Just Got Started at Grad School

It is really exciting to be honest, because I have gotten a good teaching assistants job with one of the most prestigious professors at Vanderbilt. I am not really studying to be a physician, although I have to learn nearly all of the things that a doctor does. In fact I am trying to learn about biological engineering. I am really interested in some of the projects they have working on artificial organs here right now. Of course I have been focused on all of the mundane stuff like apartments in Nashville TN. I need one that I can afford that is relatively close to the campus. Continue reading →

These Modern Apartments in Henderson Are Unlike Others I Have Ever Seen

Home has to be more than just a place you go to to get some sleep between working and playing. It needs to be a place of refuge where you can relax, feel safe and enjoy spending time there. This is why home ownership has been a big part of the American Dream for so long. Now you can have that and more in apartment living. I never thought that would be possible. Many years ago I was adamant about never living in an apartment, now there are apartments in Henderson that have much more in the way of amenities than what I could ever afford when buying a house.

My wife and I found luxury resort-style apartments in Henderson that are everything we wanted. We have a beautiful kitchen with stainless steel appliances and granite countertops. Our living room is big. Continue reading →

Getting Settled in My New Place

When I moved down here I thought that I would look for a place by the beach, they have a couple of them right in the middle of the Tampa Bay area. However none of them were very close to where I am working and obviously I am not the first person to have this thought, it is pretty expensive to live the fantasy. In fact it would also be pretty crowded in these areas, so I started to look at apartments in South Tampa and I found something that was a great deal more practical to be honest. If all goes well I can get to the office in less than ten minutes and it is not much longer than that if things do not go perfectly well. In fact I could ride my bike there, but the traffic sort of makes that a lot sketchier than I would enjoy. Continue reading →

Understanding Multi-Family Apartment Building Mortgage Financing

If you are planning of constructing a multifamily apartment you can get a multifamily mortgage. You should note that the Canada mortgage and housing corporation (CMHC) and the lenders usually don’t review your total debt service (TDS) and gross debt service (GDS) ratios to determine whether you qualify for the financing-they focus on your overall net worth.

The lenders usually focus on the value of your liquid assets such as stocks, bonds, and equity in other real estates. Classic cars, antique dish collections, art, jewelry, and other valuable items aren’t considered as part of the overall net worth.

How to qualify for the multi-family mortgage

For you to quality for the loan the CMHC requires that you have a net worth of at least 25% of the loan amount that you are seeking. You should note that the 25% doesn’t include the down payment that you pay for the property. For you to qualify for any loan, you should have a net worth of $100,000.

What you need when applying for the loan

When making an application you should provide evidence of the assets that you have. This calls for you to provide investment account statement, bank statements, real estate tax assessments for other properties, and notice of assessments for individual tax returns.

You should also provide a document that shows that the guarantors have been approved by the credit bureau. For the guarantor to be eligible, he/she must have a credit score of 680 or more.

The most unique thing is that unlike other lenders who advise you to leave your full time job and concentrate in your investment, the CMHC and mortgage lenders want to see that you have income from full time employment.

This gives them comfort that you have steady income even if there is an economic downturn; therefore, you will still continue to pay the mortgage even if you don’t have tenants in your property.


This is what you need to know about multi-family apartment building mortgage financing. While the qualifying process might seem daunting, it’s very easy when you team up with the right lender.

For ideal results you should explain your future plans for the property and the lender will evaluate the transaction and guide you on how to realize your dreams.

Remember that there is great value in teaming up with the right lender who is well acquainted with the approval process and an expert in multi-family financing.

Article Source: http://EzineArticles.com/8908229

Multi-Family Apartment Loans

There are a number of different multifamily apartment financing programs available. They are generally divided into small apartment loans for properties costing between $1 million and $5 million, mid-balance loans for transactions between $5million and $25 million, and large financing programs lending for transactions with no specified upper limit, and a bottom limit of $2 million.

