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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (3223)	11/18/1998 12:36:00 PM
From: ratan lal	Read Replies (1) of 12475

I guess Ratan Lal told us on the Dell thread one time he had trouble getting loans as well in the New York area on his properties or something like that. it was something like that except the property is in El Paso, TX and the tenant is a NYSE co. Commercial real estate lending is a very tricky biz with a lot of crooks operating in it. To get a loan, you need to give an application fee of 1% of the loan. then another 1% when they approve the loan (both supposedly refundable. BUT they have your money and you need to go get it) plus all costs of appraisal, survey etc etc and legal fees - none refundable. The whole thing is very vague so they change the terms on you. Now if you donttake the loan, you are out of pocket thousands of dollars and have to restart the whole process. Needless to say, if commerical propery is not your maiin biz, i would recommend staying out of it.

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