Chad Lafferty retweetledi
Chad Lafferty
406 posts
Chad Lafferty
@LaffertyC
Commercial Mortgage Banker located in AZ. I enjoy learning new things and discovering the tiny joys of life.
Katılım Mayıs 2011
1.4K Takip Edilen231 Takipçiler
Chad Lafferty retweetledi
Chad Lafferty retweetledi
This is what happens when you actually let developers build housing.
In Austin, rent has dropped 15% from its peak and buildings are offering multiple months FREE! 🤯
Nick Gerli@nickgerli1
The Austin, TX rental market is collapsing before our eyes. With the median apartment rent dropping 15% over the last 2+ years. The vacancies have skyrocketed. Rental concessions are everywhere. Rents are now only 9.8% higher than pre-pandemic. Meaning that many Austin landlords are losing money, as property taxes, insurance, and interest costs are way higher. (This is a harsh lesson on the boom/bust cycle in real estate for many developers and investors who bought into Austin during the boom. Read more below to see how this happened.)
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Chad Lafferty retweetledi
The mental health impacts of being able to walk to a little coffee shop in your neighborhood cannot be overstated, imho
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@bridgelenderguy My favorite is when we are able to get a 30 year amort but the lender still underwrites it to a 25 yr, just to “stress test it”. I asked the lender under what kind of magical scenario would the amort magically change from the 30 to 25 along with the payment. No response yet
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Banker: we underwrite any leases that roll during term as vacant, so we’re underwriting this deal as 35% vacant
Also Banker: we can’t give any IO because that property is stabilized
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Was at a city council meeting last week for a multifamily project a developer client was seeking final zoning approval for and ran into a new type of NIMBY… “amateur traffic engineer”. As soon as she said it I saw a couple council members trying not to laugh. They are evolving.
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Chad Lafferty retweetledi
Chad Lafferty retweetledi
Since people have been asking for rowhomes with a garage, here’s one:
1600sf, 3BR/2.5BA
18’x30’
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@RyanGTuttle Can be done for owner occupied real estate deals in certain industries but usually have certain criteria. Mostly done in combination with SBA financing. Doctors, veterinarians, dentists, etc.
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Do lenders ever fund 100% LTV?
I have brokers asking for this and I always am in disbelief that this is even being asked.
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Chad Lafferty retweetledi
Best prank on your non-CRE & CRE friends:
Giving people from Northwestern Mutual your buddies contact info telling them they are interested in life insurance
2nd best? Telling a debt broker your buddy has a project about to break ground and needs financing & to call him
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@mu2myoc I’m actually quite impressed by the inefficiency of it all
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Every now and then, I think of this analyst and wonder, "what kind of company could breed such a monster?"
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1 slam-dunk use of ChatGPT for CRE?
Lease summarization.
But many struggle getting it to work.
I made a GPT that makes it easy..
Just upload the lease and it does the rest. You dont even need to type a prompt.
Comment “LEASE GPT” below and I’ll DM it to you👇
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100 cold calls
6 answers
4 hang ups
2 wrong contacts
0 prospects
Guys will see this and think “hell yeah”
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Stats for the back half of my day:
- 18 cold calls
- 0 answers
-18 cold emails
- 0 responses
En fuego - cant be stopped 🔥
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@ChuckBuc2 As someone actively in the market on the debt side, that is a fantastic quote
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Loan terms (via commitment letter) for an 11k SF “small bay” industrial deal I’m closing on in a secondary market fast growing MSA in 1 month:
LTC: 80% (purchase + renovations)
Rate: 5.34%
Term: 10 years (fixed for first 5)
Amort: 25 years
Origination Fee: 0.5%
Recourse: Yes
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Chad Lafferty retweetledi
Want cheaper for-sale homes?
1. Loosen zoning (including reducing or removing minimum lot sizes)
2. Tax profits from for-sale home building as capital gains, not income
3. Reform the construction defect liability system to make it reasonable
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Chad Lafferty retweetledi
40% of the entire island of MANHATTAN would be illegal to build today!
We have neutered America's biggest assets, our cities, with absurd zoning and land-use regulations. It's time to set them free again.
Max Dubler 🏳️🌈@maxdubler
Basically all of America’s best-loved neighborhoods were built before zoning and the overwhelming majority of them would be illegal to build today.
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I’m back for good tomorrow.
Going to embrace the suck and document it all :)
💙
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Chad Lafferty retweetledi
