Archive for the 'Buy Your First Apartment Building E-Course Reviews' Category

How to Pick a Commercial Loan Modification Company

Knowing how to pick a commercial loan modification company can be a difficult task. There are many factors to consider and the most important is to first decide whether you are good candidate for a commercial loan modification. Many commercial real estate owners have seen their property values decline between 30% and 50% depending on where their properties are located in the country. The major reason for the decline in commercial property values for most people is the vast increase in vacancies seen for multifamily properties, office buildings and retail centers.

The economic recession has forced many businesses, large and small into bankruptcy and many renters in apartment buildings have decided to take on roommates or move back in with family. The second reason for falling commercial property values is the fact that it is now extremely difficult to find financing for any kind of commercial real estate. For example, just a few years ago it was common to see commercial loans underwritten with loan to value ratios of 85%, now the new standard is 60%. Most commercial loans are 5 or 10 year loans that balloon. This means that in 2010 there will be a record high number of loans ballooning and no banks or lenders ready to provide financing on these properties. For many commercial property owners the best option that they have is to initiate a commercial loan modification. The apartment building owner who has seen his occupancy fall from 85% to 50% has no chance whatsoever right now of refinancing his property without resorting to a hard money lender whose rates average between 10% and 20%. Hard money loans for most business owners under financial hardship are not a realistic solution that will allow him or her to stay in business.

A commercial loan modification offers the property owner the possibility of extending the terms of his or her loan with the lending institution while lowering the interest rate dramatically and occasionally even lowering the loan principal. Compared to losing the business or paying astronomical interest rates with a hard money lender, a commercial loan modification is the commercial real estate owner’s best option. However, before signing on the dotted line, a commercial real estate owner must do their homework and find out exactly who will be negotiating with their lender and how much experience that company or person has actually performing successful commercial real estate loan modifications.

Experience is the key to success in commercial loan modifications. If you type in “Commercial Loan Modification” into the Google search engine you will find dozens, if not hundreds of companies that are now offering commercial loan modification services across the United States. As of right now, this is an unregulated industry that doesn’t require any kind of licensing or qualifications. This means that literally anyone can put a sign on their door and call themselves a commercial loan modification company or expert. It is truly a case of caveat emptor. The commercial real estate owner is wise to begin his search by investigating the background and experience of each company that he is considering doing business with. Remember, the best salesman may not do the best job on your commercial loan modification.

Ask these questions about the commercial loan modification company:

1) Does the commercial loan modification company have lawyers on staff?

2) Does the company only do commercial loan modifications or is most of their business conducted doing residential loan modifications?

3) Does the commercial loan modification company have references from successful commercial loan modifications that have been performed?

4) What are the backgrounds of the key executives? Do they have a long career and track record in the commercial real estate industry?

5) Does the company offer a money back guarantee on their services?

6) Does the company have qualified and experienced lawyers on staff?

7) How is the Google reputation of the company? What kind of information comes up in the search results for Google when you type in the company name?

Has the company published articles or information in any recognized industry journals or websites?

Ask these questions of the person who will be performing your commercial loan modification negotiation:

1) Who is the actual person that will be negotiating with the bank on my behalf?

2) How many years of commercial real estate experience does this person have?

3) Does the commercial loan modification negotiator have any industry designations such as the Certified Commercial Investment Manager (CCIM)?

Good Day Ted;

I have been reading your details on your website, I get excited of going for your course, but I hate to admit this but I have to, About 4 weeks ago I bought another course of buying apartment buildings, I cant say who I bought it from, it stated practically the same as yours, and about the same price, but when I got to download the “course” all it was, was a 24 page reading, it was not what I expected, no tellng me how to start, no telling of who to talk to, no methods of how to actually buy apt.buildings, nothing, I felt very discouraged, scammed, and this person has been into commercial property for 3 decades. I called and asked where is the course, they stated that the whole course would cost $1400, what I downloaded was just a teaser, well thats what I take it as. not to make this into a novel, my question is this, your course is about $100, am I to get what it states on your website or is there going to be a teaser, like the others?
any help would greatly be welcomed

Thank You
Agustin

Hello Augustin,

Thank you for the email. The Buy Your First Apartment Building E-Course gives you all of the information, tools, software and knowledge to buy your first apartment building, even if you have no prior experience. There is nothing else to buy.

Sincerely,

Ted Karsch

Hi Ted,

I have actually purchased your e-course and have read it. There is some good informative information in it that will be useful. I am also doing additional reading on apartment building investments and hope to have enough knowledge to be able to purchase a building soon. The challenge is in finding a good investment and being able to come up with the down payment. This is something that I am very serious about and will succeed in, and your course will help in achieving my goals.

