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Commercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request Package
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About Commercial Mortgages 101: Everything You Need To
Product Description For those in pursuit of commercial real estate opportunities, learn the tools to be successful in this helpful guide by an expert in the industry. Independent commercial real estate broker Michael Reinhard has been leveraging the financial benefits of our strong economy for years. In this practical and insightful guide, he offers advice to help others in their pursuit of commercial real estate endeavors. By providing a thorough overview of commercial mortgage underwriting and credit analysis, Commercial Mortgages 101 teaches you how to: think and speak like a commercial real estate lender; quickly size and under write basic commercial real estate loans; prepare personal cash flow statements; read and interpret lenders’ preliminary loan proposals’; create a Schedule of Real Estate Owned; And prepare a persuasive and professional loan request package. Credit and financing issues pose the greatest challenges to prospective borrowers attaining the money and mortgage terms they need. Whether you’re a real estate investor or a mortgage broker trying to decide on the right form of ownership (LP, LLC, Co-tenancy, or others) or you need to calculate your true net worth and liquidity to ensure your loan is approved, Commercial Mortgages 101 is your start-to-finish guide to success. Review "a useful tool for the business person looking to get into the commercial real estate space while prices are cheap" --Houston Business Journal Book Description With real estate prices at their lowest in years and the economy poised for a rebound, it’s an opportune time to invest in commercial real estate. But credit and financing issues can still pose challenges that prospective borrowers must overcome in order to get the money and mortgage terms they need. Commercial Mortgages 101 is a step-by-step guide for both real estate investors and mortgage brokers, offering insight, practical tools and a thorough overview of commercial mortgage underwriting and credit analysis. Readers will learn how to: Think and speak like a commercial real estate lender • Quickly size and under write a basic commercial real estate loan • Prepare a personal cash flow statement and calculate true net worth and liquidity • Read and interpret a lender’s preliminary loan proposal • Create a Schedule of Real Estate Owned • Prepare a persuasive and professional loan request package • Choose the right form of ownership (including LP, LLC, Co-tenancy and others) • And more Both thorough and timely, Commercial Mortgages 101 reveals what readers need to ensure their loans are approved. From the Back Cover Whether you’re a residential mortgage broker looking to break into the commercial mortgage brokerage business or a beginner real estate investor looking to transition from small residential properties to large commercial investment properties, learning how to think and speak like a commercial real estate lender will put you on an even playing field with the professionals. Commercial Mortgages 101 takes you step-by-step through the entire process of applying for a commercial real estate loan and putting together a professional loan request package. Clarifying common industry terms such as “debt-service-coverage-ratio” and “balloon payment,” and including a sample Real Estate Owned (REO) Schedule, this easy-to-follow beginner’s guide touches on all key aspects of what can all too often be a mystifying and confusing process. You’ll learn how to: • Correctly apply and use a variety of commercial mortgage terms and phrases. • Read and interpret a lender’s preliminary loan proposal. • Quickly size and underwrite a basic commercial real estate loan. • Prepare a persuasive and professional looking loan request package. • Identify the different types of non-income and income-producing commercial properties. • Prepare a personal cash flow statement and calculate your true net worth and liquidity. • Create and use the all-important Real Estate Owned (REO) Schedule.
