BROADCASTS.com

b'We hear from Geoffrey Buscho as he shares his experience of buying a carwash with an SBA loan. He reveals how he found the deal, negotiated it, and explains the advantages and disadvantages of using an SBA loan for real estate investments. We\'ll also hear about the complexities of a first-time commercial property purchase and securing an SBA loan. Geoffrey will cover the three different entities involved (the primary lender, CDC, and SBA) and the timeframes associated with each. Plus, he\'ll discuss the fees associated with an SBA loan, as well as emphasize the importance of researching lenders ahead of time to better understand the fee structure and timeline before entering a contract. Finally, Geoffrey will share his key takeaway from this experience - that no matter what you are doing, never take no for an answer and always be creative in finding solutions. Tune in to this episode to gain insight into how to invest in real estate with a non-traditional loan option - an SBA loan.\\n\\n[00:01 - 06:54] Acquiring a Carwash with an SBA Loan\\nGeoffrey Buscho recently acquired a carwash with an SBA loan\\nThe property was appealing due to its location, condition, and potential for passive income\\nJeffrey is a new investor who pivoted from residential real estate investing to commercial real estate\\nHe is active on Bigger Pockets and has invested over 150 million in multi-family and self-storage acquisitions\\n\\xa0\\n[06:46 - 13:16] Exploring the Benefits and Complexities of an SBA Loan for Real Estate Investment\\nUpdated financials and interest rate fluctuations caused the third offer to be lower\\nSBA loans are chosen due to less risk for the bank and more favorable lending rates\\nSBA loans take longer to close and have fees associated with them\\n\\xa0\\n[13:17 - 24:40] Navigating the Complexities of an SBA Loan\\nThe SBA loan process typically takes 75 days to close\\nInvolves three entities: primary lender, CDC (certified development company), and SBA\\nQuestions to ask at the beginning: who is the CDC and how confident are they in their ability to underwrite\\nShop around for different SBA lenders to get an idea of fees, structure, timeline\\n\\xa0\\n[24:41 - 28:15] Closing Segment\\nGeoffrey\\u2019s best investment: a daily planner to increase productivity\\nGeoffrey\\u2019s worst investment: not applicable as all investments have yielded some benefit\\nMost important lesson learned in business and investing is to approach all investments with no expectations\\n\\xa0\\nConnect with Geoffrey through Facebook, and Bigger Pockets.\\xa0\\xa0\\n\\xa0\\nInvest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/\\nParticipate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your terms.\\nJoin our Passive Investor Club for access to passive commercial real estate investment opportunities.\\nLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\n\\nQuotes:\\n"It has been extremely important to think very quickly, very critically, and very creative in how to solve problems. It\'s very easy that this deal could have been dead in the water if we didn\'t have some quick reaction.\\u201d - Geoffrey Buscho'