CleanTo2ndLien

[CleanTo2ndLien @CleanTo2ndLien]

@RandallHouseRE Let’s goo! Congrats big guy.

[CleanTo2ndLien @CleanTo2ndLien]

@financeguy725 🫨🫨🫨

[CleanTo2ndLien @CleanTo2ndLien]

@bridgelenderguy https://t.co/4XUMKWJ12J

[CleanTo2ndLien @CleanTo2ndLien]

@bridgelenderguy Do you have any NPL problems I can solve?

[CleanTo2ndLien @CleanTo2ndLien]

@bridgelenderguy Do you have any NPL problems I can solve?

[CleanTo2ndLien @CleanTo2ndLien]

@commbankerguy Not a credit issue if it's "performing"! : )

[CleanTo2ndLien @CleanTo2ndLien]

@financeguy725 😂😂 never looked at that before. So good.

[CleanTo2ndLien @CleanTo2ndLien]

Seeing lenders on lease up deals in some high supply southeast markets maintain concessions at “stabilization”.

1% vs 8% stabilized concessions can equal millions in proceeds.

[CleanTo2ndLien @CleanTo2ndLien]

@TXpaintbrush How much of a discount do you need? What’s the vintage?

[CleanTo2ndLien @CleanTo2ndLien]

The consistency (and patience) required to get deals from initial inquiry to close is no joke, especially when there are moments you know more about the situation than the loan seller.

Pull up your old lists. Track them. It takes YEARS.

[kyle o’hehir @financeguy725]

Deals i closed in the last 2 weeks

14mm multifamily acquisition/loan assumption (took 25 months)

10mm retail acquisition (been working for 21 months)

12mm multifamily NPL note acquisition (@CleanTo2ndLien brokered the deal; 2 years)

There’s no get rich quick in real estate 😅

[CleanTo2ndLien @CleanTo2ndLien]

@aussieflya Mixed bag. This one had some ups and downs. I think it died 4 times from first inquiry to close. Over 2 years start to finish.

Having a good buyer that can get creative really helps :)

But the age old line “are they a real seller” is equally important.

[CleanTo2ndLien @CleanTo2ndLien]

@aussieflya Good Q. Same deal die before it gets done?

Or how many deals until 1 gets done haha

[CleanTo2ndLien @CleanTo2ndLien]

@financeguy725 💪🏼💪🏼 appreciate the shoutout

[CleanTo2ndLien @CleanTo2ndLien]

@PerrySolem I’ve worked on large NPL in these photos. 😈

Had to do a double take. Thank you Samsung Galaxy !

[CleanTo2ndLien @CleanTo2ndLien]

https://t.co/GBPSZAoZZv

[CleanTo2ndLien @CleanTo2ndLien]

One of the better NYC real estate moments I’ve experienced.

Getting coffee in the West Village this AM and randomly ran into the developer of 105-107 Bank St. Cool history you can read in the link.

We start chatting and turns into impromptu tour of the building. (I asked permission to post the photos)

[CleanTo2ndLien @CleanTo2ndLien]

Hearing the history first hand from the guy that’s been doing the work for several years… combining the buildings, excavating, the staircase.

Talk to people. You never know who you will meet!

[CleanTo2ndLien @CleanTo2ndLien]

@EllliotttB Was reading this and was waiting for the EB punchline. There it is down there hanging out.

[CleanTo2ndLien @CleanTo2ndLien]

Friend visiting from Florida to go to Ryder Cup.

He was checking Uber prices from Manhattan (West Village) to Bethpage today.

Over $400 one way for black car.

He said that was more than his round trip flight cost.

Will be fun to see how high these get over the weekend.

[CleanTo2ndLien @CleanTo2ndLien]

@jaymart222 Also… say the FHEPS rent is way above market (seen many times in the Bronx), most lenders will underwrite to what market rents are.

Meaning, your loan proceeds will take a hit.