ASK MIKE MONDAYS - Michael, would you talk a little bit about the different loan covenants offered to a well-qualified seasoned guarantor compared to a newer sponsor?

Michael sheds light on the various restricted language sometimes found in the loan documents that lenders will add or subtract based on the sponsors apartment ownership experience level, past repayment history with the lender and size of the loan transaction. Also, Michael gives another reason why investors like real estate investing. HINT: Great Tax Advantages.