046: What You Need to Know about Commercial Loans with Austin Peek

Austin is the Principal of RiverStone RECAP, where he manages the origination, underwriting, and placement of commercial real estate loans . Before starting RSR, Austin was an Assistant Vice President at Capital Advisors for two years where he was responsible for originating commercial real estate mortgages. Prior to Capital Advisors, he worked at Corinthian Real Estate, a Jacksonville-based mortgage brokerage firm. While there he assisted the managing partner with sourcing equity and debt for real estate investors.

Austin holds a Master of Science Degree in Real Estate from Florida University, 2011 and a Bachelor of Science Degree in Finance from Florida University, 2008.

Key Points

  1. How and when to deal with mortgage brokers
  2. Mortgage bankers vs. mortgage brokers – knowing the difference
  3. Triple net leases- insurance, common area maintenance (cam), and taxes
  4. Non-recourse loans
  5. 90 for 90 – 90 days of 90% occupancy
  6. Interest only loan terms

 

Lightning Round

  1. Do you have a personal habit that contributes to your success? Austin works well under pressure and wakes up early to get things done every day.
  2. Do you have a favorite online resource? http://www.thefinancials.com/free/EX_Interest_Swaps.html
  3. What book would you recommend to the listeners and why?
    • The Real Estate Game by William Poorvu
    • Your 1st Year in Real Estate by Dirk Zeller
  4. If you were to give advice to your 20 year old self, what would it be? Shadow someone who is doing what you are interested in.

Resources

https://millionaire-interviews.com/realestateway

http://www.thefinancials.com/free/EX_Interest_Swaps.html

Lenders

Millionaire Interviews podcast

Visit Audible for a free trail, and a free audio book download.

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