Get step by step help financing your apartment deals. Apply to be my next protege here: www.commercialpropertyadvisors.com/protege-program
@SamandAl2013 Жыл бұрын
How has this information changed for 2023?
@CommercialPropertyAdvisors Жыл бұрын
@@SamandAl2013 The fundamentals shared in this video have not changed.
@joeytunez3 жыл бұрын
Paused halfway through this is the very best video on commercial property and did not waste my time at all. He even gives you the exact credit score! Thank you!
@kennynoel28639 жыл бұрын
Peter, I appreciate what you do. You go into great detail to explain to the most uninformed person. Thank You.
@odanaerfhuish3616 жыл бұрын
Kenneth Noel jh vv
@jaimewells17253 жыл бұрын
You probably dont care but does any of you know a tool to log back into an Instagram account..? I stupidly forgot my account password. I appreciate any tricks you can give me.
@MetalBum2 жыл бұрын
Hey Kenny did you buy lots of property following Peter all these years?!?!?!
@deborahanndocimo68907 жыл бұрын
Thank you so much, Peter! I feel that you are personally mentoring me only! You are so detailed and meticulous in your explanations and teaching that my grasping of information is exact! Thank you for this wonderful experience!
@24skis9 жыл бұрын
Peter, you are a very good teacher. Thank you.
@DesmanGoodson11 ай бұрын
exactly he's the true teacher i want to meet him one day😊🎉
@jtorresdigitalyworld7 жыл бұрын
Sir, you are a real professional explaining and presenting a subject that many people find difficult. I really enjoy all your videos!!!
@edwinronquillo81953 жыл бұрын
Guy is great!
@Incredible-Insights282 жыл бұрын
Thank you so much Peter! I just purchased your book on Amazon to get started in the Commerical property business I will start in 2023. You have gave me the inspiration to get started! Thank you again!!
@inglewoodhairbiz9 жыл бұрын
Peter I just discovered your channel and I have watched about 5 or six videos. This a wealth of information. I have purchased properties in the past and actually gotten advice that contradicted some of the info you share. I bought a duplex instead of buying 5 units because my agent told me I would more consequences. I will buy the book today continue to watch.
@emmasoul472 жыл бұрын
I do really appreciate and enjoy your way of explaining and simplifying matters, you’re the best. God bless your heart
@ledaleatsfeast5 ай бұрын
Thanks Peter, I've been studying real estate content since I was 16 (I'm 19 now, 20 soon) and you have opend my eyes in many ways. Thnk you again!
@CommercialPropertyAdvisors5 ай бұрын
You are welcome! Congratulations on getting started early in life.
@cullen21062 жыл бұрын
Thats a very Good thing for me to hear about And thats The Truth of The matter of fact Sir.!'
@deanthonyhardison75757 жыл бұрын
Great video man. Extremely informative, thank you.
@mosesnh7 ай бұрын
Great content , practical advise and hands on knowledge. Thank you.
@CommercialPropertyAdvisors7 ай бұрын
Thanks for watching!
@goalsfirst28953 жыл бұрын
Right Petter! of course Now i know exactly what DCR is and a lot a more information thanks to you, Thanks Petter!
@brad82796 жыл бұрын
Another great video. Great info, good pace, clear delivery.
@workingshlub88618 жыл бұрын
good video..knew commercial was 5 or more units..didnt realize they always want a bigger down payment. i deal in 2 and 3 family buildings.
@dorismcrae19397 жыл бұрын
Hello Peter, when calculating the DCR, does the mortgage amount include taxes and insurance? I'm asking this question because taxes and insurance aren't debt but are included in the mortgage payment.
@CommercialPropertyAdvisors7 жыл бұрын
No. Only the Principal and Interest.
@brucec66879 жыл бұрын
You rock Peter. Thanks for your contribution to success.
@ryanpeavler14837 жыл бұрын
Amazing information in all your videos. Your service here is invaluable. Thanks bud.
@DesmanGoodson11 ай бұрын
Am learning more on this platform, i want to start real estate business.
@simaphore Жыл бұрын
Sir, your content is gold
@RexTVRex6 жыл бұрын
Respect to you sir. My virtual mentor
@HarvardHall25 жыл бұрын
Thank you for this AMAZING video! I learned a lot.
@tdan8193 жыл бұрын
Thanks, Peter. Your videos are so informative.
@marcusrodriguez9843 Жыл бұрын
Thank you. We all appreciate it.
