When you buy a single family house, AND AFTER THE LOAN CLOSES, your lender will not continuously ask for your updated paychecks, bank statements and annual income tax returns. BUT...in apartment transactions…you lender is your single largest partner and needs continuous financial performance information on you and the asset either on a quarterly or annual basis. Updated operating statements, rent rolls, rehab construction updates, immediate health and safety concerns, updated personal financial statements, personal tax returns are some of the data points collected. Also, be prepared for an annual lender visit to your asset.
View all episodes
By Michael Becker & Paul Peebles
4.9
515515 ratings
When you buy a single family house, AND AFTER THE LOAN CLOSES, your lender will not continuously ask for your updated paychecks, bank statements and annual income tax returns. BUT...in apartment transactions…you lender is your single largest partner and needs continuous financial performance information on you and the asset either on a quarterly or annual basis. Updated operating statements, rent rolls, rehab construction updates, immediate health and safety concerns, updated personal financial statements, personal tax returns are some of the data points collected. Also, be prepared for an annual lender visit to your asset.
709 Listeners
535 Listeners
993 Listeners
139 Listeners
608 Listeners
407 Listeners
422 Listeners
418 Listeners
516 Listeners
722 Listeners
215 Listeners
152 Listeners
130 Listeners
849 Listeners
40 Listeners