Even before the COVID crisis, Florida had a strong natural growth which as driven up real estate prices. Now during COVID, that growth is intensifying as people are fleeing intensely populated metropolitan areas from other states and flocking to Florida. Financing is therefore, playing a more and more important role, and with current rates so low, we can expect a lot of new construction to fill the demand.
Today we talk with Andrew LaSalla II, Principal with LSG Lending Advisors, about the process for someone to move forward on a multifamily construction deal, specifically the HUD 221(d)(4) new construction & substantial rehabilitation loan for multifamily properties.
Key Discussion Points
[01:05] Opening remarks by Eric Odum and Steven Silverman
[05:00] About our guest: Andrew LaSalla II
[05:54] Give us an overview of what's going on in the agency market right now
[07:21] What is the criteria to do one of these loans?
[08:38] What does the structure of the HUD 221 (d)(4) loan look like?
[09:36] What is the timeframe for these loan deals?
[10:04] How should people best position themselves to get one of these HUD construction loans?
[12:40] For a standard $15M loan on a multifamily investment, what does that structure look like (Fannie or Freddie)
[15:17] At what stage should someone get involved with you when they're looking to finance?
[16:28] How can folks contact you if they want to refinance or get inolved with new construction?
[17:39] Closing comments by Eric & Steven
Andrew LaSalla II is a Principal at LSG Lending Advisors. Andrew guides clients in navigating the loan process in a simple, transparent manner, so that the loans close at the lowest rates and the best terms.