Jul 29, 2017
The quarterly loan officer roundtable is an internal discuss
with some of the loan officers at Old Capital on what is working or
not working with lending. Jonathan Ferrell is introduced to the
listeners. Jonathan joined Old Capital as a Senior Director.
Jonathan has over 14 years in banking and is an expert on financing
commercial real estate. James Eng gives us macro-economic feedback
on how some of the different apartment markets are doing in Texas
and the nation. Ricardo Hinojosa shares the importance of property
management and getting them engaged early in the transaction.
Looking at rental comps in the submarket and then building a an
initial rehab budget early on with a qualified property management
company, can save a ton of time on a deal that may not work.
Ricardo goes onto explain some REFINANCE CASH OUT GUIDELINES for
Freddie Mac Small Balance loans. Dave Walls talks about the
challenges with affordable housing. Jonathan Ferrell stresses the
importance of having the right budget numbers upfront when you
apply for the loan because if it is slightly off your
reimbursements for draws will have an impact. Check and double
check your budget numbers, please. Les Meisl speaks about
underwriting guidelines with Freddie Mac Small Balance and the
MAXIMUM loan leverage you can expect for a refinance- cash out or
even a purchase. Smaller, remote cities in the US can have lower
leverage requirements than larger cities. Meaning, max leverage in
Chicago will be 80%, but max leverage in Tupelo, Mississippi is 70%
with Freddie Mac. One size of town will not fit all! Make sure you
contact us to find out what the maximum leverage you can
Thanks for joining the conversation.
To contact James Eng firstname.lastname@example.org
To contact Ricardo Hinojosa email@example.com
To contact Dave Walls firstname.lastname@example.org
To contact Les Meisl email@example.com
To contact Jonathan Ferrell firstname.lastname@example.org
To receive our FREE 15 page WHITE PAPER REPORT on the 2017 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.