@mariap.79073 жыл бұрын
That was so great and informative thank you for your time.
@userinvalid78866 жыл бұрын
SUBSCRIBED!! Can't thank you enough for sharing this great content.
@relentlesskst12319 жыл бұрын
Peter I love the video. Actually all your videos. I had a question. Do all commercial apartment loans have 5 yr balloons? Or arms? Most I've seen do. Are they a at apartment loans out here that are fixed for 15,20 or even 30 yrs? Please make a video about this and maybe how people take the balloon and then try to refinance before the note is called.
@CommercialPropertyAdvisors9 жыл бұрын
+relentless kst YOu can get them for longer periods but that often raises the interest rate. Even 30 year amortized loans usually balloon at 10 years as a max.
@kpinolever Жыл бұрын
I would like to do both, I'm interested in owning properties but also wholesale is good for businesses.
@melsi9994 Жыл бұрын
Looks a lot like the residential loan process, i'm looking to invest in an apartment building have a good amt of assets but was laid off from job as a mortgage banker.
@mushue115 жыл бұрын
Peter, As always another excellent video! Thank you!
@jeffersonmartinez70187 жыл бұрын
great video Peter. and thank you specifically for covering DCR (debt coverage ratio) in detail. Question Peter, with rising costs of living, I find it difficult to save money for my first multi family deal. What advise would you give to save and make more money to make my first deal more obtainable? Also, how many units do you recommend to mitigate the possibility of failure in multi family? Is bigger better? The more I research, the more I belieave that it is better.
@CommercialPropertyAdvisors7 жыл бұрын
Your two options would be to either create some cash by wholesaling some deals OR you can work on raising private money for a down payment and then structuring creative financing for the rest of the purchase. Check out this video: kzbin.info/www/bejne/iqavaKagi62cZtE
@jeffmetzler89982 жыл бұрын
Love the ongoing great information, sir.
@clarkewi6 жыл бұрын
Excellent instructor. I'm gonna buy his book.
@jerrygandia26507 ай бұрын
Good evening Peter, on the subject credit you mentioned a term master lace? Can you point me to the video. Thank you hope all is well.
@CommercialPropertyAdvisors7 ай бұрын
Sure! Master Lease for Commercial Real Estate: kzbin.info/www/bejne/r33KpYKhaZ2pobM
@carloswilliams15217 жыл бұрын
Great videos Peter. So after 10 years, would the owners have to re-finance? Or would the owner have to pay variable rates for the remaining 20 years of commercial mortgage. Did I misunderstand or are commercial loans 30 years?
@CommercialPropertyAdvisors7 жыл бұрын
30 year amortization but a 10 year balloon. The owner MUST refinance by the 10 year mark.
@camellialiddell8017 жыл бұрын
Commercial Property Advisors Thank you Peter. I'm studying all of your material. I really appreciate it.
@orlandopaez25935 жыл бұрын
Hi Peter much respect for all the information you provide for us who know little to nothing about commercial investing. Found a property In CA the owner is asking for 1.2 M. For 8 studio Units. Total Operating Expense is about 20K. NOI about 51K and says Net Income shows at 51K I'm a little confused here. All this numbers are for 2019 .. Help is greatly taken. What's your advise.
@marklerma103 жыл бұрын
Good information as always!! Great content,
@khurrammirza12933 жыл бұрын
excellent training!! Just amazing
@bosrentals63463 жыл бұрын
Fantastic course. Thank you!
@scottsutherland14552 ай бұрын
These was awesome, thanks for the info
@CommercialPropertyAdvisors2 ай бұрын
You are welcome! Thanks for watching.
@annjohnson15577 жыл бұрын
Hi, what is the name of the website that you mentioned to get a list of properties?
@roadmanhuff6 жыл бұрын
Great video Peter, thanks.
@maxinegardner27365 жыл бұрын
How do you determine the value the sellers are asking too much for their 4 bedroom apts.. Rio rancho NM.
@CommercialPropertyAdvisors5 жыл бұрын
Look at comparable sales as well as calculate the NOI and determine if the Cap Rate is on par with the area
@amandapatterson38322 жыл бұрын
I love the work, keep it up!!
