Monthly Archives: May 2013

The Comeback kid–For Developer, 3 Could Be Charm

From the WSJ---- You can never give up and need to learn from the past,

By ELIOT BROWN

Ian Bruce Eichner, a developer whose high-profile problems became symbols of the last two real-estate busts, is in final stages of a deal to buy a condominium development site near Manhattan's Flatiron Building.

Message I just got:

“Hi Jack, Its JL calling from Boca Raton Beach Florida, I just wanted to say thank you we just signed a new note today, all your suggestions worked out fine for us and I owe you big time” This was from the owner of a small chain of restaurants who had a balloon note coming due, and did not have...
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Warning: Property Foreclosures Ahead Small companies face balloon payments on their mortgages—and no way to raise the money

As posted in the Wall Street Journal

By EMILY MALTBY

Many small firms that own commercial property are facing big trouble The problem is simple: Banks typically re-evaluate commercial mortgages every five to 10 years. At that point, they can renew the loans, or ask business owners to pay them off. These days, lenders are a lot less...
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