Market Update – Finance

It’s interesting to watch the real estate market change. Through the past several years we all know that financing a purchase has been at best difficult. Strangely at times our IRA clients have had an easier time getting a non-recourse loan for their IRA than our clients completing 1031 exchanges with traditional investment loans. In either case the majority of our traditional finance sources were simply not doing business.

Well, the money is starting to move back to the market, at least in the investment world. We have recently had our IRA clients close non-recourse apartment loans through both Chase Bank and Sterling Bank and our contacts say they are ready to do a lot more!

Another great source for IRA real estate finance is our friends at North American Savings Bank. NASB will finance residential properties of up to 12 units and they really know what they are doing. You can check them out at http://www.iralending.com

We believe that as time ticks along, interest rates will increase and the dollar will decrease… We are watching real estate funds grow while prudent managers cherry-pick prime opportunities. Pension funds and REITS are also making prime investments. Don’t wait too long, the time to work a deal is now!