Small multifamily apartment financing

The Fannie Mae loan program offers financing for multifamily apartments with more than 5 rental units. The loan amounts are between $750 thousand and $3 million dollars and have terms of between 5 and 30 years. Another option in this category is a multifamily FHA loan, which is administered by HUD. These government loans are attractive because they do not depend on the volatility of the market. The source of financing remains in place because it is government allocated and controlled. Small conduit multifamily apartment mortgages are also available from 1$ million to $5 million and terms of 5 to 20 years.

Mid-balance and large multifamily apartment financing:

The same basic categories apply to mid-balance multifamily apartment financing as noted above. There are the Fannie Mae programs, FHA loans, and small conduit loans for these monetary ranges. There may be other types of loans available in addition to these so ask your loan broker about the programs they recommend.

How to get approved for multi-family apartment financing:

Specific programs have their own criterion for borrower approval. These lenders base their decision both on certain criteria that the borrower must meet and stipulations for the multifamily apartment being purchased. An example will serve to illustrate this.

Let’s say you are trying to take out a small multifamily apartment loan under the Fannie Mae program. They require that your FICO credit score be higher than 680, and that you have a minimum of 2 years’ experience with 2 multifamily properties. They also require that the post closing liquidity (that is, the amount of cash you will have after purchase of the apartment building) is equal to or greater than the loan amount.

As concerns the property itself, it must be able to demonstrate an average 90% occupancy in the 12 months prior to receiving the loan and it must have 5 or more rentable apartments. The properties are also restricted in most cases to 25 year amortization schedules.

Multi-family apartments are a good real estate investment in these troubled times. The demand for multifamily housing remains fairly steady and the existence of multiple players (i.e. the borrower, tenants, lenders, and possibly government sources) in the cash flow patterns of the transaction distinguish it from other lending and borrowing markets. So if you are thinking of getting into real estate investment, this is a potential area to consider.

Article Source: http://EzineArticles.com/6433523

Tips and Tricks to Make Your Portable Air Conditioning Unit More Efficient

Portable ac units have come a long way in recent years. They are more efficient than ever, but it is almost always possible to get a little more efficiency out of them.

Better air flow through the portable a/c means better efficiency. The easiest and most effective way to achieve better air flow is to replace filters regularly. Follow the manufacturer’s instructions as to how often to replace the filters. Washable filters are great because they can be washed every day for maximum air flow at all times.

Turn the unit on before it is needed. Don’t wait for it to get hot. This may seem like a waste, but it is actually more efficient, says MovinCool. The unit can get a head start on its job this way, and it will not have to struggle and run constantly to reach and maintain the desired temperature later. This tactic is used in schools, offices, churches and other larger buildings with much larger HVAC units.

Close off the area that is being cooled. Portable air conditioning units are meant to cool smaller areas, such as living rooms. It makes sense that the room should be closed off, but this simple way of boosting efficiency is often overlooked. Keeping the room closed off as much as possible will keep the cooled air where it belongs and reduce the load on the unit.

Style Tips for Modern Patio Furniture

Modern living on the patio has evolved, becoming an extension of the home and a favorite gathering place for friends and family. With more time being spent outdoors, creating an outdoor friendly, modern design with your patio furniture. Just as your sofa seat cushions should be comfortable and inviting, so should the cushions you use outside. Nothing modernizes your look like bringing it up to date with modern colors and patterns.

Selecting Cushions

Outdoor furniture cushions have evolved to meet the demand of high end users so there are more fabric textures, materials, colors and designs available than ever before. Once you select your cushions, you can match a durable outdoor paint and update your rusty patio furniture. This simple act can elevate the look of your modern patio and give it a homelike feel.


Modern patio umbrellas have also exploded in the number of patterns, colors and sizes too. An oversized, stand alone Umbrella can be used to keep the sun at bay while making a statement. Selecting a bold yellow umbrella set next to your outdoor chaise lounge of Caribbean blue creates a sophisticated look with contrasting colors. Just be careful your seat cushions aren’t mismatched, as it may throw off your entire color scheme.

Adding outdoor accents like tiki torches, outdoor fireplaces and water features make your outdoor area much more inviting. Of course no patio is complete without an umbrella for the table. Accent pieces for your patio also include planters, outdoor throw pillows, outdoor lighting and outdoor dinnerware. With careful selection, and these tips from The Foam Factory, drab patios can be transformed into sleek, modern masterpieces of the stylish outdoor living.