@stevemyopinion4238 жыл бұрын
what if you have no credit. but you have the CASH to put as big as a deposit at they want even up to 80 percent down. would that help
@CommercialPropertyAdvisors8 жыл бұрын
+az21bob666 Commercial lenders aren't concerned with your personal credit score, typically. They ARE concerned with your experience, net worth, etc. Please watch my video on buying commercial real estate without a bank loan: kzbin.info/www/bejne/r33KpYKhaZ2pobM
@itamaras.19087 жыл бұрын
@Commercial Property Advisors: If the seller(s) has chosen to advertise with a realtor and you became aware of the property because of their advertising, can you still reach out to them (the sellers) and seek to purchase without going through a bank? In other words, if a seller has advertised this way, are they legally bound to using the realtor in their transaction?
@CommercialPropertyAdvisors7 жыл бұрын
Most likely they have signed a listing agreement with that real estate agent.
@dhixson499 жыл бұрын
Peter, we are looking to do a deal with a small town owner of a 12 plex (8 rooms for rent with 4 apartments) and a restaurant below the hotel. The owner is retiring. The area has a huge housing shortage because in the last 2 years, 3 large plants/companies are doing major projects (ie: $264 million, $130 million, $1.6 billion). That is correct no typos. Altho the hotel/rooms will be tiny in comparison to the economic needs in this area. We see it as a great opportunity. The owner hasn't kept very good records, a few things wrote down for the past 3 years. He has done no advertising. Hotel is located on the main highway going through town, the businesses 20 - 30 min away, many tourist events in this town, mechanics of building have all been rehabbed, during the next 2 years with construction of temp construction workers then permanent workers this area will increase by over 4,000 new jobs. Yes the numbers are all right, we have info from each company stating the numbers. We are talking with the bank that carried the previous owner's loan next week. Now I'm worried because of the info kept by the previous owner. Do you have any suggestions or since this bank has already been working with this owner and know the economic situation we should be ok? I appreciate all your videos, have learned a lot! Dee
@Commvestor16 жыл бұрын
Apartments is a good niche to get into.
@daquanmccoy3 жыл бұрын
6 years later still very informative thank you
@rkalla6 жыл бұрын
This video was amazing
@merlin86753092 жыл бұрын
Newbie Question... Step 1 is sending 3-years of financials. But I understand that brokers require an LOI before they'll release financials. But the bank needs them. So I write the LOI first, before contacting the lender? Do I need an accepted LOI before I see financials? Thanks!
@wholesalingtony15889 жыл бұрын
Interested in learning more and actually purchasing a small apartment building. I would like to obtain financing first and I've met except for the credit requirement. What can I do?
@CommercialPropertyAdvisors9 жыл бұрын
+Wholesaling Tony Watch as many of my videos as you can. You may discover some ways to reach your goals without going the traditional bank financing route.
@taniavo3045 Жыл бұрын
GREAT VIDEO!!! THANK YOU!
@khalilmason8 жыл бұрын
I love this guy: I can see how he could be successful.
@nicolasmiranda8537 жыл бұрын
Thank you for sharing. Very informative.
@davidbaker4879 Жыл бұрын
Thank you love your content
@havefunoutthere63786 жыл бұрын
Great video. Thank you.
@CokeysCasino4 жыл бұрын
Do commercial lenders require property management
@CommercialPropertyAdvisors4 жыл бұрын
Yes, unless you personally have a proven track record for property management
@davidcarter30662 жыл бұрын
What are some good loan companies that'll give you funds for Building multi family apartments? I want to get started but I’m stuck on that part. Thank you
@supremo44333 жыл бұрын
I'm 26 years old with bad credit but I have 100,000 cash steady income but it's low income since I work at a gas station and no other assets. How hard would it be for me to get a loan for a commercial building ?? I feel like the bank wouldn't think I'm worthy enough
@KustomKrosses Жыл бұрын
At what point do you put the property on contract? They won't accept my offer without a pre-approval, but i cant get a pre-approval without a purchase contract
@CommercialPropertyAdvisors Жыл бұрын
Pre-approvals are provided BEFORE you have a property under contract.
@mckennamoss91217 жыл бұрын
What if the property is worth a lot more than the purchase price,LTV of 50-60%? If a large chain bank like bb&t or Pnc are they still going to want the 25%? Thanks
@CommercialPropertyAdvisors7 жыл бұрын
Yes. The bank will give the appraisal some consideration; but the purchase loan will be based on the purchase price, not the appraisal. You can refinance about 12 months later and pull your cash back out.
@kscooking41334 жыл бұрын
On the 10 step loan process, is there anything I could do before step 1 to see how big of loan I can qualify for? Thank you, and appreciate the clarity.
