Welcome to episode 46 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson and Brad explain everything you need to know about Commercial Mortgage-Backed Securities (CMBS), and when it’s the right time to get one. Is CMBS financing right for you? Get a crash course on it in this week’s episode!
Key Takeaways:
[2:20] How does CMBS work?
[7:05] Most commercial mortgage brokers deal with CMBS loans.
[8:15] If your mobile home park’s purchase price is just above $2 million, that’s when you’ll be getting a bit of CMBS attention.
[12:40] Who ends up owning this debt? Individual investors or institutions?
[14:15] You definitely want to go with a mortgage broker that has experience with CMBS and mobile home parks. If not, the process might be tougher for you to acquire the loan.
[16:30] Another thing, be sure to have your lawyers present when applying for CMBS financing.
[20:40] Try to keep your entity structure as simple as possible.
[22:35] What does the ‘springing lockbox’ term mean in this context?
[25:15] Brad gives some advice about finding the right lawyer.
Mentioned in This Episode:
Park Street Partners www.parkstreetpartners.com
Mobile Home Park Investors www.mobilehomeparkinvestors.com
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