The Hidden Advantages Of Owning Apartment Houses Vs Single Family Houses

One of the first money making reasons to hold apartment houses and not single family houses is because there is loads of cash flow to be made in apartment investing. Apartments are always in demand – no matter the economy – so if cash flow is important to you then will generate it quickly. When you invest in apartments, your income has no cap. It’s solely based on your expectations and actions.

You can invest in apartment houses part time and eventually quit your job and live better. Serious apartment house investors spend their time finding more profitable deals. Once those deal are found and closed, they employ experienced property management companies who will carry out the day to day activities associated with maintaining an effective business. The purpose of the management company is to free the owner of the apartment building so he or she will have time to do the leisure activities that they enjoy most.

There is less competition in apartment investing verses single family home investing. Only a few investors know how to do it right, and are willing to talk about it. There is little written on the subject of apartment investing and those who do know want to keep it a secret.

There is a lot less risk when buying an apartment building. You don’t lose all of your cash flow if you lose a tenant, as you would with a single family home. Consider this – you can cut your risks by 2 with a duplex and by 4 with a quadplex. So imagine if you have more units under one roof, it will become even easier to absorb tenant turnover.

Apartment investing provides you the benefit of tax-deferred money. Your profits can be tax free (or at least tax deferred) though refinancing. This principle is called 1031 tax-deferred exchange. Performing a 1031 tax deferred exchange basically allows you to defer capital gains taxes on real estate bought and sold for investment purposes.

Economies of scale are realized when investing in apartments. Owning six units in one apartment building is better than owning six single family homes. The cost to maintain them is a lot less. Most importantly, other people pay your mortgage and expenses.

Apartments provide you with a fast price rise in an “up” market cycle and lower price fall in a “down” market cycle. Real estate markets are cyclical meaning it has cycles and phases. Each cycle is different and it depends on the economic environments. Knowing how to buy apartment buildings in each market cycle can lead to tremendous gains as well as avoid long term loss.

Apartment home investing is a ground-floor investing opportunity. Not many people are investing in apartment houses. It’s is a great time to invest in apartments because the economies of affordability of single family housing forces many to rent. The greatest demand for apartment homes is being created by the Baby Boomers children, who are called the Echo Boomers. In addition, lifestyle changes and elderly preferences are swelling the ranks of renters.

Multi Family Loans

Buying into an investment property for yourself and your family is a good way to get started in real estate. Whether you are looking to expand later on, or simply want to secure a future for your family, buying a multi-family residence is a great way to provide this need. Here are some things you will need to know about getting a multi-family loan for the apartment building of your choice.

A multi-family residence basically means that the building has more than one apartment in it. Applying for a loan for a multi-family dwelling is generally based on the number of apartments that the building has in it. For instance, if it has between two and four apartments, then you would need to get a residential loan. This type of loan is much different than your would need for a larger apartment building.

When you go to buy an apartment building that has more than four apartments in it, you will need to get a commercial loan. This article will focus on what you must do in order to get a commercial loan for your multi-family apartment building.

When you apply to a direct lender for your multi-family loan, it becomes necessary to get documentation on a number of things about the apartment building. In fact, the focus of the information will be on the apartment building itself – and not on you.

Documentation Needed

The first thing that will be needed is documentation about the renters themselves. It is possible that the government may fix some of the rent prices because one or more renters may receive government assistance. This means that their rent may not be increased without approval. Other things that will need to be discovered are how many renters are now in the building compared to how many apartments there are available.

It is important to note that the amount you can borrow on a multi-family loan is partially determined by the number of renters you have in the building compared to how many you could have. In fact, if there are currently no renters at all, then you probably cannot get a multi-family loan, but you would have to get a bridge loan first.

Other documentation required is that there be a complete income and expense statement provided for the last two years. This will be used to help determine the profitability of the building in relation to its regularly scheduled maintenance and projected costs.

Renters Needed

The amount of renters that are currently in the building in proportion to the apartments will determine just how much of a loan you can get. The more renters there are the better deal you receive.