@carlosjimenez6302 жыл бұрын
Thank you this was helpful
@mckennamoss91217 жыл бұрын
thank you so much for your response
@rosechallenger28947 жыл бұрын
I have a commercial property fully paid off. Would I be able to apply for this loan? would like to make some upgrades and repairs.
@CommercialPropertyAdvisors7 жыл бұрын
Maybe
@RexTVRex6 жыл бұрын
.
@DreamsLoopsTruths4 жыл бұрын
How are deals being done today? Are commercial banks lending money on this market?
@jeffreyjacques64714 жыл бұрын
Sir, appreciate the video. I have a quick question for you. 1. I own a couple of multi-family homes and last year got into a flip. I got in a little over my head and as a result I acquired some 30-day mortgage late payments on my multi-family homes within the last year. My credit is now up to par but will the 30 day mortgage lates effect me obtaining a commercial loan? On the residential side most lenders usually require one year clean on time mortgage payments in order to purchase another property or refi.
@stevenanderson33869 ай бұрын
Hi I’m newer investor been investing in Realestate part time for about 6 years and have a portfolio of 5 houses and 1 commercial automotive property with 12 units total. I Have a decent 18unit apartment building I’m looking at off market and need a private money lender to help with down payment and rehab. Any recommendations would be much appreciated.
@CommercialPropertyAdvisors9 ай бұрын
Watch this video on Multi Family Syndication: www.commercialpropertyadvisors.com/multifamily-syndication/
@watermeloncaviar59597 жыл бұрын
Great Advice Mr. Peter, I have a question can you use a VA Home Loan to obtain a Commercial Property
@CommercialPropertyAdvisors7 жыл бұрын
No
@joshbenjamins6 жыл бұрын
The VA will do a loan up to a fourplex as long as you live in one of the units. VA also allows for a rehab loan of the property somewhere in the ballpark of 30K.
@ExplorerLink2 жыл бұрын
Great info! Thank you!
@leoneye909 Жыл бұрын
Thanks for sharing sir 👍🏾
@bk14ridyinstallationsllc542 жыл бұрын
Hello Peter, do you do personal coaching an take on an students
@CommercialPropertyAdvisors2 жыл бұрын
Yes. Apply to my Protege Program here: www.commercialpropertyadvisors.com/protege-program
@genetics749 жыл бұрын
Does this process occur prior to talking with the seller? In other words should you have approval before going to speak to the seller about purchasing the assetl and if not does it look bad to get approval from a lender for a commercial property and then decide to not do the deal?
@CommercialPropertyAdvisors9 жыл бұрын
+genetics74 It's quite normal to get an approval and then decide not to do the deal. Obtaining the pre approval usually comes after the LOI stage
@ishansiewdath97358 жыл бұрын
any videos about property management ?
@CommercialPropertyAdvisors8 жыл бұрын
As a matter of fact, we do! Watch this one: kzbin.info/www/bejne/n3qmgGaXncSNnpI
@williamclarke52308 жыл бұрын
Why do investors shy away from class "A" properties? Why not hold on to a class "A" property long term rather then a class "C" and risk the investment?
@CommercialPropertyAdvisors8 жыл бұрын
Class A has very low returns, high prices and usually only makes sense for big institutions that have enormous piles of cash and are happy with very low returns.
@abelhurwitz88873 жыл бұрын
Need your assistances buying my first units
@RandalColling7 жыл бұрын
"Hard Money" really means, super high interest rates. This means the property will NOT cash flow at all. Don't do "Hard money" loans unless your wanting to do a fast flip.
@orange21158 жыл бұрын
great videos man! i keep looking over them. I was just wondering, what is the absolute limit? surely it's not 5m for everyone. is there a difference for real estate loans and business loans? (if i managed to obtain a net worth of 250-500m)
@kingdyadouglaslilsword10 ай бұрын
❤
@goodfella9985 жыл бұрын
great info
@brian18014 жыл бұрын
I apologize ahead of time for the comment but it needs to be said. Often. Here is a man of color who is someone to respect, admire, look up to -- a role model. Lionize him, not some thug and criminal. More people like him is how you put an end to racism. Not looting and protests. Again, I apologize, but like many people, I am fed up and have had enough.
@razamian73792 жыл бұрын
Thank you sir great information 👍
@bobmarly8846 жыл бұрын
What if you’re in debt because of student loans? Will that impact how they look at your net worth or will they understand?
@CommercialPropertyAdvisors6 жыл бұрын
Yes, it will impact your net worth. It's debt that you must pay back.
