A Free Solution to Commercial Real Estate Listing

Deven Richter identified a problem in marketing commercial real estate and set about to solve it. Sometimes there is a price barrier that is just a little bit too high for people to get involved in commercial real estate. He created a website (myelistings.com) that allows everyone to list and find commercial properties for FREE. To be specific, currently only commercial firms and agents can list commercial properties, but it is open to the public to search and view listings.

Another great feature with this commercial real estate listing service is that commercial firms and agents can distribute their listings nationwide. For example, if you’re an agent in Austin, TX, but you do a lot of business in Florida, you’ll be able to market listings in Florida on the myelistings.com website.

Join us for this episode as we explore this free solution to listing commercial real estate.

Podcast Outline

[05:15] About our guest: Deven Richter
[07:31] A solution for listing commercial real estate for free
[13:24] How is Deven able to offer this listing service for free?
[16:51] Closing comments by Eric and Steve

About Our Guest

Deven Richter is from Austin, TX where he is an independent real estate agent and also a principal in the purchase of income and general commercial properties. He’s been involved in commercial real estate for the last 20 years.

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Lending Market Update

In the last 4-5 years, there has been an increase in more aggressive loan programs for investors such as no income / no verification loans, rehab loans, and stated income loans. Frank Coto III shares his view of the current lending market and deep dives into the various types of loan programs that can help investors based on their situation.

Some of the loan types Frank discusses are:

Conventional loans
NINE program (No Income No Employment)
Commercial loans
Private money

For those investors looking to choose and secure the right type of loan for their property, Frank is a valuable resource who can work with you to review all the variables and get you a loan best suited for your situation.

Podcast Outline

[07:15] Difference between a wholesale mortgage broker vs a bank
[08:12] Frank’s current view of the market / trends / rates
[10:05] How does an investor go about finding the best loan for his/her property?[12:21] Conventional Loan discussion (lowest rates, lowest cost for the longest terms)
[16:07] Private Money
[17:10] NINE Program (No Income No Employment)
[19:33] Commercial Loans
[21:32] No Document Loan (bad credit, no provable income, property not in good shape)

About Our Guest

Frank Coto III is the president of the Lincoln Lending Group which was started in 2003 by a group of real estate professionals and investors to compete directly with larger banks in mortgages.

Frank’s claim to fame is “no loan is too small or difficult to handle.” His connections in the mortgage and finance and business community have led to unsurpassed knowledge of the industry and area.

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