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Mixed-Use Projects by Tom Markel

The term "mixed-use" is generally used to refer to real estate projects that will have a mix of residential and commercial uses. A percentage of the units will be set aside for living or residential rental space, and the rest will be office or warehouse. Mixed-use projects are considered a good investment by most because the diversity of purpose makes them less likely to experience high vacancy rates. Usually, at least one side, the residential or the commercial, will be doing well when the other struggles. For a bank being solicited for commercial mortgages, mixed use projects are a high priority.
Evaluate the property before you apply for a commercial mortgage to buy a mixed-use project. Decide how much space will be dedicated to residential space and how much for office or warehouse. Is it possible to change those percentages if you need to? How much of the space can be used for either purpose? Do the offices contain kitchens and full bathrooms? If not, having them installed will increase the value of the property and give you more options. Lenders like to know that there's more than one option for income generation. A mixed-use property offers a few, but how flexible are your options? Rental markets change quickly. Are you able to adapt?
A business plan for a mixed use project should be several pages in length. There are a number of monthly expenses you need to outline, permits and licenses required for residential and commercial renting, advertising costs, and maintenance fees. All of these have to be taken into account before you can apply for a commercial mortgage. Knowing how much it will cost to run a project like this and how much you'll bring in from rents and leases is critical to your success. If you can't answer those questions about a project of that magnitude, the bank will not approve you.
Fill out our iBank application form and we'll shop your request to our list of banks and other lenders. If you've done your homework on mixed-use projects and have a plan of action that makes sense, you should be approved by multiple lenders. That's the main benefit to doing business with iBank. We'll do more than just find you a bank to give you a commercial mortgage; we'll find a few of them. You can pick and choose and make them compete against each other for your business. 

Most Recent Postings

Type Amount Location Date Posted
Mixed-Use Projects $200000 San Diego,
October 20, 2014
9:34 AM
Mixed-Use Projects $500000 Bradenton,
October 17, 2014
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Mixed-Use Projects $375000 Galloway Township,
October 15, 2014
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Mixed-Use Projects $2650000 Fayetteville ,
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Mixed-Use Projects $500000 orange,
October 13, 2014
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Mixed-Use Projects $425000 dodge city,
October 10, 2014
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Mixed-Use Projects $120000 Valencia,
September 30, 2014
3:25 PM
Mixed-Use Projects $200000 Birmingham,
September 29, 2014
3:06 PM
Mixed-Use Projects $50000 Henderson,
September 11, 2014
12:55 PM
Mixed-Use Projects $500000 BATON ROUGE,
September 10, 2014
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