Commercial Loans 101
Whether you're coming from the point of view of individual landlording, or if you're an experienced corporate landlord looking to get the latest industry update, this presentation on commercial lending gives you the perspective you need to grow your income property business. Wee cover the different expectations in the commercial world vs. residential mortgages. Maturity date, rate, and down payment are just the beginning. We also cover minimum loan amounts, and prepayment penalties. Next we cover properties where commercial lending does not apply, and talk about how even owner-occupied properties might need or benefit from a commercial loan. We also cover the application process, showing you what lenders look for and what kinds of projects may not be lendable (including some renovation work or empty buildings).
We also cover the major difference with residential mortgages, which is ongoing reporting requirements during the life of the loan. Unlike with residential mortgages, where maturity means the loan is paid off, commercial mortgage maturity often results in refinancing and ongoing debt. We talk about this and about the collections process, in case you want to buy a commercial foreclosure.
Finally, we cover special cases, including portfolio lending, lines of credit, and transferring properties into an LLC.
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