Episode 113 - Lenders Roundtable for 4th Quarter

We sit down with the loan officers at Old Capital and listen to an update on commercial real estate lending.

To contact James Eng: JEng@oldcapitallending.com
To contact Les Meisl: LMeisl@oldcapitallending.com
To contact Ricardo Hinojosa: RHinojosa@oldcapitallending.com
To contact Dave Walls: DWalls@oldcapitallending.com
To contact Jonathan Ferrell JFerrell@oldcapitallending.com

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.

ASK MIKE MONDAYS - Michael, what is your opinion of FHA APARTMENT loans?

A timely question; Michael and his team are currently assuming a FHA loan. FHA is a federally guaranteed program under the government’s Department of Housing and Urban Development (HUD). FHA Loans can be used for the purchase/refinance as well as the construction/ substantial rehabilitation of multifamily or healthcare properties. Loans are non-recourse (except standard carve-outs) and rates are very competitive with 35-40 year fixed terms and amortizations. FHA are available nationwide and are available for any market (primary, secondary, tertiary). Michael describes some of the benefits and challenges with FHA financing of large apartment buildings.

Episode 112 - What CHALLENGES do you have when you buy two large assets, at the same time, in two different states?

Wow! How would you like to work on two separate purchase transactions at the same time? These investing partners found themselves with two accepted LOI’s. They could have dropped one and focused on the other one…but they and their investors decided to move forward with these two purchases. Menon and Ajai are investing partners. Menon lives in Northern California and Ajai lives in Dallas. After submitting numerous LOI’s, their offers on Magnolia Woods (240 units) in Atlanta, Georgia and The Carlton Apartments (108 units) in Fort Worth, Texas were accepted.
Menon explains on why he made the decision to invest in apartment education and mentoring BEFORE he invested in apartments. Ajai, expounds on some of the challenges they found on takeover of both properties.

To contact Ramakrishna Menon : menairproperties@gmail.com
To contact Ajai Sharma: aimnextrealty@gmail.com
To contact James Eng: jeng@oldcapitallending.com

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.

ASK MIKE MONDAYS - Michael, are all lender TERM SHEETS the same?

Typically, your lender brings in 75-80% of the capital needed to purchase an apartment property. Obviously the lender is very important to helping you complete the transaction. A lender term sheet gives you a rough indication of what rates and leverage could be. Michael discusses the basics of a lender term sheet. Paul also discusses the challenges of the GREEN PROGRAM in the future. FIND OUT-UP FRONT- if the seller has already implemented a utility savings program on the property. The GREEN PROGRAM rewards borrowers for investing in smart energy and water-saving improvements for a refinance, acquisition, or supplemental financing with a lower interest rate and more loan dollars. Something to be aware of: If the seller had previously completed the work that will save 20% in water or energy costs for either the landlord or the tenant; the new buyer may be challenged to find additional utility savings. If no additional savings are found by the energy audit, you will not get the interest rate savings or additional loan dollars. Yikes!

Episode 111 - Looking to BUILD WEALTH and SAVE ON immediate TAXES? A 1031-TAX DEFERRED EXCHANGE could benefit you

Craig Brown is an attorney and expert on educating clients on the benefits and risks of a TAX DEFERRED EXCHANGE. He has closed thousands of transactions and will give you specific advice for your 1031 exchange.
Important Considerations for an Exchange:
A) Exchanges must be completed within strict time limits. The Exchanger has 45 days from the date the relinquished property sale closes to identify potential replacement properties. The purchase of replacement property must be completed within 180 days after closing of the sale of the relinquished property.
B) Identification of potential replacement properties must be specific and unambiguous, in writing, signed by the Exchanger, and delivered to a Qualified Intermediary. The list of identified potential replacement properties cannot be changed after the 45th day; the Exchanger must acquire from the list of identified properties or the exchange will fail.
C) To avoid payment of capital gain taxes, the Exchanger should follow three general rules; 1) purchase a replacement property with a value equal to or greater than the value of the relinquished property, 2) reinvest all of the exchange equity into the replacement property, and 3) obtain the same of greater debt on the replacement property as on the relinquished property.
The bottom line: You need to know a 1031-Tax Deferred Exchange specialist.
To contact Craig Brown: Craig.Brown@ipx1031.com
To contact James Eng: JEng@oldcapitallending.com
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.

Episode 110 - JLL - Austin/ San Antonio - What you need to know about the BOOMING GROWTH in Central Texas!

Scott Lamontagne and Zar Haro are with JLL in Austin/ San Antonio and sell a bunch of apartments in Central Texas. Scott is the managing director for the 11 person team based in Austin. Austin has been one of the hottest growth markets in the country. With a 20-34 year old population approaching 500,000, nearly a quarter of Austin’s population consists of Millennials, which is tops among the largest U.S. markets. Business costs are cheaper than Silicon Valley, so Austin has been the recipient of many HQ relocating to Central Texas. (It doesn’t hurt that Chip and Joanne Gaines, from the show Fixer Upper, have convinced many families to relocate to Waco in Central Texas) Scott & Zar discuss what apartment investors should understand about buying properties in Central Texas.

To contact Scott Lamontagne: Scott.lamontagne@am.jll.com
To contact Zar Haro: Zar.Haro@am.jll.com
To contact Dave Walls: DWalls@oldcapitallending.com

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.