Bank Finance Truck Parking?

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  • Опубликовано: 23 дек 2024

Комментарии • 33

  • @industrialize
    @industrialize 9 месяцев назад +7

    I love the small BMW pylon that makes it look like you're wearing a tiny hat 🎩

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  9 месяцев назад +2

      I'm keeping it there

    • @industrialize
      @industrialize 9 месяцев назад +1

      Also didn't have a wardrobe change mid-video on my bingo card! Like button hulk smashed!

  • @JLewis-wh6vd
    @JLewis-wh6vd 9 месяцев назад +2

    Micron is building a large new plant in rural upstate New York. Would this, or other similar developments, be good candidates for scouting land for truck parking? Or would it be better to look to areas adjacent to major cities with interstate access?

  • @trinikachachere7113
    @trinikachachere7113 14 дней назад +1

    Do you have any companies that you would recommend for these commercial loans?

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  14 дней назад

      Yes, start with your local banks. Where do you keep your money now? Avoid national banks.

  • @AlmirPalic-f1o
    @AlmirPalic-f1o 29 дней назад +1

    is there a certain bank you suggest for this? i found land i want to finance in my business.

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  29 дней назад

      local lenders, construction lending is the key product. where do you currently hold your money?

  • @tranquilsounds747
    @tranquilsounds747 5 месяцев назад +3

    Love your videos! I am breaking into starting a Trucking, RV, Boat, Etc. Storage business but instead of buying the land, I am thinking about leasing industrial land that has all the bells and whistles (Paved, Fence, Automatic Gate, and Security). Do you think leasing land is a wise approach? I can definitely see the cons to this but I would love to hear your thoughts!

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  5 месяцев назад +1

      Leasing as a landlord? Yes it’s more of a business with marketing and employees with some on site work. But that’s a great product to explore

    • @tranquilsounds747
      @tranquilsounds747 5 месяцев назад

      @@RonaldRohdeLaw I like that idea too but what if you're just starting a Trucking, RV, Boat, Etc. storage business for the first time but you want to lease a piece of land (Paved, Fence, Automatic Gate, and Security) instead of buying and prepping the land for the business concept. Thoughts? I am in the Pinellas County, FL Area and buying industrial land or buying an existing Trucking, RV, Boat business is way too pricey and the financials aren't matching the pricepoint whatsoever.

  • @shellshell270
    @shellshell270 8 месяцев назад +4

    Do you have to have business credit to recieve this type of loan ? If not what would be the requirements to recieve these types of loans ?

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  8 месяцев назад +1

      No business credit needed. Income of the property

  • @whiskeyone97
    @whiskeyone97 9 месяцев назад +2

    What sort of entity do you suggest setting up when two people get together to start a truck parking lot business? 50/50 partners

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  9 месяцев назад

      Without knowing more, LLC. Cost effective, flexible and efficient

  • @ivanjmartinezt
    @ivanjmartinezt 7 месяцев назад +1

    Is it possible to acquire land on seller finance and then use that land as collateral for a construction loan?

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  7 месяцев назад

      Probably not. If the seller has a first lien, it won’t count as equity for a loan unless you throw in cash on top

    • @ivanjmartinezt
      @ivanjmartinezt 7 месяцев назад +1

      If seller agrees to subordinate their note, is this something the banks will then be ok to use that as equity?
      Also, can investors contribute with the equity position required for financing?

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  7 месяцев назад

      @@ivanjmartinezt sometimes yes, you still want some equity cushion, but it depends on the global LTV and each lender.

    • @ivanjmartinezt
      @ivanjmartinezt 7 месяцев назад +1

      Could you share some lender info?

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  7 месяцев назад

      @@ivanjmartinezt really depends on market, are you in Texas?

  • @garcia3424
    @garcia3424 6 месяцев назад +1

    With a construction loan, would they cover the purchase of land and construction, or just the construction. Also is it about 20- 25% down of the total cost if it is my very first investment property?

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  6 месяцев назад +1

      Yes you can close the loan at land closing. I do not think you’ll be at 80% LTC though.

    • @garcia3424
      @garcia3424 6 месяцев назад

      @@RonaldRohdeLaw thank you for the Reply, do you recommend to get a loan for land and construction separately?

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  6 месяцев назад +1

      @@garcia3424 no, at this point you'd put the land as collateral for the construction loan

    • @garcia3424
      @garcia3424 6 месяцев назад

      ​@@RonaldRohdeLaw thank you, what loan would you suggest then for someone who just wants to buy vacant land and then turn it into truck parking.

    • @RonaldRohdeLaw
      @RonaldRohdeLaw  6 месяцев назад +1

      @@garcia3424 Construction loan and acquisition loan, they can be combined, you'll get 6-12 months of interest only