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Great to be back in Playa del Carmen!
Well, we are back after a much needed break! Seattle was amazingly beautiful and fun, but it is always nice to come back home. We will be posting more regularly as we are now back in the office so if you have something to say, announce, or just want to share a fun exprienc, please send it our way and we will post it if we can......Now for a Playa del Carmen and Riviera Maya real estate update:
International Commercial Real
Estate Loans; Fact or Fiction?
American lenders are
now making commercial real estate loans internationally.Two years ago ther was an
article stating that international commercial real estate loans do not actually
close.....
However, recently we
have found out that hard money lenders in the United States have been looking to
expand lending borders for prospective borrowers.
Consequently, a number of them have now
closed deals outside of the United
States.
There are two types of
commercial lenders; those that offer soft money at low interest rates,
and those who offer hard money at higher interest rates.
Regardless of which one you choose, the
interest rates offered for international commercial deals are not going to be
anywhere near what they are when the deal is done within the USA.
I have learned in my lifetime that the more
expensive the loan quote, the more likely the lender or source of funding is
for real.
For instance, hard
money commercial real estate loans are very expensive; thus, the company
quoting 4% interest for 20 years usually turns out to be advance fee scammers.
The company quoting 12% interest and eight to ten points actually wants to
close loans.
You need to be careful and watch
out for those fee scammers who will only have you dancing around and taking
your money while never being able to close the loan.
So let me just tell
you that, - international commercial real estate loans actually do close!... they're
just a little bit more expensive right now. After these daring hard money
lenders make a few hundred million dollars in loan fees making international
commercial real estate loans, the banks and Wall Street will probably follow.
In the long run,
however, a lot of resort projects out there still make sense at 12% interest rate
and eight points closing fees. If you have an international commercial real
estate loan request of
$1 million USD or
higher, please contact us:
Enrique (Henry)
Saldana - Mexico Mortgage Solutions
Professional Building 28 - 2nd. Floor, Ste. 1
Carr. Federal Esq. con Constituyentes Edif. Playa Med
Playa del Carmen, Q. Roo C.P. 77710
Tel: (984) 873-1544
Cel: (984) 116-8528
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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