Cambridge Tues 9/17: Commercial Lending 101

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09/17/2019 5:30 PM - 09/17/2019 9:00 PM
Cambridge Innovation Center - 5th Floor
Address: One Broadway, 1 Broadway, Cambridge, MA 02142, USA

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 will give you the perspective you need to grow your income property business.

We'll start by covering the different expectations in the commercial world vs residential mortgages. Maturity date, rate, and down payment are just the beginning. We'll also cover minimum loan amounts, and prepayment penalties. Next we'll 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'll cover the application process. We'll show you what lenders look for and what kinds of projects may not be lendable (including some renovation work or empty buildings). We'll 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'll talk about this and about the collections process, in case you want to buy a commercial foreclosure. Finally we'll cover special cases, including portfolio lending, lines of credit, and transferring properties into an LLC.

This presentation will be given by Michael Travaglini, MassLandlords member, and George Drugas, both of Brookline Bank.

brookline bank
Commercial Lending 101, taught by Brookline Bank. Image Google street view.

Have you seen our Leave Stuff, Take Stuff Table?

Market your business, pick up handouts, give away an old doorknob. Everything goes on our first-come, first-served display table at all our events. Please bring business cards, brochures, coupons. And feel free to pick up your own uncollected marketing materials at the end. Everything not claimed end-of-night may be chucked.

"No Sales Pitch" Guarantee

MassLandlords offers attendees of directly managed events a "No Sales Pitch" guarantee. If a guest speaker offers services, their presentation will not discuss pricing, promotions, or reasons why you should hire them. We do not permit speakers to pay for or sponsor events. Guest speakers are chosen for their expertise and willingness to present helpful educational content. Your purchase of an event ticket sustains our nonprofit model.

Tuesday, September 17th

Cambridge Meeting Agenda

  • 5:30pm Sign-in and Networking
    • Networking draws from Cambridge, Boston, Somerville, Arlington, Belmont, Watertown, and Malden.
  • 6:00pm Buffet Dinner
  • 6:40pm Executive Director Doug Quattrochi with the MassLandlords Business Update
    • Member Minutes - Any member can have the mic for 60 seconds (introduce yourself, ask a question, share words of wisdom, etc.)
  • 7:00pm Commercial Lending 101
  • 8:30pm Networking
  • 9:00pm Doors close

Location

Cambridge Innovation Center
1 Broadway (5th Floor)
Cambridge, MA 02142

Please note: CIC has several buildings in Kendall Square, two of them being adjacent to each other. The correct location for this event is the building with light colored concrete, vertical windows and a Dunkin Donuts on the ground level. You will NOT see a CIC sign. Refer to the image below.

venue

ID required Upon entering One Broadway, you will need to check in with the lobby security. You'll just need to show your ID and let them know you're going to the MassLandlords event in the 5th floor Venture Cafe.

Accessing from the T

  • Exit the Kendall T stop on Main St.
  • Cross to the northeast side of Main St. with the Marriott and Chipotle and walk down the street away from Cambridge towards the Longfellow Bridge to Boston.
  • Cross through the plaza with the five-foot high metal globe; One Broadway is the building undergoing construction across the next street.
  • Cross over Broadway to arrive at One Broadway.

Parking

Just $10 at Pilgrim Parking, enter after 4pm, a two-minute walk from One Broadway, click here for details. Be careful, some garages are $30. Accessible by T (red line Kendall Square) and highway. For additional parking options see CIC Directions.

Food

  • Buffet, incl. salad and rolls
  • Water, sodas
  • Cookies

*Dietary restrictions: purchase an early-bird ticket and email hello@masslandlords.net, we will accommodate you.

Leftover food is donated to members and/or homeless shelters.

Pricing

Open to the public. Membership is not required!

  • Door:
    • Public: $24
    • Members: $19
  • Early-bird, reserve seven days prior by 12pm:
    • Public: $22
    • Members: $14

Nametags are printed for early-bird public, early-bird member, and premium members only.

Extra Credit

  • First time attendees: Join as a member before leaving the event, your public ticket will be credited toward membership.
  • Members: Bring a first-time attendee who joins at the event, your membership will be extended by one month free. No limit.

 

Click here to purchase tickets for this event

This event is operated by MassLandlords staff. Check in with your MassLandlords ID card.

Want to speak at a MassLandlords meeting? Submit a speaker request.

This is part of the Boston/Cambridge rental real estate networking and training series.

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