Comments for Private Money Utah http://privatemoneyutah.com Your Trusted Resource for Private Money Loans in Utah Tue, 21 Feb 2012 15:33:31 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on Top 4 Scams in Hard Money by Corey Curwick http://privatemoneyutah.com/top-4-scams-in-hard-money/#comment-651 Corey Curwick Tue, 21 Feb 2012 15:33:31 +0000 http://privatemoneyutah.com/?p=1036#comment-651 Ashok, In the case where you think you may have a 'Bait and Ditch' lender, if you haven't given an upfront fee, keep all of your options open and keep searching for another source of financing. This way you have explored all options in case the lender decides to 'Ditch' you at the last minute. This way you may have a back up plan lined up ready to fund. Ashok,
In the case where you think you may have a ‘Bait and Ditch’ lender, if you haven’t given an upfront fee, keep all of your options open and keep searching for another source of financing. This way you have explored all options in case the lender decides to ‘Ditch’ you at the last minute. This way you may have a back up plan lined up ready to fund.

]]> Comment on Top 4 Scams in Hard Money by Ashok Aditya http://privatemoneyutah.com/top-4-scams-in-hard-money/#comment-650 Ashok Aditya Tue, 21 Feb 2012 15:27:11 +0000 http://privatemoneyutah.com/?p=1036#comment-650 Is there any possibility to find out one as a Bait and Ditch” Lender? Or only the way to experience and suffer... Please answer Thanks Is there any possibility to find out one as a Bait and Ditch” Lender?
Or only the way to experience and suffer…
Please answer Thanks

]]> Comment on How to Avoid Lending Scams by aggelos http://privatemoneyutah.com/how-to-avoid-lending-scams/#comment-638 aggelos Mon, 20 Feb 2012 09:02:38 +0000 http://privatemoneyutah.com/?p=1102#comment-638 http://lemnosislamd.blogspot.com says : I AGREE MY FRIEND WE HAVE TO BE CAREFUL WITH OUR HARD EARNED MONEY ALOT OF SCAMS OUT THERE AND UNFORTUNATELY THE STATE IS NOT WILLING TO PREVENT PEOPLE FROM ALL THAT RUBISH THANX FOR YOUR POST AND KEEP GOING http://lemnosinfo.blogspot.com http://lemnosislamd.blogspot.com says : I AGREE MY FRIEND WE HAVE TO BE CAREFUL WITH OUR HARD EARNED MONEY ALOT OF SCAMS OUT THERE AND UNFORTUNATELY THE STATE IS NOT WILLING TO PREVENT PEOPLE FROM ALL THAT RUBISH THANX FOR YOUR POST AND KEEP GOING
http://lemnosinfo.blogspot.com

]]> Comment on Top 4 Scams in Hard Money by Lisa Watts http://privatemoneyutah.com/top-4-scams-in-hard-money/#comment-586 Lisa Watts Thu, 16 Feb 2012 02:09:08 +0000 http://privatemoneyutah.com/?p=1036#comment-586 thank you Corey, more people need to have ready access to such information. thank you Corey, more people need to have ready access to such information.

]]> Comment on Hard Money Lending Replaces Bank Lending in Today’s Market by Tony http://privatemoneyutah.com/hard-money-lending-replaces-bank-lending-in-todays-market/#comment-100 Tony Fri, 06 Jan 2012 16:59:33 +0000 http://privatemoneyutah.com/?p=629#comment-100 Great post. This is true, banks aren't giving the investment property loans anymore. If you don't have your own cash to buy properties, hard money lenders are the way to go. Corey, your company does have some great sources for these types of loans. Great post. This is true, banks aren’t giving the investment property loans anymore. If you don’t have your own cash to buy properties, hard money lenders are the way to go. Corey, your company does have some great sources for these types of loans.

]]> Comment on Stated Income Loans – A Thing of the Past?? by Physical Therapist http://privatemoneyutah.com/stated-income-loans-%e2%80%93-a-thing-of-the-past/#comment-9 Physical Therapist Tue, 21 Sep 2010 23:50:37 +0000 http://privatemoneyutah.com/?p=65#comment-9 You guys just completely described our situation. My wife is a full-time teacher, and makes very little, and I own a physical therapy company. My credit score is 749 avg, and we have equity out the whazoo in not 1, but 4 homes (3 of which are rental homes, with positive cash flow). We are trying to purchase a house in a short sale right now and the house (according to the tax appraisal and independent appraisal) would instantly have nearly $200,000 equity in it. Guess what? We cannot get a loan because we cannot show the income. Obviously we are paying for what we have, but they cannot see how...I wish there was a stated income option! Anyone have any suggestions...and in a hurry??? You guys just completely described our situation. My wife is a full-time teacher, and makes very little, and I own a physical therapy company. My credit score is 749 avg, and we have equity out the whazoo in not 1, but 4 homes (3 of which are rental homes, with positive cash flow). We are trying to purchase a house in a short sale right now and the house (according to the tax appraisal and independent appraisal) would instantly have nearly $200,000 equity in it. Guess what? We cannot get a loan because we cannot show the income. Obviously we are paying for what we have, but they cannot see how…I wish there was a stated income option! Anyone have any suggestions…and in a hurry???

