Getting a Commercial Loan? Be Prepared!

When deciding to purchase or refinance a commercial property, it is good practice to start by looking at your credit report. Lenders use the 3 major credit bureaus, Equifax, Trans Union and Experian. So it will be a good idea to pull all 3 to assess your credit report for any out dated or erroneous items that could be hurting your credit score.

You will also want to clear up any negative information – if you have any derogatory items such as late payments or collection accounts then write a letter of explanation and include with your commercial mortgage loan package – do not try and hide any derogatory items, unlike residential when applying for a commercial loan, your file will be approved by a live person and not an automated system. The good thing about that is that underwriters realize people make mistakes and look favorably towards a borrower that owns up to their mistakes.

Once you have your credit all situated, then the next step is to gather the necessary documentation that will be required by the lender to process your loan.
Make sure your have your two most recent tax returns- both personal and business.
Get together your 3 most recent month’s bank statements – all pages, as this will be used to verify your assets and funds to close.

If you are applying to refinance your commercial mortgage loan: make sure you have your payoff statements, insurance, survey, title policy, and previous appraisal in hand, this will help streamline the refinance process.

If you are applying for a purchase loan for commercial real estate, the sales contract must be active. If the contract will expire prior to the closing of your commercial real estate loan, get an extension upfront, be pro-active.

If tenants occupy your properties, make sure all tenant leases are valid and that you have a complete rent roll, that matches your tenant leases.

You will also want to get your accountant and attorneys on the same page with you as to provide any necessary paper work or to review the loan documents, which if they can be provided in a timely fashion, you maybe able to close you loan in less than 30 days. If you can have everything in order from the beginning you would be surprised to see how smoothly the whole loan process with move to closing.

There are 4 main areas that the lenders are focused on when it comes to commercial real estate, which are credit, collateral, cash flow and income.

When it comes to credit, lenders want to know that the borrower has credit depth as well as being able to handle large balances especially mortgages and it most cases commercial mortgages.

The collateral, they want to make sure that if they ever have to foreclose, that they will be able to unload this property within a short period of time. As Lenders are in the business of lending money, not managing real estate.

When it comes to cash flow, you need to get familiar with Debt Service Coverage (DSCR). The DSCR is a ratio used to analyze the amount of debt that can be supported by the cash flow generated from the property. Or, simply the net income generated by the property divided by the new commercial mortgage payment.

In commercial mortgage lending, the DSCR is equivalent to the debt-to-income, or DTI ratio in residential lending. Whereas in residential lending, the income and expenses used in the calculation is the borrower’s, it is the exact opposite in commercial mortgage lending. The income and expenses used in calculating the DSCR ratio are derived from the commercial property. Lenders like to see at least a 1.20 ratio. What that mean is for every dollar that comes in, then 20 cents will be profit.

As far as the Income, they want to know that the property can sustain itself without the assistance of the borrower. However, if the borrower can sustain both his/her personal expenses as well as the commercial property, this makes the file a very strong and should not have any problems getting approved.

The 6 Benefits Of Receiving Full Nutrition

It seems as though everyone is concerned about their diets; what they eat, why they shouldn’t eat other foods, and what full nutrition really is. It is not surprising really as statistics show that inactivity and unhealthy eating contribute to over 300,000 deaths every year in the United States. The high saturated fat, sugar, sodium and low in fruits, veggies, calcium and fiber diets are very unhealthy and increase risks of several diseases. The body therefore requires a diet rich in fruits, vegetables, calcium, whole gains and fiber. Read on and discover more on the importance of proper nutrition for a healthy lifestyle.1. Muscle-tissue building and maintenance
Having full nutrition is vital in helping foster the growth of body lean muscle tissues and helps in its maintenance. The body’s muscle mass is such an incredibly energy-demanding tissue, meaning that, the more you have, the higher the body’s metabolism. There is no better way of weight management than body muscle mass building as far as a healthy weight is concerned. Proper nutrition allows you all this, and in addition, if you succeed in building more body muscles and maintain your weight, you will be in a position to avoid all other sorts of diseases related to obesity.2. Reduced Health Risks associated with diets
Proper full nutrition means a balanced-diet that includes a variety of healthy foods. Researchers have gone ahead and provided suggestions and guides to the best foods; “food pyramid” that entails grains, cheese, meat, vegetables, grains, fruits, oils and beans that provide all nutrients and vitamins the body requires. These should however be taken at appropriate and equal amounts from each of the food-group every day. With the right diet that provides good nutrition therefore, you can reduce the risks of certain health problems. Such health issues include high blood pressure, high body cholesterol, type 2-diabetes, heart disease, several types of cancer and stroke among other problems that are associated with improper nutrition.3. Enhances Your Immune System
A full nutrition diet helps in enhancing your immune system and this prevents you from frequent short illnesses. Every day, you come across a number of stressors, from your work place, to exercise-stress to financial stress, all these take a toll on the immune system of your body. Through feeding your body’s immune system with high quality nutrients you will definitely ensure that it stays strong and makes you feel much better every day. Veggies and fruits are especially very vital for your immune system health, be sure therefore to load-up these in your diet.4. Little Helpers of the body
Adequate full nutrition acts as helpers of the body. The body requires minerals and vitamins but in small quantities only. These function as co-enzymes meaning that they help a lot with chemical reactions. For instance, Vitamin B complex is important in burning carbohydrates; the body’s source of energy. Vitamin A is needed for good vision and Vitamin C helps to keep connective body tissues strong and the immune system functioning. Minerals such as Zinc contribute to metabolic processes. Healthy balanced diets provide the body with lots of minerals and vitamins, therefore, your diet should have adequate quantities of these body helpers.5. Manage Weight
Good nutrition is paramount in body weight management. While the quality of foods in your diet is important, the quantity matters also. To avoid weight gain, or to shed off some pounds, then choose the kind of foods that is low in fats, especially saturated fat. According to nutrition specialists, one extra gram of fat adds about 9calories to your food diet. Choosing low fat meats veggies and fruits keep the calories count down in the body. You can even reduce calories further in the body by limiting yourself to less drinks and snacks as well that are loaded with lots of sugar.6. Improve general health
Apart from lowering your vulnerability to several serious medical problems, maintaining full nutrition has a lot of other health benefits. Nutrition specialists explain that one has more energy and is able to delay aging effects and maintains a healthy skin by having proper nutrition. In addition to this, other benefits include healthy teeth and disease resistance.Giving your body full nutrition is a vital element in leading a healthy lifestyle and its importance is unquestionable. In fact, nutritionists agree that the formula for a healthy and fit body is; 10% exercise, 10%genetics and 80% nutrition. You cannot control the genetics, but you surely can control the 90%.