Sincerely,
Jag

Hello Jag,

Thank you for your kind words. I am glad that you found my E-Course to be very helpful. Please contact me at anytime if you run into any roadblocks.

Sincerely,
Ted Karsch, Creator the “Buy Your First Apartment Building E-Course”

—–Original Message—–
From: apartmentcourse@aweber.com [mailto:apartmentcourse@aweber.com] On Behalf Of Ted Karsch
Sent: Monday, June 08, 2009 2:29 PM
To: Jag
Subject: I know that my website is ugly…

Hi there,

I noticed that you are reading my mini courses and that you visited my landing page a few times.

Many of the real estate investment “gurus” out there spend a lot of time and MONEY building fancy websites with super graphics.
(One guy even has a video of himself driving a Ferrari.)

I’m not one of those “Gurus”. Frankly, I’m too busy working as a commercial finance consultant and investor to care about making my web pages pretty.
But, I do care about offering the best EDUCATION to every one of my students. That’s why I added these bonuses to the course:

1) The Cash Flow Factory: (a $49.95 value)

– Cash Flow Factory SOFTWARE does all of the math for you
– It figures out Debt Service Coverage Ratio for you
– Automatically computes your net profits for the next FIVE YEARS

2) The Profit Booster: (a $39.95 value)

– User friendly models to raise rents, cut costs and SUPER CHARGE
your Net Income

3) The Money Bag: (a $79.95 value)

– Money is everywhere! You just have to know where to look.
The Money Bag has done the long and painstaking work for you.
Sit back and relax.
– Hard Money, Owner Financing, No Money Down, Bank Loans,
Insurance Company Loans, Cash Back At Closing, Owner Notes
….Plus A Lot More.

My E-Course is constantly being improved. Real estate markets are changing quickly and the same methods that worked last year probably won’t have the same success this year.

I don’t believe in any “magic” systems or formulas. My E-Course doesn’t teach them either. Mostly because they don’t work. Over time I have figured out that there really is only one formula for success in any investment
undertaking:

Education + Effort = Success.

My E-Course provides you with all of the information and education that you will ever need to locate, buy and manage highly profitable and successful apartment building investments. The effort part is up to you.

The Chinese have a saying; “the journey of a thousand miles begins with the first step”. I invite you to take a journey with me. One that begins with a first class education in apartment building investments and ends with a profitable real estate portfolio.

I understand that the freedom of monthly cash flow may seem like an unattainable goal in your life right now but my E-Course will show you, every step of the way, how to get there.

So, put your doubts behind you. Don’t judge my E-Course by its ugly cover.
Once inside you may discover yourself on a journey that changes your life.

Begin here:
http://www.ApartmentBuildingInvestor.com/ecourse.html

As always, if you decide it’s not for you, I will refund all of your money and the education was free.

Sincerely,

Ted Karsch

Ted:

Five years ago, I borrowed money to take Dave Lindahl’s “One Deal To Retirement” apartment buying course. At that time, the course cost me $500.00 I didn’t have! I really wanted monthly cash flow, so I threw my heart and soul into the course. Somehow I got connected with Dave’s right-hand assistant, and found out that Dave wanted to purchase a building with certain criteria in the Oklahoma area.

I worked hard to meet that criteria, and found a building for which Lindahl signed a purchase agreement. Because I cared to learn the “language” and communication skills necessary, Dave’s assistant thought I had taken one of his $5,000 seminars. When I told the assistant I had not taken the seminar, I learned I could not take an equity position in the building, but could only get a finder’s fee. In this particular instance, it was $40,000.00. This was in 2005. When Lindahl heard I had not gone to a seminar, he immediately “backed out” of the building. He did not want to give me a finder’s fee if I had only purchased his $500.00 course.

The experience ended badly. Dave emailed me and said, “I forgive you since I’m a Christian, but I want nothing more to do with you.” So I was forgiven for finding him a building that met all his criteria. When I called his office and spoke with his office manager, a lovely lady named Jeannie, she was “blown away” that Dave appeared not to wish me to receive the bird-dog fee. Jeannie recalls Dave’s mother being in the office at the time, and her eyes were rolling around. Dave was embarrassed that I was bringing up such a situation in front of his close associates. Jeannie told me this is why he backed out of purchasing the building. In short, if you don’t buy the full $5,000 seminar, you can’t play the game.

I was devastated! But I was wrong! I allowed Lindahl to crush my spirit! I never should have allowed myself to feel defeated! But since then, I am a student of meditation and positive thinking. I want another chance to try again to make my dreams come true through apartment acquisitions, syndications and wholesaling.

