Today on Real Realtors, I sat down with Cesar Pena and Weiming Peng. Cesar is a Loan Officer for Rubicon Mortgage Fund, and focuses on securing his clients short term financing for commercial and residential properties. Weiming works with Asset Exchange Company, dealing mainly with 1031 Exchanges. Weiming is most known for the seminars on 1031 Exchanges he gives all over the country. We spent the episode discussing the complexities of 1031 Exchanges, as well as what you should know when trying to secure financing for bridge loans, as well as touch upon the continued housing crisis in the Bay Area

Cesar Pena:                 Phone: 925-239-6609

Weiming Peng:           Phone: 415-992-6120

Intros- Background

  • Cesar, at Rubicon for the last 4 years, started as a marketing rep
  • Wei Peng, Asset Exchange Development Director for the last 3 years

1031 Exchanges

  • Standard breakdowns, 4 types
  • 1: Simultaneous Exchange
  • 2: Regular Exchange
  • 3: Delayed Exchange
  • 4: Reverse Exchange

Bridge Loans

  • Process
  • Pros and cons of hard money bridge loans
  • Guidelines and rules

1031 Exchanges With or Without a Partner

  • Assisting client when the partner is not present
  • Complications arise when involved with a trust or LLC
  • Drop and Swaps
  • Protections, splitting LLC’s

Hard Rate Loans

  • Factors to price a loan

Financial Factors

  • Net operating income and loan amount
  • Don’t want a borrower to get stuck
  • Don’t factor in credit score/ track record
  • Note Purchasing

1031 Exchange Seminars

  • Focus on different types
  • New changes in 2018
  • Exchanges beyond real estate

Bay Area Market

  • Causes of rising prices, low inventory
  • Low unemployment in the Bay Area

Adjustment Coming?

  • Expected in two years by some
  • Market still hot, more expensive housing
  • More properties being bought in Sacramento
  • Condo building

Getting into the business

Contact Info/ Wrap

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