6C — January 27 - February 9, 2017 — 2017 Forecast — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial C onsultation By Robert Cohen, executive vice president, Prestige Group, Inc. Why you need a consultant when financing multi-family and commercial properties W hether an experi- enced or new inves- tor to real estate or man power to provide the voluminous information that is required by the lenders nor streamline the process. Today’s lenders require a massive amount of informa- often barrage the borrower with questions. This part of the process is again, extreme-
looking to re-finance their properties will be astounded at the difference in the loan process and requirements from their initial loan. We at Prestige Group are adept at all the requirements. Even the seasoned real estate investor benefits from our knowledge and expertise. Having Prestige Group, an experienced real estate financing consultant on your side can expedite the process. We alleviate the burden of the loan process by having a clear understanding of the specific needs and objectives of our clients, as well as the property being financed. Our deep relationships with many different lenders enable us to bring the loan package to lenders we know will consider your specific circumstance. At Prestige Group, we pride ourselves in getting multiple offers from different lenders, so we can negotiate from a position of strength! Because we understand the bank requirements, we are able to professionally prepare the loan application and supporting documents. The banks appreciate this and feel comfortable know- ing they are dealing with professionals whichmake the banks job easier. Many of the terms of your loan can be negotiated. There are many more things to con- sider than just the interest rate and term of the loan. These issues can have a ma- jor effect on the overall cost of your loan. Prestige Group has the experience and exper- tise to negotiate additional terms in your favor such as debt coverage requirements, prepayment penalties, amor- tization period, recourse or non-course, points to the lender, bank and attorney fees, to name just a few. Prestige Group Consul- tants will be with you from initial application through physical property inspec- tions, term sheet negotia- tions, loan commitment, and property appraisal to closing of the loan. Prestige Group Consul- tants can help you attain your overall goals and objec- tives without slipping and falling along the way! Robert Cohen is execu- tive vice president of The Prestige Group located in Devon, PA. n
i nv e s t i ng , it is in your best interest to have an experienced f i n a n c i n g consul tant o n y o u r team to help navigate the complex commercial lending experience. Most investors when pur- chasing or refinancing don’t have the time, inclination Robert Cohen
“Borrowing money for commercial real estate is a very onerous process. As real estate financial consultants, we know what is needed to streamline the process.”
tion in order to approve a loan. It takes significant time to put together an application and professional package of the property for their review. After the initial review of the application, the banks
the ability to compare several lenders for the same deal. Borrowing money for com- mercial real estate is a very onerous process. As Real Estate financial consultants, we know what is needed to
ly time consuming. However, answering the questions ac- curately and timely is critical to obtaining a loan. The current loan environ- ment is vastly different than pre-recession years. Owners
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