Perry Reid Properties goal to provide full service property management includes knowing when to take advantage of continually changing financing options available within the market. This requires working with many different banks and loan programs to find the financing that best meets the financial goals of the property and owners.
Perry Reid Properties has the knowledge and experience to evaluate and analyze multiple financing scenarios. We’ve worked with many local lenders, insurance companies, and agencies such as HUD, Fannie Mae, and Freddie Mac to produce lower interest rates, increased cash flow, accelerated amortizations, and better investor returns.
There are many components involved in placement of financing on a multifamily property. First, determining potential lenders and financing models that fit the property best. Secondly, providing competing lenders with substantial amounts of financial data relating to the property’s historical performance, and helping you provide the information a lender will require from an owner or Key Principle. Finally, analyzing the different financing options available, and working through closing to ensure a smooth transition.
As described above, to finance or refinance a property is a long and difficult process. The time and effort expended by Perry Reid Properties to assist in refinancing your property falls outside the scope of our typical property management agreement. To cover our costs and provide you with the expertise and service needed, we have provided our standard fee schedule below.
Under 1 Million = $5,000
1 Million to 3 Million = .60 BPS Fee
3 Million to 10 Million = .50 BPS Fee
Over 10 Million = .40 BPS Fee
Under 3 Million = .70 BPS Fee
3 Million to 10 Million = .60 BPS Fee
Over 10 Million = .50 BPS Fee
*The PRP financing fee is deemed to be earned at loan closing. The fee may be included within the new loan amount and paid in full at closing.