Terry Painter is the author of “The Encyclopedia of Commercial Real Estate Advice” – A Wiley Publication, and a Number 1, New Release on Amazon in 2020. He is also a contributing writer for Forbes.com. Terry is the founder of Apartment Loan Store and Business Loan Store – commercial mortgage banking and advisory firms that have closed over four billion dollars in commercial loans since 1997. We talked to Terry about the importance of understanding the submarkets, loans products and his book “The Encyclopedia of Commercial Real Estate Advice”.
Announcement: Download Our Sample Deal and Join Our Mailing List [00:01 – 03:33] Opening Segment
Terry talks about his background.
He talks about the changes in the market throughout the years.
Why have the cap rates compressed over the years?
[03:33 – 11:12] Long Shots
The importance of understanding the submarkets.
Why you should focus on the longer opportunities.
Terry talks about the equity multiple
How can you work out a B class property in an A class neighborhood?
John and Terry talk about loans and prepayment penalties.
[11:12 – 28:13] All About Loans
Terry talks about what loan product is right for your business plan.
How credit unions can cut you a sweet loan deal.
He talks about why bridge lenders are a good option.
Some of the elements other than interest rates when looking at loan products.
The impact of inflation in the real estate industry.
He talks about some of the lesser-discussed elements of a loan.
Terry talks about his book.
[28:13 – 33:38] Round of Insights
A small apartment complex he bought with his mother.
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“If you want to vouch for it with your mouth, you need to really be able to see it with your eyes.” – Terry Painter
“The price is just not as important as your business plan and your knowledge of the submarket” – Terry Painter “Do not fall in love at the first sight. Really get to know that property.” – Terry Painter
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