Fundamentals About Commercial Loans of Multifamily Real Estate & Market Trends

Guest Speaker: Aaron Abelson, Executive Director – PGIM Real Estate

In this episode, Lance Edwards’ guest is Aaron Abelson who  delves into various aspects of loan products and financing options, specifically focusing on non-recourse loans. They cover borrower qualifications, perception versus misperception, the loan application process, and the underwriting process with lenders. Additionally, Aaron explores the importance of property management companies and provides valuable tips for investors on preparing for the loan application process and managing their transactions. Lance and Aaron conclude with a discussion on the future of rates and the economy.

Highlights from the Interview:

1:33 Types of loan products and range.

4:21 Bridge financing to get you into the longer-term stable property.

6:55 Perception and misperception, borrower qualifications about non-recourse loans.

7:21 Non-recourse loans

11:04 Non-recourse loans for the novice investor with limited experience and no liquidity.

11:46 Example of a non-recourse loan.

12:37 Why do you need a property management company?

14:53 The non-recourse loan application process, and the mistakes inventors tend to make.

15:58 Investors are underestimating these expenses.

18:07 Different types of underwriting and assumptions by lenders.

21:50 How to contact Aaron Abelson.

23:13 How much time should investors budget for this process?

28:07 Bridge loans to acquire and stabilize it with the intent to go long-term loan.

29:14 The future about rates and what will happen with the economy.

Aaron’s contact info:
Aaron Abelson Executive Director – PGIM Real Estate

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