ASSIGNMENT:

A past client was in a 1031 exchange, he had been selling off multifamily properties that he owned in the Inland Empire and transitioning into NNN type investment properties out of state.

CHALLENGE:

The biggest challenge was first the client identifying the property.  We had looked into multiple deals for them until finally a decision was made. Other than that there was a lot of slow response on items but we have to give credit to the Listing agent he really went above and beyond on this transaction.

SOLUTION:

We placed the borrower into a 5 yr fixed loan that resets for another 5 years. The lender had a reduced 3,2 1 prepay with hopes by all that in 3 yrs the rates will come down.