Loans for Commercial Real Estate with Terry Painter, Ep. 399

Terry Painter, is the author of “The Encyclopedia of Commercial Real Estate Advice”  – A Wiley Publication, and a Number 1, New Release on Amazon in 2020. He is also a contributing writer for Forbes.com. Terry is the founder of Apartment Loan Store and Business Loan Store – commercial mortgage banking and advisory firms that have closed over four billion dollars in commercial loans since 1997.

We talked to Terry about the importance of understanding the submarkets, loans products and his book “The Encyclopedia of Commercial Real Estate Advice”.

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[00:01 – 03:33] Opening Segment 

• Terry talks about his background.
• He talks about the changes in the market throughout the years.
• Why have the cap rates compressed over the years?

[03:33 – 11:12] Long Shots

• The importance of understanding the submarkets.
• Why you should focus on the longer opportunities.
• Terry talks about the equity multiple
• How can you work out a B class property in an A class neighborhood?
• John and Terry talk about loans and prepayment penalties.

[11:12 – 28:13] All About Loans 

• Terry talks about what loan product is right for your business plan.
• How credit unions can cut you a sweet loan deal.
• He talks about why bridge lenders are a good option.
• Some of the elements other than interest rates when looking at loan products.
• The impact of inflation in the real estate industry. 
• He talks about some of the lesser-discussed elements of a loan.
• Terry talks about his book.

 [28:13 – 33:38] Round of Insights

Apparent Failure:

A small apartment complex he bought with his mother.

Digital Resource:

TEDx Lessons

Most Recommended Book:

Four Thousand Weeks

Daily Habit:

Focusing on the highest paying off activities first.

#1 Insight for Investing

Educate yourself and network.

Best Place to Grab a Bite in the Dominican Republic: 

The North

Contact Terry:

You can reach out to Terry by email  or on his website to learn more. Click here to get his book.

Tweetable Quotes:

“If you want to vouch for it with your mouth, you need to really be able to see it with your eyes.”   – Terry Painter

“The price is just not as important as your business plan and your knowledge of the submarket” – Terry Painter

“Do not fall in love at the first sight. Really get to know that property.” – Terry Painter

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