There are five states with commercial mortgage
delinquencies over 10%:
Nevada, Montana, Michigan, Arizona and Florida.
All of the other states are close to these delinquency
rates. There is no shortage of distressed commercial real
estate opportunities right now and it’s much easier to get in this
game than it used to be. Commercial loans that were
originated in 2006-2007 have doubled this quarter and are
defaulting at 3.95% and 4.28%. Loans originated in 2008 are
defaulting at 7.82%. Pretty eye opening, huh? That makes it
easy for you to find which properties to go after.
If you think that’s bad, check this out. These are the
delinquency rates for the different types of commercial
properties as of October 2009:
Office 2.29%
Hotel 6.81%
Retail 3.55%
Multifamily 6.00%
Industrial 3.09%
We are seeing the same signs of what the lenders did during
the 1981-82 and 1990-1991 recessions. There were more
millionaires made during then in commercial real estate
than any other time.
No comments:
Post a Comment