Maverick Real Estate

Archive for the ‘Commercial Construction’ Category

Privately funded, often called “hard money” commercial mortgage loans are equity based loans written by privately owned lending companies or wealthy individuals. The loan approval process is fairly straight-forward when compared to conventional, institutionally funded loans, but private lenders have lending standards and loan parameters just like banks do. To secure an approval and get your deal funded you’ll need to understand what hard money lenders need to see in a loan request.

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Equity

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Private commercial mortgage loans are essentially equity loans. To be considered for funding by a hard money firm, a building or project must have significant equity. Land deals are usually done at 60% LTV or less. Buildings can receive offers of up to 70% LTV depending on the quality of the asset and its income production.

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Large down-payments and/or hefty 2nd mortgages are frequently required by private lenders who will, generally insist on being in 1st position with a low LTV.

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Cash

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In today’s challenging credit environment, it is not reasonable to ask a lender to participate in a deal that is 100% financed. Regardless of the amount of “soft equity” in a property, virtually everyone, even hard money people, are asking that borrowers have a significant “hard equity” (cash) stake. Most private lenders are looking for at least a 10% cash investment by the principle borrowers. They will simply insist that their clients have something to lose if the deal goes south.

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Exit

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Hard money loans tend to be short term loans. 6-36 months is standard. Before they approve you for a mortgage they’ll want to know exactly how you intend to pay them back when the loan matures. If your plan is to sell the property, you’ll need to prove it’s marketable and have a sound strategy for finding a buyer. If you intend to refinance the private loan with a more conventional mortgage, you will need to prove that the project will qualify when the time comes.

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Private Lenders

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The private commercial mortgage lending process is a simple process, but that does not mean that it’s easy to get a deal done. A project must have a decent amount of equity, a cash investment will be asked of all borrowers and it is imperative that the exit plan is well thought out.

A resume mirrors a persons expertise, qualifications and market value. It is very important to design an effective resume to catch the attention of prospective employers. Construction resumes should provide information about a candidates strengths and skills in the field of construction. Equally important is the use of keywords to highlight the achievements.

Keywords are catchy titles, generally in bold font styles, that highlight a particular section of a resume. Some common keywords that can be used in construction resumes are: – Construction Job Title: Position applied for. – Construction Skills: Construction-specific proficiencies. – Technical Skills: Ability to handle construction job requirements with ease, getting the job done technically correct. – Soft Skills: Communication skills, nature of the candidate, his strengths and other interpersonal qualities. – Industry Credentials: Details of educational qualification, certifications, licenses, training and workshops attended. – Achievements: Awards and achievements- both educational and professional. – Employer Information: Name and contact information of current employer and ex-employers.

The keywords can be placed anywhere in the resume. The primary purpose is to make the resume easily readable, outlined with comprehensive content.

Some construction-specific keywords are given below:

Construction Project, Work Breakdown Structure (WBS), Critical Path Methods (CPMs), Project Management, Project Funding, Workflow and Project Scheduling, Budgeting and Pro-forma, Heavy Lifting, Residential/ Educational/ Religious/ Commercial Construction, Construction Laborer/ Foreman/ Manager/ Supervisor, Safety Compliance, Hand Equipments, Levers, Backhoes, Cranes, Trucks and Machines.

Managers can use job relevant keywords and subordinates, laborers and other employees can use their job-specific keywords.

Construction resumes should display adequate information about a persons quantifiable endeavors towards getting the previous company benefit, saving cost and increasing the companys efficiency. The point is to display your personal contribution in the field you belong to.

A typical construction resume would have the following template:

Personal Information: Full name, contact address, telephone number(s) and email address.

Objective: A short sentence, defining your objective in construction field.

Experience: Start with the most recent job giving position of your job, location, term of employment and responsibilities handled by you on the job.

Construction and Technical Skills: List your expertise, use action words such as Concrete Design, Hydro-analysis, power tools, equipment maintenance, crane operator, work breakdown structures (WBS) and other construction-specific terms.

Qualification: Mention the basic education, diplomas and degrees. Start with the most recent educational qualification, giving full detail about name of institute, city, state, the year of passing, GPA (optional).

Certifications: Certifications, training and relevant credentials.

Achievements: Achievements and accomplishments, starting with the most recent one.

Activities: Professional construction activities.

Employer Information: Name and contact number of the employer and previous employers.

The use of abbreviations should be avoided. It is best not to use short forms in the resume. Keywords emphasize on the description presented in a resume. They add importance to the sections present there and provide a brief definition to the description that follows. A resume should be put together for optimum assessment of the candidate on paper. It is a documented presentation of a persons skill and experience.

Commercial space for rent Bangalore

Benefits of Commercial space for rent Bangalore Real Estate!

1.) The great thing about Commercial space for rent Bangalore real estate is you can make money from this type of investment in many different ways. You have the ability to purchase the property, gain equity and then turn around and profit on the sale. You can also rent or lease the property to obtain and sustain a monthly rental income. It is even viable to purchase an office building and run your own business from the property. If the building contains multiple floors or offices, these portions can be leased or rented out.

2.) Investing in Commercial real estate is a great way to add additional properties to your investment portfolio. A lot of times investors forget that there are opportunities outside of the residential real estate market. Having commercial investments adds some variety and options for your portfolio. Commercial real estate properties can be range from apartment properties to office buildings.

3.) There is Commercial space for rent Bangalore real estate available in almost every area, and there is more than you might think. It is important to keep your options open and consider every investment that comes your way. Commercial real estate may not be as easy to find, but it can be a great investment.

There are many benefits to getting into commercial real estate, a lot more than I have mentioned here. It is important to consider this type of investment even if it is not part of your current plan. Like with any type of investing

Buying Commercial space for rent Bangalore real estate can be a big step; there are some great benefits to getting into Commercial space for rent Bangalore real estate. By investing in properties other than single-family homes and residential properties, you give yourself the option to own such properties as apartment buildings and office space. This will give you multiple options and increased diversity on your investments and hopefully on your returns. This may seem like a daunting task getting into commercial investing and it is, however the following benefits may help make that transition much easier.

 

It is very important to gain as much knowledge as you can before making those tough decisions about what to invest in. If possible attend seminars, gain knowledge through the Internet, books, and contact a real estate agent who primarily deals with commercial real estate.