]]> Comment on Commercial Office Space is Evolving: Who Will Answer the Billion Dollar Commercial Real Estate Question? by Corey Curwick http://privatemoneyutah.com/commercial-office-space-is-evolving-who-will-answer-the-billion-dollar-commercial-real-estate-question/#comment-69 Corey Curwick Thu, 15 Jul 2010 16:12:32 +0000 http://privatemoneyutah.com/?p=330#comment-69 Chris, I've had a lot of push back on this topic from my friends and colleagues who won't comment but have emailed me their thoughts. A lot of them are saying that a brick and mortar office lends credibility to the business. I think for some businesses this is true, but if we had to generalize, the new generation of digital savvy consumers is less and less concerned about the brick and mortar presence of a business. I am curious about what office space will look like in 10 years. Will it be a Noah's kind of business model with a 'mash up' of traditional office space along with virtual meeting rooms and other related spaces for virtual offices? This is indeed a billion dollar real estate question. Apparently Noah's is booked solid! Chris,
I’ve had a lot of push back on this topic from my friends and colleagues who won’t comment but have emailed me their thoughts. A lot of them are saying that a brick and mortar office lends credibility to the business. I think for some businesses this is true, but if we had to generalize, the new generation of digital savvy consumers is less and less concerned about the brick and mortar presence of a business.

I am curious about what office space will look like in 10 years. Will it be a Noah’s kind of business model with a ‘mash up’ of traditional office space along with virtual meeting rooms and other related spaces for virtual offices?

This is indeed a billion dollar real estate question. Apparently Noah’s is booked solid!

]]> Comment on Commercial Office Space is Evolving: Who Will Answer the Billion Dollar Commercial Real Estate Question? by Chris Browne http://privatemoneyutah.com/commercial-office-space-is-evolving-who-will-answer-the-billion-dollar-commercial-real-estate-question/#comment-68 Chris Browne Thu, 15 Jul 2010 15:56:47 +0000 http://privatemoneyutah.com/?p=330#comment-68 Hi Corey, great article. I agree with you that commercial office space has changed forever with new technologies that are available, and the recession was the tipping point that triggered it. As someone who runs three businesses from a home office, I save a ton of time and money that way. Our property management company (www.mapleleafmanagement.com) has no physical office, and this lack of overhead cost allows us to offer better services at lower prices than our competition. Our manager has her laptop, car and cell phone, and that is all she needs. We rarely need to meet in person with clients and prospective clients, but if we do we go grab a coffee, or use the conference room at the bank branch where we have all of our accounts. I think for a small business, this is definitely the way to go. From an investment perspective, this is the main reason we do not invest in commercial properties, especially office space, in our private real estate funds. We focus on multi-family residential properties, because no amount of technology will change the fact that people always need a physical place to live. Anyone interested in learning about our funds can email me at chris@mliproperties or go to www.mapleleafcapitalmanagement.com. Last year we were about to purchase an old mansion in Sugarhouse, and convert it to office suites. Luckily we took a pass on this property, because businesses are moving back into their homes and garages right now, not the other way around. While we would have had a good product for professionals who wanted to have an office with a common receptionist, conference room, and communication equipment, now is not the time. In the future there may be a resurgence in office space demand, but for the foreseeable future we are investing exclusively in residential multi-family properties. Chris Browne, President Maple Leaf Capital Management Hi Corey, great article. I agree with you that commercial office space has changed forever with new technologies that are available, and the recession was the tipping point that triggered it.

As someone who runs three businesses from a home office, I save a ton of time and money that way. Our property management company (www.mapleleafmanagement.com) has no physical office, and this lack of overhead cost allows us to offer better services at lower prices than our competition. Our manager has her laptop, car and cell phone, and that is all she needs. We rarely need to meet in person with clients and prospective clients, but if we do we go grab a coffee, or use the conference room at the bank branch where we have all of our accounts. I think for a small business, this is definitely the way to go.

From an investment perspective, this is the main reason we do not invest in commercial properties, especially office space, in our private real estate funds. We focus on multi-family residential properties, because no amount of technology will change the fact that people always need a physical place to live. Anyone interested in learning about our funds can email me at chris@mliproperties or go to http://www.mapleleafcapitalmanagement.com.

Last year we were about to purchase an old mansion in Sugarhouse, and convert it to office suites. Luckily we took a pass on this property, because businesses are moving back into their homes and garages right now, not the other way around. While we would have had a good product for professionals who wanted to have an office with a common receptionist, conference room, and communication equipment, now is not the time. In the future there may be a resurgence in office space demand, but for the foreseeable future we are investing exclusively in residential multi-family properties.

Chris Browne, President
Maple Leaf Capital Management

]]> Comment on Interview With A Banker by a j sessa http://privatemoneyutah.com/interview-with-a-banker/#comment-67 a j sessa Wed, 07 Apr 2010 22:30:42 +0000 http://privatemoneyutah.com/?p=309#comment-67 "the more things change the more they are the same" in 1980 i started a factory conversion into a shopping center we had a 2 mml construction loan at 2 pt's above prime 1981 prime hit 21% we thought. we hit nivana when upon competion we were able to get a 12% permanent loan so what else is new “the more things change the more they are the same” in 1980 i started a factory conversion into a shopping center we had a 2 mml construction loan at 2 pt’s above prime 1981 prime hit 21% we thought. we hit nivana when upon competion we were able to get a 12% permanent loan so what else is new

]]> Comment on Interview With A Banker by JoyceStein http://privatemoneyutah.com/interview-with-a-banker/#comment-66 JoyceStein Mon, 05 Apr 2010 15:50:00 +0000 http://privatemoneyutah.com/?p=309#comment-66 Pretty much the same in Italy, I think. The banks have held on to the money provided by the European Central Bank which was meant for businesses and entrepreneurs trying to make it through the crisis period. Instead banks are using that money to cover their risk with the mortgage crisis and the money is not helping our economy. Pretty much the same in Italy, I think. The banks have held on to the money provided by the European Central Bank which was meant for businesses and entrepreneurs trying to make it through the crisis period. Instead banks are using that money to cover their risk with the mortgage crisis and the money is not helping our economy.

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