No Chase Construction of Commercial Lending
We usually do not pay for the typical commercial mortgage broker business to work in commercial construction loans or residential subdivision construction loans. Here’s why:
With the possible exception of the apartments, the U.S. is awash with additional buildings. Homebuilders are sitting on hundreds of thousands of houses unsold. The vacancy rate nationally for office buildings is close to 20%. Retailers are getting clobbered in the current recession, so that the vacancy rate for retail space is skyrocketing. Occupancy rates of hotels are plummeting. The simple fact is that the U.S. does not really need a lot of new buildings.
Even when the economy was strong, the typical mortgage broker business rarely went to work at any decent construction business loans.
The reason is because banks make a ton of money if you do a good construction loan. It has always been easy for skilled developers simply go to a local bank and obtain a construction loan.
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About the Author:
Wade and IMM Commercial mortgage financing Group provide business opportunity commercial mortgage loan – business loan advice and publish IMM Commercial Real Estate Investment Property Financing Reports by Bargain Trader.
March 28 2011 | Fast Home Equity Loans – How Home Equity Loans Online With A Licensed Mortgage Broker Online | Comments Off