Percentage Available

A multi-family loan will often provide up to 75% of the value of the building – some may go a little higher. The reason for this is because there will always be at least one vacant apartment from time to time, and this means a loss of income.

Necessary Profit Ratio

In most cases, the books for the multi-family building will need to show that there has been a ratio of profitability. This ratio is determined by income versus expense. Many lenders will go down to 1:1.1, but most may require a ratio of 1:1.2. They may also look to see that there is some reserve money available to cover emergency expenses and vacancies.

Loan Terms

Your multi-family loan may come with varied terms, but you can usually get your commercial multi-family loan for up to 25 to 30 years. Loan amounts often start around $250,000; others will start around $500,000.

Just in case you think you might feel safer if you had a way out – or at least an easier way out than losing the building, a way can be supplied. Multi-family loans can come with an assumable feature, making it easier to buy and sell the property.

Other Charges That May Apply

Commercial loans for multi-family dwellings will require an appraisal, title search, etc. In addition, though, there may also need to be an engineering report given, and an environmental report may be needed, too.

Key To The Best Deal

Remember that you can get the best deals by putting down a large down payment. This will reduce your interest rate and may also allow you to get some better features.

There is one final thing that will enable you to get the best deal possible – assuming that everything else looks good. If you and your family actually live in one of the apartments, you can get an even better interest rate. When you make the investment personal, and live in it, the lender likes this idea enough to give you lower rates.

The simple reason is that, if you live there, you are less likely to not make the required payments – even if things get a little rough financially. Since your own residence now is at stake, the lender feels more comfortable and has greater confidence that you will make the payments.

Apartment Property Managers Focus On Water Conversation Through Sub-metering

Water conservation is a growing trend among municipalities, townships and through-out the multi-family apartment industry. In a three year study by the National Multiple Family Submetering and Allocation Billing Program”, the potential savings in the apartment sector from requiring residents to pay for their water consumption separately from their rent, found that billing residents for their water usage by direct metering could reduce annual water consumption by an average of 15 percent. This latest research supports the apartment industry’s known fact that people always place greater value on things that they pay for. Not only do residents use less water when they are paying for it, but it also makes them more aware of the importance of immediately reporting plumbing leaks. A balanced and well implemented utility billing program is one of those rare issues that water companies, regulators, water conservation groups, property management companies and apartment / condominium owners can all be united. American Accounting and Billing Service (AABS) a nationwide full-service utility billing company with the reputation for the lowest billing fees and highest-rated customer service department has compiled a few benefits of why apartment owners and property management companies should install automated meter reading (AMR) water metering systems.

Water sub-metering immediately increases property value and cash flow more than any other ancillary service or comparable capital investment.

A water submetering system provides for the fair allocation of the property’s water and sewer utility costs among its tenants (Allocation or Ratio Utility Billing do not always allocate fairly, according to the USEPA) so residents are happier. Tenants billed for actual water usage will be able to directly affect water consumption and utility costs by becoming more knowledgeable and responsible users.

Water submetering has been shown to decrease water consumption by as much as 8,000 gallons per unit per year according to the USEPA, when compared to non-metered properties thus conserving one of our nation’s most valuable resources.

Water and sewer rates and other utility rates are rising as much as 10% or more per year on average. Some areas of the country have seen water rates double in the last year. A water submetering project will protect the property owner from the rising water and sewer utility costs.

The property owner can increase the NOI immediately because payback is fast and monies formerly allocated for water and sewer utilities can be reallocated for maintenance and or renovation, a project which further increases property values.

These benefits are achieved without increasing the workload on the property’s staff and without the associated liability and costs of monthly visits by a utility meter reader.

Implementing a third party water sub metering billing program helps to conserve water and energy and protect the environment.

There is no question that our business has grown steadily for the past five years because owners are now realizing that water and sewer costs can be avoided by putting in place a successful third party billing system” says Sam Kordares, AABS President. We here at AABS are now expounding on the notion of water conservation through water submetering to include tapping into the municipality and township sector” Kordares says. Having everyone responsible for their own water usage is the first step to conserve one of earth’s most precious resources.