We will need the SFR 2-4 units broken down into individual units on our spreadsheet so we can determine the monthly rents..
So, example Rental income and number of bed/bath/square feet for – 10931 Bay Ave unit 1, would be a separate line, 10931 Bay Ave unit 2 a separate line, unit 3 unit 4 for and so on…
Belshaw St. is actually an 8 unit apartment which is ok…just note and list on separate lines as you would with the 2-4 unit….
The other items such as taxes, insurance, value, purchase date, etc can remain on the first line item of the property…
Please explain the Prepayment penalties
The 5 year is 4.5 years of Yield Maintenance (guaranteed interest) – 10 year is 2 year lock out then declining 8%-7%-6%-5-4-3-2-1…The loan is assumable for 1%.
Loan origination and closing costs. –1-2% (depends on the loan size, leverage, cash flow) – paid from loan proceeds – closing cost will be detailed on our term sheet– appraisals are 350-375/door for SRF’s (2-4 units are $550-$575) – multi’s are shopped for best rates – An additional $165/door for title review, deed verification, tax review, lease review, flood cert, seismic cert, and insurance review. – $375 – background check - $1,000 - $2,000 underwriting fee..