Critical Thinking: Is The Virus Known As The Victim Mentality Undermining Peoples Mental Health?

In recent years, both the mainstream media and the government have said a lot about “mental health” and how people need to look after this part of them. Mainstream society offers a number of different ways for someone to do this.
One option that is often put forward is for them to talk about what is going on, another is for them to change their “negative” thoughts and feelings by “reframing” what is going on. For some people, the solutions on offer are not good enough, but, what can be denied is how far society has come.A Big ShiftFor a very long time, the primary focus was on people’s physical health, with their mental health largely being overlooked. If someone did have inner problems before, they would have most likely been seen in a negative light and even ostracised.This is not to say that someone won’t be seen in this way now but there is likely to be help available and they probably won’t be cast aside. Quite simply, what is taking place inside them (their inner world) is starting to be taken as seriously as what is taking place outside them (their physical body).The Toddler StageThe human condition has been pondered and analysed for thousands of years and yet, mainstream society is only just beginning to understand this area. Therefore, while the average person can have a good understanding of what a certain celebrity is doing, know how to drive a car or how to cook a wonderful meal, for instance, they might know very little about themselves.Those that know more are often those who have broken away from mainstream society and live the examined life. Consequently, a society can have incredible technology and be very “advanced” in that respect but, when it comes to self-understanding and ‘knowing thyself’, it can be very primitive.Off The Beaten TrackWhat this means is that the options that are available from mainstream society can pale in comparison to those that are available on the fringes. Or to be more precise, the options that are available on certain websites.To become aware of these options, however, someone will need to do their own research and not rely on the system to take care of them. One will need to be a seeker who takes responsibility for their own mental and emotional health.A StartStill, the main thing is that mainstream society is changing when it comes to this area and what is going on internally is being acknowledged. If a society has largely overlooked this area, it is clear that it is not going to acknowledge it and then provide the perfect solutions overnight.Now, although a lot of good is taking place when it comes to this area, it could also be said that it is also being undermined. The reason for this is that, on the one hand, a lot is said about how important “mental health” is and, on the other; people are being encouraged to see themselves as victims.No AgencyWhen someone sees themselves as a victim and has a “victim mentality”, they are likely to feel powerless and believe that they have no control over their life. Someone and/or something “out there” will define what does or doesn’t happen to them.Considering this, the victim mentality is to mental health what acid is to metal; it is something that will have a detrimental effect on their inner world. By believing that they have very little effect on their reality, it will be normal for them to feel down and depressed, anxious and fearful, angry and resentful, and they could even contemplate ending their life.ManipulationIt might not be accurate to say that those who promote “mental health” awareness are always those that are promoting the virtues of the victim mentality but there is often a cross-over. At this point, it could be said that perhaps these people simply haven’t thought through what they are saying, which is why they are promoting both of these things.This can be the case and there can be other times when people have a hidden agenda, with them talking about “mental health” as this is the right thing to do and encouraging the victim mentality to weaken others, to create division and to gain control in the process. Whether it is a politician or another figure that does this, they are unlikely to be a mentally balanced human being.TrappedThe trouble with the victim mentality, as destructive as it is, is that once someone has this mentality, it can be incredibly difficult for them to realise that they have it and then to gradually let it go. Their ego-mind is likely to be strongly attached to this identity, so it will be irrelevant that it is making them feel bad and powerless.This part of them can become attached to any identity and any feelings, and it won’t matter how miserable, bitter or resentful it is making them. Along with this, their outer reality will mirror back what is taking place inside them, thereby validating their belief that they are a victim.The power Of AwarenessIn other words, someone’s ego-mind can cause them to feel comfortable with something that is not serving them and their reality is a reflection of what is taking place in their own consciousness. Once someone believes that they are a victim, they will have to co-create situations and circumstances and draw people in who will validate this belief.Without the understanding that they are not purely an observer of their reality and that this is just an illusion that their mind creates (one that allows them to have their own experience on this planet), one won’t be able to see that it is not the world that is victimising them; it is that they are being victimised by their own mind. To have good mental health, then, it will be essential for one to understand their mind and how this part of them manifests their reality.Final ThoughtsWhat this emphasises is how important self-understanding is when it comes to having good mental and emotional health. If one wants to be in a good place internally, they won’t be able to hold onto their victim mentality, that’s if they have one.If they are ready to let go of this mentality, they can soon find that a big part of them is holding on. They can find that by seeing themselves in this way, it allows them to gain power indirectly, be seen as virtuous, thanks to the current political climate, and they can receive a fair amount of attention, approval and acceptance – three things that their ego-mind interprets as love.