Is Atlanta Your Next Value-Add Play?
Investors are flocking to Georgia's capital — find out why. Also, do you understand how prepayment penalties work for your multifamily loan?
The Multifamily Minute takes a look at the latest news and trends across the multifamily industry, featuring content from Janover’s affiliated sites.
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How Do Step-Down Prepayments Work?
Getting ready to pay off your multifamily loan early? Awesome. Does your loan have a step-down prepayment penalty clause? … Less awesome, potentially. If you’re not sure about the ins and outs of paying off your loan early, I’m sure everything’s there in the fine print of your mortgage docs. But if you’re looking for a more digestible version of how these prepayment penalties work, check out the Multifamily Loans blog.
What You Should Know About Area Median Income
Area median income, or AMI, is one of those terms that gets thrown around a lot in the affordable housing world. And for good reason: It’s an essential metric for determining eligibility for affordable housing. The Department of Housing and Urban Development releases new figures every year for every metro (and rural county) in America. Find out more on the HUD Loans blog.
Atlanta Value-Add Opportunities Heat Up
Last year, the metro’s multifamily deals exploded, with upwards of $21 billion in transactions closing. This year’s off to a strong start, too. But the interesting thing to note isn’t how much is selling, but rather what. In most markets, Class A properties have been the safest bet. And, yes, plenty of high-end communities are selling in Atlanta. But value-add opportunities — meaning Class B and C properties that just need a bit of love (or, fine, capital improvements) — made up more than 70% of Atlanta’s deals this year. Read more on Multifamily Today.
Are Bridge Loans Right for You?
Getting permanent financing for an apartment property can be a slog, we know. That’s especially true if you’re doing all the legwork yourself to lock in a good loan from an agency lender. What if you need some stopgap financing while you’re waiting on that long-term debt? Enter bridge loans. Bridge financing has its pros and cons — which you can read all about on Apartment Loans — but if you need that funding to come in ASAP, they may be a solid option for you.
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