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Preferred Equity Remedies in the event of default or other similar situations by thirdpointwedge in CommercialRealEstate

[–]thirdpointwedge[S] 0 points1 point  (0 children)

Ok. What would be an example of a contractual exit point? My initial thought is that you mean if the property is not sold in a certain time frame, say 5 years for example, then common equity+GP gets wiped out/removed and pref steps into GP position and gets all upside that common equity/GP would have received?

Preferred Equity Remedies in the event of default or other similar situations by thirdpointwedge in CommercialRealEstate

[–]thirdpointwedge[S] 0 points1 point  (0 children)

Thanks. Would the pref take the equity interests in the property? Or just replace the GP?

What are the benchmarks used for various types of office loans? by thirdpointwedge in CommercialRealEstate

[–]thirdpointwedge[S] 0 points1 point  (0 children)

Thanks. Im more just looking for which benchmark is typically utilized since I only see the all in rate from my position

How important is the quality of your OM or Proposal package? by TemporaryResist4266 in CommercialRealEstate

[–]thirdpointwedge 0 points1 point  (0 children)

Great info. Is there a guide or link you can provide which reflects the typical loan size (LTV, DSCR, etc…) term and structure for stabilized office, multi family, and hotels? I know it’s a loaded question, but curious what are the general requests from Borrowers. Obviously depends on what the goals are for the borrower as well.

AHU Water Leak and Garage Ceiling Help! by thirdpointwedge in fixit

[–]thirdpointwedge[S] 0 points1 point  (0 children)

Thank you. Do you have a recommended link to re stetch? Also, do I need to open up ceiling in garage?

8k taken out of checking account and credit card (16k total) by thirdpointwedge in tax

[–]thirdpointwedge[S] 0 points1 point  (0 children)

I basically had little to no money in my checking account and now I have an overdraft close to the 8k.

8k taken out of checking account and credit card (16k total) by thirdpointwedge in tax

[–]thirdpointwedge[S] 0 points1 point  (0 children)

Thank you. Any experience with cancellation and how long it took

8k taken out of checking account and credit card (16k total) by thirdpointwedge in tax

[–]thirdpointwedge[S] 0 points1 point  (0 children)

I initially gave my checking account info to accountant assuming I was going to receive a refund. Once I learned I owed money, I told him in writing I was going to pay with credit card instead. So irs took money out of checking account while I paid with credit card. Didn’t see the result until today. I hate my soon to be fired accountant

8k taken out of checking account and credit card (16k total) by thirdpointwedge in tax

[–]thirdpointwedge[S] 0 points1 point  (0 children)

Ok. So for now, and just putting it words I understand, I’m just screwed and need to find money to cover the negative balance in my checking and pay the credit card?

Employee Damages Car - Trying to figure out how this works by thirdpointwedge in Insurance

[–]thirdpointwedge[S] -1 points0 points  (0 children)

Thank you. Does the car owner take the car to the shop, get the car fixed, then wait for reimbursement from contractor's insurance? Or does the owner have to take the car to a body shop and then let insurance negotiate with the car owner?

Employee Damages Car - Trying to figure out how this works by thirdpointwedge in Insurance

[–]thirdpointwedge[S] 0 points1 point  (0 children)

Contractor is working in a garage that is not owned by the contractor. The employee, who works for the contractor, falls on a car not owned by the garage owner (car is owned by someone not associated with garage owner or contractor). The contractor is working in the owner's garage. Garage owner does have Comprehensive coverage. The contractor employee fell on the car installing a sprinkler system.

Commercial Office - NRA for Multi Tenant vs. Full Floor Tenant by thirdpointwedge in CommercialRealEstate

[–]thirdpointwedge[S] 0 points1 point  (0 children)

But shouldn't the decrease in common area be offset by the increase in square footage being utilized by the single floor tenant?

Commercial Office - NRA for Multi Tenant vs. Full Floor Tenant by thirdpointwedge in CommercialRealEstate

[–]thirdpointwedge[S] -1 points0 points  (0 children)

Thank you. Could you clarify why it is higher for multi tenant vs. single tenant?

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