An active commercial real estate broker in the market area referred his clients over to us. Two nice ladies (they were sisters) that were seeking to refinance their apartment building because their existing first trust deed was coming due.
Initially the transaction started off as two APN's but when we visited the site location we learned that one of the APN's was a home that was vacant and going through a complete renovation that was not going to be done prior to an appraisal. The borrowers did not live in the immediate area and the best way to correspond ended up being through the mail.
We advised the borrowers to take the SFR out of the equation, without that APN it did not affect what we were trying to accomplish for them. It actually helped them out by having the loan only tied to the multifamily units. ALB delivered the goods again, and we were so happy to hear the borrower's comment on how painless and simple the process was for them. It's these kinds of remarks that are the biggest rewards for us here at ALB. Give us a call on your next transaction and let us show you how hard we work to win you over.