57: Qualifying for Multifamily Apartment Building Loans f/ Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 13 November 2015

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

#57: Keith comes to you from Little Rock, Arkansas today.

Our guest is Old Capital Lending’s Michael Becker of Dallas, TX, to tell us about originating Multifamily Apartment Building loans.

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Listen to this week’s show and learn:

01:05 Keith is in Little Rock, Arkansas this week for an investment real estate tour.

04:53 Michael Becker of Old Capital Lending appears.

06:50 Single Family Homes vs. Multifamily Apartment advantages / disadvantages.

08:57 Recent happenings in this lending space.

10:20 Loans for 5+ unit residential property are called commercial loans.

11:55 Multifamily commercial loans are primarily qualified by the asset, not the borrower.

15:48 Residential 1-4 lending is like a formulaic science; multifamily commercial 5+ is closer to an art.

17:48 Debt Service Coverage Ratio (DSC or DCR). 1.25 minimum is typical.

19:00 How much liquidity do you need for a multifamily loan?

21:12 Borrower credit scores.

24:10 Loan duration.

26:08 Balloon payments, Pre-payment Penalties, Assumable Loans.

29:26 Recourse vs. Non-Recourse Loans. “Bad Boy Carve Outs.”

31:26 Can you buddy up with friends to buy a big apartment building together?

34:38 Qualifying for multifamily property loans out-of-state.

35:49 Higher closing costs for apartment building loans

39:32 How many states does Old Capital lend in?

Resources:

OldCapitalLending.com - Multifamily / commercial lending.

SPIAdvisory.com - Michael Becker’s syndicating company.

MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Turnkey Cash-Flow Investment Property.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

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Transcript

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0:00.0	Get Rich Education is brought to you by Norrata Real Estate Investments and Mid-South Homebuyers.
0:10.8	Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires
0:22.7	than anything else and can provide you with more wealth and happiness than you ever thought
0:28.2	possible. Now, here's your host, investor, entrepreneur, business owner and educator, Keith
0:36.2	Weinhold.
0:46.9	Welcome to Get Rich Education, episode 57. I'm your host, Keith Weinhold, and I'm back to help you build your wealth with the show that's educational, actionable, and inspirational.
0:53.8	This is the second episode of a series of three
0:57.0	consecutive shows that I'm doing to help you best understand your mortgage loan, and this
1:02.3	week I'm coming to you from location here in Little Rock, Arkansas. I'm here at Little Rock's
1:07.6	Capitol Hotel, which is the same hotel where my wife and I are staying.
1:12.0	It's a pretty nice four-star place right in the heart of downtown here.
1:16.8	Someone told me that it's the nicest hotel in town.
1:19.5	I'd believe it.
1:20.6	It's kind of the historic luxury hotel here.
1:23.5	I've been reading about the Capitol Hotel.
1:25.2	It opened in the 1870s.
1:29.1	President Grant stayed here. It's been used about the Capitol Hotel. It opened in the 1870s. President Grant stayed here.
1:34.4	It's been used for a lot of political announcements. In fact, this served as President Clinton's local headquarters during his presidential tenure. So, yeah, I want to do Little Rock right. It's my first
1:42.2	time here, and the reason that I'm here is specifically for
1:45.4	a investment real estate tour. My wife and I don't know anyone in Little Rock other than the
1:51.2	real estate provider that's giving us a tour tomorrow. And yes, I've come here solely because I like
1:57.2	traveling and learning about cash flow producing real estate markets, and I can share this
	...

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