

---

Posted by Holly on November 17, 2008 at 12:12:57:

In Reply to: commercial deal posted by Eric on November 12, 2008 at 07:49:26:

try: Peter Panagako
Director Eastern Mortgage Capital
265 Franklin Street Boston, MA 02110-3113
(t) 617 - 897 - 1167
www.easternmortgagecapital.com

He will try to charge you 2 points for the mortgage. Tell him you want to negotiate 1. 25-30% management fee will be figured into the loan by any lender. If they have to take the property from you, they will have to pay to have it managed. Also, figure 5% vacancy rate, even if it is fully occupied. Peter will be looking for a DSCR of 1.35% on the property. He can offer you a 40 year term, no balloon with great rates if the numbers look good. It is also a non-recourse loan, so your credit will not be an issue.

Follow Ups:

---

Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:


 

---

[ Follow Ups ] [ Post Followup ] [ CREOnline Commercial Real Estate Q&A ]

CRE Online, Inc. © 2007, All Rights Reserved.
creonline.com