Why am I telling you all this, Ted? Because again, I have borrowed money ($3,000.00) to pay the Lance Edward’s group $2,695.00 for his home study course and mentorship.
They don’t have my money yet! I would like to have a small amount of support if I get into a crunch on my journey!

If you are offering all the material I need — why should I spend the money with Lance’s group? They don’t even offer their students cash flow analyzing software When I asked the training coordinator why they didn’t offer this kind of software, the guy stated that it wasn’t necessary (a whole heckuva lot faster and more accurate, though!) they just use a list of due diligence stuff on a piece of paper.

So, sorry Ted, for baring my soul. But I’d like some great training without having to get in bed with a buinch of bucks needlessly. Can I get everything I need from your course for sure? And, when I’m completed, are you reachable for assistance if ever I were to need it?

Warm regards,

Marje

Dear Marje,

I’m sorry to hear that you had such a disappointing experience with the Dave Lindahl apartment building course. Rest assured that if you don’t find any value in my “Buy Your First Apartment Building E-Course” then you can get a no questions asked refund at anytime. Also, I am available to help you anytime by email.

Good luck,

Ted Karsch

Hi Ted,

Thank you for all of the free information. It is inspiring to know that I don’t have to spend thousands and thousands. I just went to a Richdad/Wealth Intelligence seminar and it was informative but a better statement would be to say it was probably one of the best, well-honed sales presentations of our time. I did not sign up for the additional, expensive courses and decided to think it over.

I have to be short for now but will contact you again,

Jason

—– Original Message —-
From: Ted Karsch
To: Jason Steeves
Sent: Friday, October 17, 2008 5:49:21 AM
Subject: I know that my website is ugly…

Hi there,

I noticed that you are reading my mini courses and that you visited
my landing page a few times.

Many of the real estate investment “gurus” out there spend a lot of
time and MONEY building fancy websites with super graphics.
(One guy even has a video of himself driving a Ferrari.)

I’m not one of those “Gurus”. Frankly, I’m too busy working as a
commercial finance consultant and investor to care about making my
web pages pretty. But, I do care about offering the best EDUCATION
to every one of my students. That’s why I added these bonuses to
the course:

1) The Cash Flow Factory: (a $49.95 value)

– Cash Flow Factory SOFTWARE does all of the math for you
– It figures out Debt Service Coverage Ratio for you
– Automatically computes your net profits for the next FIVE YEARS

2) The Profit Booster: (a $39.95 value)

– User friendly models to raise rents, cut costs and SUPER CHARGE
your Net Income

3) The Money Bag: (a $79.95 value)

– Money is everywhere! You just have to know where to look.
The Money Bag has done the long and painstaking work for you.
Sit back and relax.
– Hard Money, Owner Financing, No Money Down, Bank Loans,
Insurance Company Loans, Cash Back At Closing, Owner Notes
….Plus A Lot More.

My E-Course is constantly being improved. Real estate markets are
changing quickly and the same methods that worked last year probably
won’t have the same success this year.

I don’t believe in any “magic” systems or formulas. My E-Course
doesn’t teach them either. Mostly because they don’t work. Over time
I have figured out that there really is only one formula for success
in any investment undertaking:

Education + Effort = Success.

My E-Course provides you with all of the information and education that
you will ever need to locate, buy and manage highly profitable and
successful apartment building investments. The effort part is up to you.

The Chinese have a saying; “the journey of a thousand miles begins with
the first step”. I invite you to take a journey with me. One that
begins with a first class education in apartment building investments
and ends with a profitable real estate portfolio.

I understand that the freedom of monthly cash flow may seem like an
unattainable goal in your life right now but my E-Course will show
you, every step of the way, how to get there.

So, put your doubts behind you. Don’t judge my E-Course by its ugly cover.
Once inside you may discover yourself on a journey that changes your life.

Mr. Karsch, thank you for all the valuable information you share, I am inspired! When I tried to follow the link below, I receive this error message “The page you tried to access does not exist on this server”. Please advise if there is a different link. Thanks, Laura
— Ted Karsch <ted@apartmentbuildinginvestor.com>
wrote:

> Hello New Student,
>
> Many of my mini-course students have been asking me what are the
> realistic investment returns that can be experienced by apartment
> building investors. So I created a special audio lesson titled:
>
> “How to Make a Profit of $115,454.24 on One Apartment Building
> Purchased for $300,000.00″
>
> You can view the free lesson at the following link.
>
>
http://www.ApartmentBuildingInvestor.com/Special_Message3.html
>
> Sincerely,
>
> Ted Karsch
>