@SuperColoradohomes9 жыл бұрын
If they do not lend to a particular area they are violating federal laws. They might tell you that but it is illegal lending practice and can have heavy legal issues accompanied by that type of denial.
@silverechohawk53152 жыл бұрын
Is this information still relevant now since the pandemic, etc.? A lot has changed in the past couple years and inflation is now a big concern.
@CommercialPropertyAdvisors2 жыл бұрын
Absolutely! The interest rates are higher but the information in this video is certainly still relevant.
@wiredhermit46603 жыл бұрын
The money is not my problem. I'm always looking for deals though.
@kevinkennedy27446 жыл бұрын
Peter - I have 9 SF rentals and your video and getting me to think about MF complex’s. Did you sell all your SF homes to get into the business or do you have a mix?
@CommercialPropertyAdvisors6 жыл бұрын
Sold them all.
@rapaddictsupreme9 жыл бұрын
Great information but what about something more realistic for the average Joe trying to get started? The average person doesn't have 20% down for a $750,000 piece of property ($150,000).
@CommercialPropertyAdvisors9 жыл бұрын
+Louis C Oftentimes, enterprising individuals raise the money from private sources if they don't have the required down payment. If the deal is good enough and you have enough wisdom on what to do, you can find a way to acquire the deal.
@rapaddictsupreme9 жыл бұрын
+Commercial Property Advisors I understand but you didn't explain how to obtain cash from "private sources". You just mentioned a person needs 20% down for the $750,000 apartment and that was it. This "wisdom" I thought you would explain in the video. This is why I made the comment about setting more realistic goals for the average Joe who could work with a property that costs much less. Anyway, thanks for the video!
@CommercialPropertyAdvisors9 жыл бұрын
+Louis C Banks want down payments and they don't like when you raise it from private sources. There are other ways to acquire commercial real estate that don't involve bank loans though. Watch this video: kzbin.info/www/bejne/r33KpYKhaZ2pobM
@sliqwille7 жыл бұрын
The average Joe isn't going to buy a $750K deal.
@billgreen15436 жыл бұрын
sliqwille this isn’t for the average joe.
@scottlweston2 жыл бұрын
Thank you for sharing this, Peter!
@benjamingabin14276 жыл бұрын
Hi Peter. Ben Gabin here. I just applied to your protege program. Could you train me in the conversation to have with a seller to do a master lease on the property? I remember you saying that you get their motivation and structure the deal around that. Thank you.
@CommercialPropertyAdvisors6 жыл бұрын
That and 1,000 other things are what we can help you with as part of that Program.
@mxrt4l3036 жыл бұрын
thanks man!
@timriehm565 жыл бұрын
I would love to go over my business plan with you and hear your advice on it. Is there any way we can connect
@gaximedia4 жыл бұрын
How can I get in contact with you?
@CommercialPropertyAdvisors4 жыл бұрын
You just did
@MichaelP_IsMe3 жыл бұрын
So how does a poor guy like me raise enough money to supply the 20% down payment? I know absolutely nothing about this kind of stuff. I'm just a little guy with a big idea for a 200+ unit complex in a booming area with lots of families and 2 major universities packed with students, graduates, young working professionals, and young couples just starting families. There's many complexes around here (and I've lived in some of them and had friends in many more), but they're all the same old boring complexes. My idea would be a very social and fun complex for anyone from a new college student to a single working graduate to a couple with kids that would blow all the other complexes out of the water. Like I said, I'm just a little guy with a big idea, no money and no idea how to pay for it. I have a friend who's an architect and another friend who's a developer licensed to build up to 7 stories high and has built anything from homes to hotels, but I have no money and zero experience in this sort of thing. That's my problem, and I have absolutely no idea what to do about it. What can I do?
@CommercialPropertyAdvisors3 жыл бұрын
Watch this video: kzbin.info/www/bejne/iqavaKagi62cZtE
@MichaelP_IsMe3 жыл бұрын
@@CommercialPropertyAdvisors Thank you so much Peter! I will watch it now.
@unicornglamor74072 жыл бұрын
DON'T GET DISCOURAGED BY THE NETWORTH REQUIREMENT. THERE ARE LENDERS WHO ARE COMPLETELY ASSET-BASED, AND DON'T CARE ABOUT YOUR NET WORTH. (YOU MAY NEED DECENT CREDIT, EASIER TO GET THAN $1M IN THE BANK IF YOU'RE NEW.)