Kingston Commercial » Commercial Real Estate Financing http://kingstoncommercial.ca Kingston Commercial Micro Directory Sat, 12 Jun 2010 07:29:50 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 Commercial Real Estate Investment Success Begins With a Positive Mindset http://kingstoncommercial.ca/commercial-real-estate-investment-success-begins-with-a-positive-mindset http://kingstoncommercial.ca/commercial-real-estate-investment-success-begins-with-a-positive-mindset#comments Sun, 24 Jan 2010 09:16:18 +0000 admin http://kingstoncommercial.ca/commercial-real-estate-investment-success-begins-with-a-positive-mindset Ever thought about real estate investing as a means to supplement an income, or even as an avenue to entrepreneurship? The current foreclosure epidemic has caused people who have never considered real estate investing to give it a thought. With foreclosed properties selling at all time lows many wonder about the potential to “cash in.”

 

The recent foreclosure boom has caused many homeowners to need housing. Commercial real estate can be very lucrative at a time like this. Potential homebuyers are hesitant about purchasing because of economic uncertainties, making the need for rental properties and apartments in high demand.

 

Many people wonder if they have what it takes to be successful in real estate. The saying real estate investing “isn’t for everyone,” isn’t necessarily true. Real estate investing begins with a proper mindset. Educated investors make the best investors. Understanding the strategies behind real estate investing is the first start to developing the right mindset.

 

Real estate investors should seek courses and information which educate, motivate and instigate dynamic change in their lives. It is important to free one’s self from the negative talk and dire predictions of the world and embrace new ideas, money-making methods, investment strategies and to network with like-minded/ upwardly mobile individuals and experts in the real estate investment and financial education field, when deciding to pursue real estate investments.

 

The power to be successful begins with having a successful mindset and learning to welcome success. Building financial wealth through commercial real estate investments is very possible with the proper training and a positive mindset. It is not recommended that anyone jump into real estate investing without the correct instruction. Commercial real estate investing with the proper training can not only lead to financial security but also to peace of mind.

 

 

About The Power to Be Free

The Power to Be Free is a group of successful real estate investors committed to building more financial success through the power of collaboration and networking. In addition to that they are equally committed to empowering and teaching others to build financial wealth and to successfully invest in real estate as well. All The Power to Be Free members have either achieved financial success and are poised to increase their financial rewards or they are new members who are serious about learning how to do what it takes to increase their personal and professional success while also learning to empower and motivate those who will follow them. The Power to Be Free is about exactly what the name suggests; empowering people and communities to gain freedom through financial

success and real estate investing. The Power to Be Free is building a veritable army of leading experts in the field of commercial real estate investment and wealth building. More information is available online (http://www.ThePowertoBeFree.com)

]]> http://kingstoncommercial.ca/commercial-real-estate-investment-success-begins-with-a-positive-mindset/feed 0 Commercial Real Estate Financing Lenders and Considerations http://kingstoncommercial.ca/commercial-real-estate-financing-lenders-and-considerations http://kingstoncommercial.ca/commercial-real-estate-financing-lenders-and-considerations#comments Sat, 09 Jan 2010 09:43:31 +0000 admin http://kingstoncommercial.ca/commercial-real-estate-financing-lenders-and-considerations If you are looking for a commercial property loan, and it is your first time getting commercial real estate financing, you are in for some big surprises. This is a whole different deal from borrowing to buy a home.
One of the biggest differences is that you have to do more to convince the lender that this is a good deal for them. Commercial real estate financiers are going to be looking hard at what you can offer them as a borrower. They may ask lots of specific questions about the nature of your business, your plans for the money, and other things that may not seem to be related to the matter at hand. Since dealing with lenders is more complicated with commercial real estate, let’s have a look at who might be lending you the money.
Lenders for commercial real estate financing include banks, savings and loans institutions, insurance companies, mortgage brokerage firms and private lenders.
Which kind of lender is best? Of course there is no single fit for every situation, and any of the above could offer you a great deal with good interest rates.
What you should really be worried about is the loan officer, more than the actual lending institution. It is the loan officer’s work that will ultimately make the lending process either go smoothly or not.
When choosing a loan officer, look for someone with good experience. The best place to find an experienced professional is through your realtor. They will usually have one they have used in the past, whose work they have always been happy with.
There are also certain lenders who specialize in specific business types. For example, some specialize in financing warehouses; some specialize in office real estate. This can be a great advantage.
With commercial real estate financing, lenders want to know everything they can about the place you are buying or refinancing. So that you won’t be surprised at some of the questions, some typical ones follow.
The income the property has been making. They will want to see income statements and expense statements. This might be the #1 consideration, more even than your income.
They’ll want to know about the owners of the property. You’ll have to provide financial statements for all the people who own the business.
You may have to provide information about the managers or whoever will be running the place. Because they are concerned with a return on their investment, they want to know that the business will be run by competent, experienced managers.
They will definitely check the borrower’s credit history. This will be a less important factor than the financial history of the property, but it can still be a deciding factor in whether or not you get the loan.
The lender will want to know how much the property is worth, according to an official appraisal.
You should tell them about any plans you have for building or changing the property in any way. For example, if you plan to do any construction, they will want to know that.
When dealing with lenders, always remember that risk is the #1 consideration for them. While you’re building or improving your business, and you’re thinking about all the great things coming your way, all they are thinking about is the possibility of failure. To them, it’s just a matter of whether they will get the money back or not.
You can find commercial real estate financing, just look for a good loan officer, and be prepared to provide whatever information they request from you.

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