RCRE - When Is The Best Time to Refinance?

Jake and Gino Multifamily Investing Entrepreneurs

Jake & Gino

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5 • 831 Ratings

🗓️ 3 June 2020

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Taravella interviews Will Coleman about the best time to refinance Key Information: Community banks have various seasoning periods ranging from 1-3 years depending on the bank Agency banks generally like to have 1-2 year seasoning period When you refinance the banks like for you to have “skin in the game” Know your prepayment penalties (yield maintenance or step-down) Yield Maintenance is calculated by taking the net present balance of the loan and multiplying it by the difference in the interest rate on the loan and the correlating bond yield. Step down is calculated as taking a predetermined percentage and multiplying it by the loan balance. If it is a 5-year term generally your step down will be 5% year 1, 4% year 2, 3% year 3, 2% year 4, and 1% year 5. Refinance is about helping you execute your long-term plan for the property Expert Pro Tip: Know who and what you are, be clear on that, meditate on it, and then live and die by it (Nipsey Hussle) Contact Information: [email protected] www.randcapllc.com www.randcre.com To register to invest with us: https://invest.randpartnersllc.com/invexp/accounts/login/ Rand CRE's Facebook: https://www.facebook.com/randcre Rand CRE's Linkedin: https://www.linkedin.com/company/randcre Rand CRE's Instagram: https://www.instagram.com/randcre

Transcript

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0:00.0	Welcome to the RANCRE show, commercial real estate with no stone left unturned.
0:09.8	Hi, everyone. Welcome to the RANDCRI show. I'm your host, Mike Tarvella. We have our co-host guest,
0:17.8	finance extraordinaire, Will Coleman. How's it going will go well mike how about yourself
0:23.1	you know just living a dream or is uh taking the marathon one step at a time there you go stealing
0:28.9	the tagline i like it so we figured this would be a little more intimate of a podcast because
0:34.2	there's a lot of questions regarding refinance.
0:37.5	People want to take advantage of the historic low interest rates.
0:41.9	And there's just a lot of questions we've seen in bigger pockets,
0:45.1	Jake and Gino community, experts everywhere.
0:49.2	So we wanted to have Will as our co-host guest, like I said, extraordinary,
0:57.5	go over some of the refinancing opportunities.
0:58.5	I think the biggest thing, Will has an expertise and is the ability, he's seen community,
1:05.1	he's worked with agency, he's seen it all.
1:07.8	So I think the number one question I think investors need to be aware of is the
1:12.0	seasoning periods between the two different groups. So Will, can you dive deeper in on what investors
1:17.4	need to know between the two groups, whether it's community or agency? Sure, yeah. So first of all,
1:23.4	I don't accept the financing extraordinaire, and I definitely have not seen it all.
1:29.4	Still learning and seen a lot, but you know.
1:32.4	He's a student of the game.
1:33.9	Yeah, that's right.
1:34.6	Always learning.
1:36.9	But yeah, so I worked at a bank for just over two years and then now I've been, you know,
	...

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